550 Alfred Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1,619 sqft single-family home built in 1914, situated on a 3,268 sqft lot in the William Whyte neighbourhood of Winnipeg. The property’s main draw is its unusually generous living area for the area. On Alfred Avenue itself, it ranks in the top 6% for size—meaning most homes on the street are considerably smaller. That extra space, combined with a lot that is above average for the street but modest citywide, gives it a feel of being spacious without being land-heavy.
The assessed value sits at $133k, which is around average for the street and neighbourhood but well below the citywide average for comparable homes. This tells you the property is priced in line with its immediate surroundings, not its square footage. In other words, you’re getting a larger interior without paying a premium for it—at least based on current assessment figures. The home is older than most citywide (1914 vs. the Winnipeg average of 1966), so character and original details are likely, but so is the need for updates.
This property would suit a buyer comfortable with an older home who wants more square footage than the neighbourhood norm, without stretching their budget into pricier parts of the city. It’s also a good candidate for someone looking for a fixer-upper or a home where sweat equity could add value, especially given the large interior footprint compared to neighbours.
Five Frequently Asked Questions
1. How does the living space compare to other homes nearby?
Very favourably. On Alfred Avenue, the average home is about 1,084 sqft, and this one is 1,619 sqft. It ranks in the top 6% for living area on the street, and top 12% in the William Whyte neighbourhood. So if you need more room than what most homes in the area offer, this stands out.
2. Is the assessed value low because the home is in bad shape?
Not necessarily. The assessment is relative to the neighbourhood and street, where values are modest. The home is older and likely has some deferred maintenance, but the low citywide rank (bottom 2%) mainly reflects that Winnipeg’s overall housing market has many higher-value properties in newer or more central areas. It’s more about location than condition.
3. The lot is 3,268 sqft—is that small or typical?
It’s actually slightly above average for the street (3,225 sqft) and right around the neighbourhood average (3,277 sqft). But citywide, where lots average 6,570 sqft, it’s on the smaller side. So you have enough yard for a garden or small gathering, but don’t expect a large backyard compared to newer suburban homes.
4. What’s the most practical reason to buy this house?
The living area-to-cost ratio. You get 1,619 sqft of interior space at a price point typical for much smaller homes in the area. If you value square footage over a big yard or a modern build, this property makes sense financially. It’s a practical choice for someone prioritizing interior room over curb appeal or lot size.
5. Should I be concerned about the 1914 build year?
Only if you want a move-in ready home with modern systems. An older home means you should budget for electrical, plumbing, insulation, and possibly foundation work. But it also means you’re likely getting solid materials (old-growth wood, thicker walls) and a layout that may have more character than newer builds. A thorough inspection is strongly recommended—not because it’s a red flag, but because the age demands it.