Property Overview: 1984 Alexander Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-storey home on a notably large lot in the Brooklands neighbourhood. Built in 1951, its primary appeal lies in the land itself—at 4,767 sqft, the property size is well above average for both the street and the area, ranking in the top 7% on Alexander Avenue. This presents a clear opportunity for future expansion, a new build, or simply enjoying generous outdoor space.
The existing living space is compact at 742 sqft and includes an unrenovated basement and a detached garage. The home last sold in 2018 for $17,600, with a current assessed value of $21,400, which is above average for its immediate street. This combination suggests the property is valued more for its land potential than its current structure.
It would best suit a buyer with a vision for the future, such as a renovator looking to expand, an investor considering redevelopment, or a first-time buyer who prioritizes a large yard over a large house. Its value proposition is straightforward: you are acquiring a prime-sized lot with an older, functional home included.
Section 2: Frequently Asked Questions
1. Is this a teardown property?
While the home is livable, its value is heavily weighted toward the land. The large lot size and modest, unrenovated living space make it a strong candidate for significant renovation or eventual redevelopment, which is central to its appeal.
2. How does the assessed value compare to the likely sale price?
The City's assessed value for tax purposes ($21,400) is often different from market value. Given the land size and recent market conditions, the sale price would likely be higher, determined by what buyers are willing to pay for the lot's potential.
3. What is the neighbourhood like?
Brooklands is a established, no-frills residential community in Winnipeg. It offers affordability and convenience. Buyers should explore the area firsthand to see if its character and amenities meet their needs.
4. What are the main considerations for expanding or rebuilding?
Key factors will be local zoning bylaws, the cost of construction, and the potential return on investment. A crucial first step would be consulting the City's planning department to understand what is permissible on this specific lot.
5. Why is the living area so much smaller than the lot size?
This was common for homes built in this era, where large lots were standard. Over time, many such properties have been expanded. The current configuration highlights the untapped potential of the site.