Property Overview & Appeal
This one-and-three-quarter storey home, built in 1882, is defined by its historic character and its significant lot size. At 1,130 sqft, the living space is notably above average for similar homes on its street. The property's primary standout feature is its 3,204 sqft land area, which ranks in the top 30% on Alexander Avenue, offering ample outdoor space in a central neighbourhood. It has a basement, but it is not renovated, and there is no garage or pool.
The appeal here is largely for a specific buyer: someone seeking a project with a focus on land value and heritage. The extremely low assessed value and recent sale price reflect a home requiring substantial modernization. Its charm lies in its potential, its generous lot for the area, and its place as one of the older homes in Winnipeg. This would suit an investor, a hands-on renovator looking for a character home, or a buyer whose priority is securing a large parcel of land in Centennial, with the understanding that the structure itself demands significant investment and vision.
Frequently Asked Questions
1. Why is the assessed value so much lower than the sale price?
The assessed value is typically for tax purposes and can lag behind market values, especially for older homes that have not been recently renovated. The sale price reflects what a buyer was willing to pay in the current market, likely factoring in the land value and the home's potential.
2. What does "one & 3/4 storey" mean for the layout?
This style typically features a main floor and a second floor where the ceilings slope with the roofline, meaning full-height walls are only in the center of the upper rooms. It offers classic charm but requires thoughtful design to maximize the space effectively.
3. The home is among the oldest on the street. What should I consider?
While full of character, a home from 1882 will likely have outdated mechanical systems (plumbing, wiring, heating) and may require foundational or structural updates. A thorough inspection is essential to understand the scope and priority of needed repairs.
4. The lot is larger than average for the street. What are the advantages?
A larger lot provides more privacy, expanded outdoor living or gardening space, and greater potential for additions, a detached garage, or other landscaping projects not possible on a standard-sized lot in the same area.
5. The basement is noted as "not renovated." What are the likely conditions?
This typically indicates an unfinished or partially finished space with original stone or concrete walls and floors. It may be suitable for storage or laundry, but making it a comfortable living area would require significant work, including addressing potential moisture control and ceiling height.