Here is a summary of the property at 437 Alfred Avenue.
Property Summary: 437 Alfred Avenue
Key Characteristics & Buyer Profile
This is a 1,751 sqft home built in 1907, situated on a 3,266 sqft lot in the William Whyte neighbourhood. Its strongest feature is its living area, which ranks in the top 4% on the street and top 8% in the neighbourhood—significantly larger than the average home nearby. The lot size is about average for the area but well below the citywide norm, meaning the home occupies a larger footprint relative to its land.
The appeal here is straightforward: more interior space for a lower assessed value. The assessed value ($123k) ranks near the bottom citywide and is well below the street average, suggesting the price may be tied more to the home's age and location than its square footage. The 1907 build date means it is one of the older properties in the neighbourhood, which may come with maintenance considerations but also a level of character and solid construction common to that era.
This property suits a buyer who prioritises square footage and interior room over a modern home or a large yard. It is ideal for someone willing to manage an older home’s upkeep in exchange for space that would cost significantly more in a newer or more central Winnipeg location. First-time buyers or investors looking for a value-driven entry into a denser, established area may find it a practical fit.
Five Possible FAQs
1. How does the assessed value compare to similar homes nearby?
The assessed value of $123,000 is below the average for both Alfred Avenue ($164k) and the William Whyte neighbourhood ($149k). It ranks near the very bottom citywide, which reflects the home’s age and location rather than its size.
2. Is the lot large enough for additions or a garage?
The lot is 3,266 sqft—average for the street and neighbourhood. However, it is well below the Winnipeg average of 6,570 sqft. There is limited extra land, so significant expansions or a detached garage may be tight depending on zoning and current setbacks.
3. What does the “Top 4%” ranking for living area actually mean?
It means that out of 476 comparable homes on Alfred Avenue, this property has a larger living area than roughly 96% of them. It is a strong standout in the immediate area for interior space, which is not reflected in its assessed value.
4. Should I be concerned about the 1907 build year?
Homes built in 1907 in this neighbourhood are common and typically feature older materials and systems. Electrical, plumbing, and insulation may need attention. However, many homes from this period offer solid wood framing and unique layout details. A thorough inspection is advisable, especially for the foundation and roof.
5. Why is the assessed value so low compared to the city average?
The citywide average assessed value for comparable homes is $390k, while this property sits at $123k. This gap is driven by the home’s age, its location in a lower-priced neighbourhood, and potentially smaller lot size. It does not necessarily indicate poor condition, but rather that the market values newer homes and more central or suburban locations much higher.