Property Overview: 1109 Alfred Avenue, Winnipeg
This one-and-a-half storey home in Burrows Central presents a straightforward opportunity centered on its core asset: the land. Built in 1912, the 1,010 sqft house sits on a 2,284 sqft lot and features an unrenovated basement. The appeal here is largely foundational. Its assessed value is notably low, positioning it as an accessible entry point into the market. The living space is modest but functional for its neighbourhood context.
The property suits pragmatic buyers, such as first-time investors or homeowners willing to undertake gradual improvements. Its value lies not in current finishes but in its potential. For an investor, the low tax assessment and typical lot size for the area could support a steady rental strategy. For a hands-on buyer, it represents a canvas. A less obvious angle is its appeal to those seeking minimal property tax overhead while building equity slowly through land value and incremental upgrades, rather than paying for modernizations done by others.
Key Details & FAQs
What are the key characteristics?
The home is a 114-year-old, one-and-a-half storey structure with 1,010 sqft of living space, an unrenovated basement, and no garage. The lot is 2,284 sqft.
Where does its main appeal lie?
Its primary appeal is its affordability and land value within a established neighbourhood. The very low assessed value suggests a lower property tax burden, making it a cost-effective holding or a starter project.
Who is this property best suited for?
It is best suited for value-conscious investors looking for a rental property, or for owner-occupants who are comfortable with a home that requires updates over time. It is likely less suitable for those seeking immediate move-in condition or modern amenities.
How does the lot size compare?
The lot is below average in size for both the immediate street and the wider city, but it is typical for the central Burrows Central neighbourhood. This is not an expansive lot, but it is standard for the area's built form.
What is the condition of the basement?
The listing specifies the basement exists but is "not renovated." Buyers should anticipate needing to assess its condition and potential for finishing, factoring in necessary updates or repairs.