Property Overview & Key Characteristics
This two-storey home at 538 Alexander Avenue in Winnipeg's Centennial neighbourhood presents a practical blend of modern convenience and established community. Built in 2006, it is a notably newer construction compared to most homes on its street and in the wider area, which typically date back to the early or mid-1900s. This is a key advantage, suggesting updated building systems and potentially lower immediate maintenance needs.
The home features 1,080 sqft of living space, which is typical for the area, and sits on a 2,601 sqft lot. A renovated basement adds functional space. Notably, it lacks a private garage. Its assessed value positions it above average for its immediate vicinity but below the broader Winnipeg average, indicating it sits in a more affordable pocket of the city.
Its primary appeal lies in offering a relatively modern, low-maintenance home in a long-established neighbourhood without a premium city-wide price tag. It would suit first-time buyers or downsizers seeking a turn-key property in a mature area, as well as value-focused investors attracted by the above-average assessment for the neighbourhood and recent sales history.
Frequently Asked Questions
1. How does the 2006 build year impact this property?
Being built in 2006 is a significant standout feature. It means major components like wiring, plumbing, and the roof are decades newer than those in most neighbouring homes, reducing the risk and cost of near-term replacements common with century-old houses.
2. The assessed value seems low. What does this indicate?
While the assessed value is above average for Alexander Avenue and Centennial, it is below the Winnipeg average. This reflects the specific market values of this local area. It can indicate a more accessible entry point into homeownership, but it's wise to research recent sale prices in the immediate blocks to understand the true market value.
3. There is no garage. What are the parking options?
The property listing confirms there is no private garage. Buyers should verify on-site parking arrangements, such as a dedicated driveway or rear laneway access, and also investigate the neighbourhood's street parking regulations and typical availability.
4. The home sold for $19,500 in 2021. Does that suggest an issue?
A sale price that is a fraction of a prior sale (e.g., $190k in 2016) often indicates a non-arms-length transaction, such as a transfer between family members. It does not reflect the market value at that time. Always rely on a comparative market analysis of standard, open-market sales for valuation.
5. What is the significance of the renovated basement?
A renovated basement adds valuable finished living space, which is a strong asset in a home of this size. It's important to clarify the nature of the renovation—whether it's a legal suite (which would require verification of permits and zoning) or a finished recreational space—and to check for proper moisture control and ceiling height.