Property Overview & Key Characteristics
This one-storey home on Alverstone Street is a compact, no-frills property built in 1948. Its key appeal lies in its land value and location fundamentals rather than the size or condition of the dwelling itself. The 700 sqft living area is notably smaller than most comparable homes in the area, city, and even on its own street. However, it sits on a 3,782 sqft lot, which is larger than average for the Daniel McIntyre neighbourhood. The home has a detached garage and an unrenovated basement.
Its primary appeal is to value-focused buyers seeking an entry point into the Winnipeg market, or investors looking for a land-hold opportunity. The very low assessed value suggests it may be one of the most affordable detached housing options available. It would suit a handy buyer prepared for updates, an investor considering future redevelopment (subject to zoning), or someone prioritizing location and lot size over move-in-ready condition. A thoughtful perspective is that while the house itself is below average in size and likely in finish, it outperforms most neighbourhood homes in lot size and is newer than many on its street, offering a different kind of value based on potential rather than present condition.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's specific characteristics—namely its small, unrenovated living space and the modest valuation of homes in its immediate area. It is assessed close to the neighbourhood average but well below the city average, which is skewed by newer, larger homes in other districts.
2. Is the small living area a major drawback?
It depends on your needs. At 700 sqft, it's significantly cozier than the typical Winnipeg home. It may be a constraint for a growing family but could be sufficient for a first-time buyer, single occupant, or as a rental property.
3. What does "above average" year built mean for a 1948 home?
On Alverstone Street and in Daniel McIntyre, many homes were built in the early 1900s. Therefore, a 1948 build date is actually newer than most in the direct vicinity, which could imply somewhat newer building materials and systems compared to neighbouring houses.
4. What are the implications of the large lot size?
The lot size of 3,782 sqft is a standout feature. It offers more outdoor space than typical for the area and provides a tangible asset in the form of land. This could allow for gardening, expansion, or future development potential, adding long-term value.
5. How should I interpret the 2017 sale price of $15.60k?
That historical sale price is not a reflection of current market value. It indicates the property transferred at a very low price seven years ago, which often happens in estate sales or between family members. The current assessed value and market conditions will be the relevant guides for today's value.