Property Overview: 1031 Alfred Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1914, presents a straightforward opportunity in the Burrows Central neighbourhood. Its primary appeal lies in its value proposition and potential. With a modest 1,008 sqft of living space and a detached garage, it suits a buyer comfortable with a home that requires updates, as the basement is noted as unrenovated.
The lot size of 2,504 sqft is smaller than average for both the street and the city, which could mean lower maintenance but less private outdoor space. Interestingly, the home’s assessed value ranks above average for Alfred Avenue, suggesting it may be viewed favorably compared to its immediate peers, despite its age and condition. This creates a distinct dynamic: it's a historic property on a smaller lot that holds its value well within its local context.
This property would suit a first-time buyer, an investor, or a hands-on individual looking for an affordable entry into the market with a clear canvas for personalization. Its value is rooted more in its land and location than in its current finishes, making it a practical choice for those whose priorities are affordability and potential over immediate move-in readiness.
Frequently Asked Questions
1. What does "above average assessed value for the street" actually mean?
It means that, compared to other homes on Alfred Avenue, this property’s official assessed value is higher than most. This can sometimes indicate better maintenance, desirable features, or a more favorable lot compared to its neighbours, even if the home itself needs work.
2. Is the smaller lot size a disadvantage?
It depends on your priorities. A smaller lot requires less upkeep and can be a benefit for those seeking a low-maintenance yard. However, it may offer less privacy or space for expansions, gardens, or large outdoor gatherings compared to larger plots in the area.
3. The home was last sold in July 2022. What does that recent sale indicate?
The sale two years ago suggests the current ownership has been relatively short-term. This can be a neutral point, but it may be worth inquiring about the seller’s reason for moving to understand if there are any underlying factors.
4. What should I expect with a 110-year-old home?
You should budget for and expect ongoing maintenance, potential updates to electrical or plumbing systems, and a higher likelihood of repairs compared to a newer build. The character and build quality of an older home can be appealing, but a thorough inspection is essential.
5. How does the living space compare to nearby homes?
At just over 1,000 sqft, the living area is fairly typical for Alfred Avenue and is actually slightly larger than the average for the Burrows Central neighbourhood. This suggests the home’s interior size is competitive and functional for the area, despite the overall property footprint being smaller.