643 Alfred Avenue

643 Alfred Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1905-built home with 1,093 sq. ft. of living space on a 3,004 sq. ft. lot, located in Winnipeg’s William Whyte neighbourhood. Its most notable feature is the assessed value: at $213,000, it ranks in the top 20% on its street and top 13% in the area, meaning it holds relatively high tax-bracket value compared to nearby houses. The living area and lot size are both around average for the street and neighbourhood, so the property doesn’t stand out for square footage or yard space—but the assessed value suggests the structure or location carries weight.

The appeal lies in the apparent value gap. Citywide, comparable homes average $390,100, while this property’s assessed value is significantly lower. For a buyer looking at entry-level pricing in an older central neighbourhood, this could represent a solid base—especially if the bones are sound. The home’s age (bottom 2% citywide) means it will likely require more maintenance and possibly updates. This property suits a buyer comfortable with an older home, who prioritizes location and assessed value over modern finishes or a large lot. It’s less suited for someone seeking a turnkey property or future resale based on square footage.

Five Possible FAQs

1. Why is the assessed value so much higher than the neighbourhood average but lower than the city average?
The home ranks well on its street and in William Whyte compared to direct neighbors, but citywide averages are pulled up by newer, larger homes in higher-value areas. This property is priced below that broader benchmark, which may reflect the older home and smaller lot relative to city norms.

2. How does the 1905 build year affect insurance or financing?
Older homes can sometimes lead to higher insurance premiums or stricter lender requirements, especially regarding electrical, plumbing, or roof condition. It’s wise to get a specialist inspection and check with insurers before closing.

3. Is the lot size a limitation or an opportunity?
At 3,004 sq. ft., it’s about average for the area but small by city standards. For a buyer wanting a garden or expansion, it’s tight. However, in a dense older neighbourhood, a manageable lot often means less upkeep and a more walkable setting.

4. What does “ranked top 13% in the neighbourhood” for assessed value actually mean for taxes?
Higher assessed value generally leads to higher property taxes, though rates vary. Being in the top 13% locally means you’ll likely pay more than most neighbours—but the value still sits well below the citywide average, so it may still be moderate overall.

5. How does this property compare to others currently for sale in William Whyte?
This home’s strengths are its assessed value and street-level ranking, not its size or age. Many listings in the area may be newer or larger but carry a higher asking price. Comparing assessed values against list prices is a useful starting point—this property may offer more underlying value per dollar than some others.