Property Overview & Key Characteristics
This two-storey home on Alexander Avenue in Winnipeg's Weston neighbourhood is a property of contrasts, offering both clear potential and practical considerations. Built in 1913, its key appeal lies in its generous 2,148 sqft lot, which ranks in the top 5% of the neighbourhood, providing significant outdoor space in a city setting. The 1,040 sqft living area is above average for the immediate street. A notable characteristic is its very low assessed value compared to similar-sized homes nearby, which may indicate an opportunity but also suggests the home likely requires substantial updating, as the basement is noted as unrenovated and there is no garage.
The property would suit a specific type of buyer: a hands-on renovator or investor looking for a footprint with a large lot in an established neighbourhood, who is prepared for a project. Its appeal is not in move-in readiness, but in the underlying value of the land and the structure's potential. A less obvious perspective is that its low assessment, while often tied to condition, can sometimes translate to relatively lower property taxes during a renovation period, which is a practical advantage. It’s a canvas for creating value rather than a finished product.
Frequently Asked Questions
1. What does the assessed value tell me?
At $13,800, the assessed value is significantly lower than many comparable and even smaller homes on the same street. This typically reflects the property's condition and lack of renovations, not its market potential. It's a key indicator that this is a project property.
2. How does the lot size compare?
The lot is a major feature. At 2,148 sqft, it is larger than 95% of lots in the Weston neighbourhood, offering rare space for gardens, expansion, or outdoor living in this area.
3. What should I infer about the condition?
The notation "Basement: Yes, not renovated" is a direct flag. Combined with the age (113 years) and low assessment, it strongly suggests that major systems (plumbing, electrical, structure) and finishes throughout will require inspection and likely investment.
4. Who are the typical buyers for a property like this?
This property is geared toward buyers looking for a value-adding project. This includes contractors, DIY renovators, or patient owner-occupants who want to shape a home to their tastes over time. It is less suitable for someone seeking a turn-key home.
5. How does it rank for age and living space?
The home is older (1913), ranking in the top third for age in Weston, meaning many nearby homes are newer. However, its living area is actually larger than about 70% of homes in the neighbourhood, so it offers good interior space for its category.