Property Overview: 1073 Alfred Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, century-old (1919) one-and-a-half storey home in the Burrows Central neighbourhood. Its key characteristic is its modest scale, with 768 sqft of living space on a 2,284 sqft lot. The home has an unrenovated basement and no garage. The appeal lies primarily in its position as an entry-point property. With a recently sold price and assessed value significantly below city averages, it represents one of the most accessible homeownership opportunities in Winnipeg. This isn't a move-in-ready showhome; its value is in the land and the structure's potential.
It would suit a very specific type of buyer: a hands-on first-time buyer, an investor looking for a hold property, or someone seeking a minimal footprint. The buyer must be comfortable with a home that is smaller and older than most in the city, seeing it as a canvas for gradual improvement or a straightforward asset with low carrying costs. A thoughtful perspective is that its below-average lot size for the area might actually mean less maintenance, which could be a perk for someone seeking simplicity over expansiveness. This is a pragmatic choice for building equity from a low baseline, not for those seeking modern finishes or ample space.
Section 2: Frequently Asked Questions
1. Is this a "tear-down" property?
While the home is small and older, its recent sale suggests it is habitable. Its value is a blend of the land and the existing structure. Whether it's a candidate for replacement depends on the buyer's goals, the home's condition, and local renovation versus rebuild costs.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the home's modest size, age, and likely condition relative to the broader Winnipeg market. It is consistent with other homes of similar scale and assessment in certain neighbourhoods, highlighting the significant price diversity across the city.
3. What does "below average" for the lot size mean for me?
The lot is smaller than many in Burrows Central and Winnipeg. This means a smaller yard to maintain and potentially less outdoor space, but it also could translate to lower property taxes and less time spent on upkeep.
4. Can the basement be finished or renovated?
The listing notes the basement is "not renovated." Finishing it would be a project subject to building codes, moisture control, and ceiling height. It represents a clear opportunity to add liveable space, but would require inspection and investment.
5. How does the recent sale price compare to nearby homes?
The home sold for $12.3k. Nearby referenced properties have a wide range of assessed values (from $13.5k to $270k), indicating a diverse streetscape with vastly different home types and conditions. This sale is on the very low end of that spectrum, consistent with its specific characteristics.