Property Overview
This one-storey home at 908 Alfred Avenue in Winnipeg's Burrows Central neighbourhood presents a practical and straightforward opportunity. Built in 1985, it is a notably newer construction compared to most homes on its street and in the wider area. The home features a renovated basement and a living area of 1,135 sqft, which is spacious for the immediate neighbourhood. Its lot size of 3,004 sqft is typical for the local streetscape. The property’s assessed value is significantly higher than those of its closest neighbours, reflecting its more modern build and updates. Its appeal lies in its relative modernity within a community of older homes, offering move-in-ready basics without the immediate concerns of an aging structure. This would suit a first-time buyer seeking an affordable entry into homeownership, or an investor looking for a stable, low-maintenance rental property in a long-established area. A thoughtful perspective is that while the home is newer, its value is very much anchored to its specific location; it offers physical modern comforts but not the premium lot size or city-wide valuation of newer suburban developments.
Frequently Asked Questions
1. Why is the assessed value so much higher than the neighbouring homes?
The primary reason is the year of construction. Being built in 1985 makes it decades newer than most nearby properties, which date from the early to mid-1900s. This modern build likely means newer major systems (like plumbing and electrical) and a renovated basement, reducing the need for near-term costly upgrades.
2. Is there potential for future expansion or adding a garage?
The 3,004 sqft lot is fairly standard for the street. While there may be space for a rear addition or a detached garage, you would need to investigate specific zoning bylaws and setback requirements for the lot. The lot size is not unusually large, so any expansion would require careful planning.
3. How does the living space compare to a typical home?
At 1,135 sqft, the living area is above average for Burrows Central and comfortable for a small household. It's important to note that this includes the renovated basement space. Compared to the city-wide average, the living area is slightly below, aligning with the more compact, efficient footprint common in many established neighbourhoods.
4. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the details. A prospective buyer should inquire about the finish quality, ceiling height, proper egress, moisture control, and whether it includes a legal secondary suite or is simply finished living space.
5. The home sold for the same price as its assessed value in 2016. What does that indicate?
This suggests the assessed value has remained stable for several years. In this context, it points to a property in a stable, non-speculative market segment. It doesn't necessarily indicate a lack of appreciation, but rather that its value is consistently tied to its physical attributes rather than rapid market fluctuations.