Property Overview: 1901 Alexander Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-storey home built in 1955 on a notably generous lot in Winnipeg's Brooklands neighborhood. Its primary appeal lies in the land itself—at 3,543 sqft, the lot size is well above average for both the immediate street and the broader area, representing a significant portion of the property's value. The living space is compact at 660 sqft, suggesting a cozy, efficient layout or a potential candidate for expansion or redevelopment, subject to local regulations.
The home suits specific buyer profiles. It's a practical entry point into the housing market for a first-time buyer or an investor seeking a land-value opportunity with a holding property. It could also appeal to someone looking to downsize into a low-maintenance, single-level home without sacrificing outdoor space. A thoughtful perspective is that this property represents a "blank canvas" trade-off: you acquire a sizable lot in an established community, but the existing structure offers minimal modern comforts, prioritizing potential over present condition.
Section 2: Frequently Asked Questions
1. Is this a teardown property?
While the data suggests the value is heavily weighted toward the land, this isn't automatically a teardown. It depends on the buyer's goals, budget, and the home's condition. It could be a renovator's project or a land bank for future redevelopment.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's current state and market position relative to its specific peer group. The compact living area and age of the home keep its valuation low compared to the Winnipeg average, which includes newer and larger homes.
3. What does the lot size ranking mean for me?
Ranking in the top 26% for land area on its street means this lot is larger than most direct neighbors. This could provide more privacy, yard space, or future flexibility than is typical for the block.
4. Who would this property not suit?
It would not suit buyers seeking a move-in-ready home with modern amenities, ample indoor living space, or features like a basement, garage, or updated systems. It is a project or a strategic purchase.
5. How does the 2021 sale price relate to the current assessed value?
The 2021 sale price of $15,500k is slightly below the current assessed value of $16,200k. This indicates stable or slightly appreciating value for this type of property in its market segment over that period, but market conditions have likely evolved since.