597 Alverstone Street

Property Overview

This 1,006 sqft one-and-a-half storey home, built in 1909, sits on a 2,865 sqft lot in Winnipeg's Daniel McIntyre neighbourhood. Its key updated feature is a renovated basement. The home has no garage or pool. Its most recent sale was in May 2019 for $233,000, and its current assessed value is $264,000.

Section 1: Key Characteristics & Appeal

The primary appeal of this property lies in its balance of historic character and modern practicality within an established inner-city community. Its renovated basement adds functional living space, which is a significant asset in a home of this size. The assessed value is notably strong for both the immediate street and the broader Daniel McIntyre area, suggesting it is viewed favorably compared to its local peers.

This home would suit first-time buyers or practical downsizers who value location over square footage. It’s for someone comfortable with the upkeep of a 117-year-old home and who prioritizes being part of a mature neighbourhood over having a large yard or private parking. A less obvious angle is its potential appeal to value-conscious buyers who see strength in its above-average assessment for the area—it may represent a solidly maintained asset in its micro-market, even if its city-wide metrics are more modest.

Section 2: Frequently Asked Questions

1. How does the home’s size compare to others?
At 1,006 sqft, the living area is close to the average for both Alverstone Street and the Daniel McIntyre neighbourhood, but below the city-wide average. It offers a compact, efficient layout typical of its era.

2. What does the assessed value tell us?
The $264,000 assessment is above average for both the immediate street and the neighbourhood, ranking in the top 17% and 9% respectively. This often indicates the property is in better condition, has more improvements, or is otherwise valued higher than many comparable homes nearby.

3. Is the lot size a constraint?
The lot is under 3,000 sqft, which is smaller than most on its street and significantly smaller than a typical city-wide lot. This means lower maintenance but also limited space for additions, extensive landscaping, or detached structures like a garage.

4. What should I consider about the age of the home?
Built in 1909, the home is older than most in Winnipeg. This brings character but also requires a proactive approach to maintenance. Potential buyers should prioritize a thorough inspection focusing on foundational integrity, wiring, plumbing, and insulation updates.

5. How does the 2019 sale price relate to today’s value?
The home sold for $233,000 in 2019. The current assessed value of $264,000 reflects a municipal valuation for tax purposes, which considers market trends and improvements. The actual market value would be determined by current conditions, but this history provides a useful benchmark.