Property Summary: 986 Alfred Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, century-old (built 1914) one-and-a-half storey home in the Burrows Central neighbourhood. Its primary appeal lies in its position as an accessible entry point into the Winnipeg market, underscored by a very recent sale. The lot size (2,281 sqft) is modest, especially compared to city-wide averages, and the living space (736 sqft) is cozy, placing it well below average in size for the local street and area.
The home suits a specific buyer: those seeking a low-cost foundation, such as first-time buyers comfortable with a project, or investors looking for a straightforward rental property. Its value is largely in the land and the structure's potential, not in current finishes or size. A thoughtful perspective is that its smaller scale and lower taxes could align well with minimalist living or as a strategic hold in a neighbourhood where many lots are similarly sized, offering a realistic starting point without the premium of a larger, renovated home.
Section 2: Frequently Asked Questions
1. What is the true condition of the basement?
The listing notes a basement that exists but is "not renovated." Prospective buyers should budget for a professional inspection to understand if it is simply unfinished or if there are moisture, structural, or foundational issues common in homes of this age.
2. How do the property taxes compare?
With a relatively low assessed value (around $16,900), the municipal property taxes are likely correspondingly low. This is a key ongoing cost advantage for budget-conscious owners.
3. What does the recent sale price indicate?
The home sold for $19,300 in October 2024, which is close to its assessed value. This suggests the market validated it as a land-value or foundational property, not one with premium upgrades or finishes.
4. Is there potential for expansion or addition?
Given the modest living area and lot size, any significant expansion would be challenging. However, thoughtful interior reconfiguration or a careful rear addition might be possible, subject to zoning bylaws and lot coverage rules.
5. What is the neighbourhood context for value?
The home's metrics (size, value) are generally below average city-wide but are more typical for Burrows Central. This indicates you are buying into an established, no-frills area rather than an appreciating hotspot, which is reflected in the price.