Property Overview
This one-and-a-half storey home on Alfred Avenue in Burrows Central presents a straightforward opportunity centered on its lot and location. Built in 1914, it features 992 sqft of living space, an unrenovated basement, and no garage. The key characteristic is its 3,005 sqft lot, which is above average for the immediate area. The home’s assessed value is notably modest, placing it well below the Winnipeg city average.
Its primary appeal lies in its potential as a land-value proposition or a foundational project. For the price, you secure a standard-sized lot in an established neighbourhood. It would suit a practical, value-conscious buyer—perhaps a first-time investor looking for a hold property, a homeowner with solid renovation skills seeking to add value, or someone prioritizing lot size over move-in condition. It’s not for those seeking modern finishes or a turnkey solution, but for the right buyer, it represents a canvas.
Frequently Asked Questions
1. What does "unrenovated basement" typically imply?
It usually indicates the basement is in its original or functional state, likely with concrete walls and floors, and may be suited for laundry and storage rather than finished living space. A professional inspection is advised to check for moisture issues or necessary updates.
2. How significant is the lot size here?
At over 3,000 sqft, the lot is a standout feature for the Burrows Central area, where many properties are on smaller plots. This could allow for future expansion, gardening, or outdoor space that is less common on neighbouring streets.
3. The assessed value seems very low. Does that indicate a problem?
Not necessarily. The assessed value is for municipal tax purposes and is often below market value, especially for older homes in core neighbourhoods. This specific assessment reflects the home’s age, condition, and the lower average values in the immediate area compared to the wider city.
4. What are the considerations with a 110-year-old home?
While offering character, key systems like plumbing, electrical, and the foundation may require evaluation and updating. The potential for knob-and-tube wiring or original plumbing should be factored into renovation plans and budgets.
5. Who are the most likely buyers for a property like this?
Given its condition and price point, likely buyers include contractors or skilled DIY owners planning a renovation, investors considering a long-term hold or future redevelopment, or buyers who see value in securing an affordable entry into the neighbourhood with a standard-sized lot.