Property Overview
This one-storey home on Alfred Avenue in Winnipeg's Burrows Central neighbourhood presents a straightforward, value-oriented opportunity. Built in 1912, its key characteristic is a generous 3,004 sqft lot that is above average for the city, paired with a modest 704 sqft living area. The home features a detached garage and an unrenovated basement. Its last known sale was in 2016 for $150,000, and its current assessed value is notably low at $15,900.
The appeal lies in its land potential and affordability. It suits a buyer looking for a starter home or a long-term land-bank investment in a mature neighbourhood, who is comfortable with a smaller, older house that may require updates. A thoughtful perspective is that while the living space is compact, the large lot provides rare flexibility for expansion, gardening, or outdoor living compared to newer, denser subdivisions. Its assessed value being a fraction of the citywide average suggests very low property taxes, which is a significant, less obvious financial benefit.
Frequently Asked Questions
1. What does "below average" for living area really mean?
At 704 sqft, the home's living space is significantly smaller than most in Winnipeg. This indicates a compact, efficient layout typical of its era, which may appeal to minimalists or those wanting lower utility costs, but families should plan for potential space constraints.
2. Why is the assessed value so much lower than the last sale price?
The assessed value of $15,900 is for municipal tax purposes and is not a market valuation. The large discrepancy from the 2016 sale price of $150,000 highlights that market value and assessed value can differ greatly. Always base offers on current market conditions, not the tax assessment.
3. Is the large lot a good opportunity?
Yes. The lot is larger than most in the area and citywide. This is the property's standout feature, offering future potential for additions, a large garden, or simply more private outdoor space than is commonly available at this price point.
4. What should I know about the "unrenovated basement"?
This typically means the basement is in original or functional condition, but not modernized. It likely has lower ceilings, basic finishes, and may be suited for laundry and storage rather than finished living space. Budget for potential moisture-proofing or upgrades if you plan to use it extensively.
5. How does the 1912 build year affect the home?
Homes from this period were built with durable materials but will have older mechanical systems (plumbing, wiring, heating). While it has stood for over a century, a thorough inspection is crucial to understand the condition and needed updates, which can be an opportunity to customize but also a source of unexpected costs.