558 Alfred Avenue – Property Summary
Key Characteristics & Who It Suits
This is a 1913 home with 1,031 square feet of living space on a 3,268-square-foot lot, currently assessed at $99,000. The property sits in the William Whyte neighbourhood of Winnipeg.
The numbers tell a straightforward story. The lot is the standout feature—it ranks in the top 19% on the street, which gives you more outdoor space than most nearby properties. The living area is close to the street and neighbourhood average, but falls below citywide norms for comparable homes. The assessed value is notably low: in the bottom 12% on the street and bottom 21% in the neighbourhood. This isn't necessarily a red flag—it likely reflects an older home that hasn't been fully updated rather than a problem with the location.
The appeal here is for buyers who value land over finished square footage. If you're looking for a project house, a potential lot split, or a property where you can build sweat equity through renovations, this makes sense. The low assessed value keeps the tax burden modest, and the below-average price point relative to the city means a lower barrier to entry. It would also suit someone who wants a bigger yard in an older, established neighbourhood without paying a premium for a move-in-ready interior.
Five Possible FAQs
1. What does the "top 88%" ranking for assessed value mean?
It means the property is valued lower than 88% of the homes on Alfred Avenue. In practical terms, you're paying less than most of your neighbours, both in purchase price and property taxes. This is common for older homes that need updating.
2. Is the neighbourhood safe and stable for investment?
William Whyte is an older, working-class area with a mix of long-term residents and newer buyers looking for affordability. Property values haven't kept pace with the city average, but that also means there's room for appreciation if the area sees reinvestment. You'd want to look at recent sales trends and development plans in the immediate blocks.
3. How much work does the house likely need?
With a 1913 build and an assessed value well below the street average, this isn't a turnkey property. You should budget for major systems—roof, furnace, electrical, plumbing—and likely some foundation work. A thorough inspection is a given. The silver lining is that older homes in this price range often have solid bones and good materials that just need cosmetic and mechanical updates.
4. Can I expand the house given the lot size?
At 3,268 square feet, the lot is generous for the street. Zoning rules in William Whyte vary by block, so you'd need to check setback requirements and allowable floor-area ratios. But the land area alone doesn't rule out an addition or a secondary suite—it's a conversation worth having with the city's planning department.
5. How does this compare to other homes in the same price range?
Most homes under $100,000 in Winnipeg will be older, smaller, or in need of work. What sets this one apart is the land-to-building ratio: you're getting a larger lot than most comparably priced properties, which gives you flexibility. The trade-off is that the house itself is likely more dated than some renovated properties at a similar price point.