Property Overview & Appeal
This two-storey home on Alexander Avenue is a property of notable contrasts. Its key characteristic is its substantial size, featuring over 3,000 sqft of living space on a large lot, ranking it among the very largest homes in its Centennial neighbourhood and on its street. Built in 1883, it is a true historic property, a fact reflected in its age ranking. The appeal lies in this rare combination of grand, vintage scale and a very accessible price point, as suggested by its recent sale price and assessed value. It suits a specific buyer: someone with a vision for restoration or significant updating who values generous interior space and historic character over modern finishes and conveniences. A less obvious perspective is that the low assessed value relative to its size may indicate substantial work is needed, positioning it as a long-term project for a hands-on owner or investor, rather than a move-in-ready home.
Frequently Asked Questions
1. What does the age ranking mean?
The ranking shows the home was built in 1883, making it one of the oldest not just on the street, but in all of Winnipeg. This confirms its significant historic provenance but also suggests potential considerations like outdated systems or heritage building codes.
2. If the living area is so large, why is the assessed value relatively low?
A low assessed value on a very large, historic home often reflects the property's condition rather than its potential. It typically accounts for necessary major updates to roofing, plumbing, electrical, or insulation that a modern home would already have.
3. Who is this property not well-suited for?
It is likely not suited for first-time buyers seeking low maintenance, or for those who want a modern, renovated home without a major project. The lack of a garage and basement (as noted in the details) may also be a drawback for some.
4. The home recently sold. What does the sale price indicate?
The recent sale at a price close to the assessed value suggests a market valuation that acknowledges the scale and lot size, while also factoring in the condition and renovation requirements of a 140-year-old structure.
5. How significant is the lot size?
At over 5,000 sqft, the lot is a major asset. It offers ample outdoor space, which is a rarity in the area, and provides valuable flexibility for future landscaping, expansions, or additions, subject to local zoning and heritage regulations.