Property Overview
This one-storey home on Alfred Avenue in Winnipeg's Burrows Central neighbourhood is a straightforward property defined by its compact size and value-focused positioning. Built in 1917, it sits on a 2,731 sqft lot. The 583 sqft living area is notably modest, placing it among the smaller homes in the city. It features a basement that is present but not renovated, and there is no garage or pool. The home last sold in late 2016.
Key Characteristics & Appeal
The primary appeal of this property lies in its affordability and potential as a land-value proposition. With a very low assessed value and sale history, it represents one of the most accessible entry points into homeownership in Winnipeg. Its lot size, while below average for the street, is still a useable parcel in an established neighbourhood.
This home would suit a very specific type of buyer: a hands-on investor looking for a rental property with minimal upfront investment, or a extremely budget-conscious first-time buyer willing to live in a compact space while potentially improving it over time. Its size and condition make it less suitable for families needing move-in-ready space. A thoughtful perspective is that this property isn't competing with turn-key homes; it's an economic unit—a place to start building equity from a very low base or to hold as a long-term asset in a mature neighbourhood. Its value is fundamentally rooted in the land and location, not the current structure.
Frequently Asked Questions
1. Why is the living area so much smaller than average?
At 583 sqft, this is a very compact one-storey home, typical of older, utilitarian housing built in the early 20th century. It reflects a time when homes were often built with fewer rooms and smaller footprints.
2. What does "below average" for assessed value mean in this context?
The assessed value is significantly lower than averages for the street, neighbourhood, and city. This primarily reflects the home's small size, age, and condition (e.g., unrenovated basement), not necessarily its market potential. It typically results in lower property taxes.
3. Is the unrenovated basement a major concern?
It indicates the lower level is in original or utilitarian condition, not finished for living space. Buyers should budget for inspections to assess its foundation, moisture, and systems. It offers raw space for storage or future potential, but requires investment to finish.
4. Who would this property not be suitable for?
It is likely not suitable for families needing multiple bedrooms, anyone seeking a move-in-ready or modern home, or buyers who require parking like a garage. Its appeal is for those prioritizing lowest possible cost over space and finish.
5. How useful are the provided comparisons to nearby properties?
They are useful for understanding neighbourhood price ranges and home sizes. For instance, the comparisons show that slightly larger homes on the same street or area can have significantly higher assessed values, highlighting how this property sits at the most affordable end of the spectrum.