Property Overview & Appeal
This one-and-three-quarter storey home on Alfred Avenue is a classic, no-frills property that presents a clear opportunity. Built in 1907, its key characteristics include a 968 sqft living area and a full, unrenovated basement on a notably spacious 2,281 sqft lot, which ranks in the top 7% for size on its street. The home lacks modern updates like a renovated basement or a garage.
Its primary appeal lies in its value as a solid foundation. The large lot is a significant asset, offering potential for expansion, gardening, or simply more outdoor space than is typical. With a very low assessed value, it suits buyers looking for an affordable entry into homeownership, particularly those interested in a long-term project. It would be ideal for a hands-on buyer, an investor seeking a rental property with a strong land component, or someone content with a modest footprint who prioritizes yard space over a modern interior. A less obvious perspective is its appeal to a buyer interested in historical homes, willing to steward a 119-year-old structure while making gradual, thoughtful updates.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a common architectural style for older Winnipeg homes. It typically means the second floor has sloped ceilings following the roofline, with full-height walls only in the center of the rooms. It offers functional upstairs space but with a cozier feel than a full two-storey.
2. The assessed value seems very low. What does this indicate?
The low municipal assessment primarily reflects the home's age and lack of recent renovations compared to the local market. It is not a direct market price but suggests the current tax basis is low. The sale price will be determined by current market conditions and buyer demand for the lot and location.
3. What are the implications of the "unrenovated" basement?
This means the basement is in original or utilitarian condition. It provides functional space for storage, laundry, or mechanical systems but will require significant investment for finishing. Buyers should budget for potential updates to flooring, walls, and moisture control, and have it inspected for foundational integrity.
4. The lot is large, but what can I actually do with it?
The generous lot size is a major feature. Beyond a larger yard, it may provide flexibility for future additions (subject to zoning and permits), the installation of a detached garage or shed, or creating substantial garden beds. It's a long-term asset that adds to the property's value.
5. How does this home compare to others on the street and in Burrows Central?
The data shows this home has a larger-than-average lot for the street but a living area and assessed value that are around the middle or below average for the immediate area. This suggests you are purchasing primarily for the land and the structure's potential, not for above-average finished living space.