Property Overview: 723 Alverstone Street, Winnipeg
Key Characteristics & Appeal
This one and three-quarter storey home in Daniel McIntyre presents a solid, updated offering with strong neighbourhood value. Its key characteristic is a recently renovated basement, adding functional living space to the 1,224 sqft footprint. Built in 1921, the home sits on a standard city lot with a detached garage. The appeal lies in its positioning: while its living space is average for the area, its assessed value ranks notably high within both the immediate street (top 16%) and the broader Daniel McIntyre neighbourhood (top 9%). This suggests the property is viewed as a above-average asset in its local context, likely buoyed by the renovation. The recent sale price from late 2024 further indicates active market interest.
It would suit practical buyers looking for a move-in ready home with modernized basics in a central, established community. It’s particularly suited for those who value a strong valuation footprint within their immediate area over having a larger lot or newer build date, which are metrics where this property falls below the city-wide average.
Frequently Asked Questions
1. How does the assessed value compare to the recent sale price?
The home sold for $290,000 in December 2024, which is significantly higher than its $26,500 assessed value. It’s important to remember that municipal assessed value for property tax purposes is not a direct indicator of current market value, which is determined by recent sales like this one.
2. What does the "renovated basement" likely include?
While specifics aren’t listed, a renovated basement in a home of this era typically means it has been finished into a livable space, possibly including a recreation room, additional bedroom, or laundry area, with proper flooring, walls, and ceiling.
3. Is the lot size a constraint?
At just under 2,900 sqft, the lot is average for Daniel McIntyre but below the Winnipeg average. This is typical for central, older neighbourhoods and means outdoor space is limited but manageable. It suits those preferring lower maintenance over extensive yard space.
4. Why is the year built considered "below average" city-wide?
Winnipeg has many newer suburban developments. A 1921 build date is common and even slightly newer than average in central neighbourhoods like Daniel McIntyre, but it places the home in the older third of properties across the entire city.
5. What is the significance of the high local assessed value ranking?
Ranking in the top 9% of the neighbourhood for assessed value suggests that, compared to its immediate peers, this property has attributes (like its renovation, condition, or location on the street) that the city assessor views as adding significant value. This can be a point of stability, though market conditions ultimately dictate sale price.