This one-storey home on Alexander Avenue is a classic Winnipeg character property, built in 1907. Its primary appeal lies in its land value and location within the established West Alexander neighbourhood. With a living area of 878 sq. ft. and a notably large lot of 1,699 sq. ft., the value is heavily weighted toward the property itself rather than the current structure. The home presents as a blank canvas, featuring an unrenovated basement and no garage. It suits a specific buyer: an investor, a builder, or a hands-on individual looking for a central location with the potential for a significant renovation, addition, or future redevelopment. The very low assessed value suggests the city’s valuation is based on the land, making it a potential entry point into the market for those with a vision and the means to execute it, rather than those seeking a move-in-ready home.
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What does the very low assessed value indicate?
It primarily reflects the city's valuation of the land in its current state, not the potential value of a renovated home or new build. This can mean lower property taxes initially but is a clear signal that major investment is needed.
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Is this a tear-down property?
Not necessarily. While the data suggests the land is the key asset, the decision to renovate or rebuild depends on a professional inspection of the existing structure's foundation, framing, and heritage character (if any).
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What are the less obvious costs to budget for?
Beyond renovation or construction costs, buyers should carefully budget for potential updates to essential services (plumbing, electrical, heating) to meet modern code, which can be significant in a home of this age.
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How does the lot size compare to nearby properties?
The lot is in the top 1% for size on its street, which is a major advantage. It offers more outdoor space and potential footprint for an addition than many neighbouring properties.
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What is the neighbourhood context?
West Alexander is a mature, central neighbourhood. Buyers should explore the immediate blocks to understand the mix of property conditions and the pace of renewal or investment in the area, as this impacts both livability and future value.