Property Overview & Key Characteristics
This two-storey home at 386 Alexander Avenue in Winnipeg's Centennial neighbourhood presents a practical opportunity. Built in 1984, it is notably newer than many homes on its street and in the wider area. Its key feature is a renovated basement, adding functional living space to the 1,238 sqft main footprint. The property sits on a 4,182 sqft lot, which is spacious for the immediate area, offering above-average outdoor space compared to local peers.
The appeal lies in its relative modernity within a historic context, the turn-key condition of the basement, and the value of its lot size. It suits first-time buyers or investors looking for a lower-entry point into the market with some immediate updates already completed. A thoughtful perspective is that while the home's assessed value is modest citywide, it is consistent with its local market, suggesting it's priced for its specific context rather than being an outlier. The data indicates you are purchasing a property that is competitive and fairly typical for its direct surroundings.
Frequently Asked Questions
1. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A professional inspection is recommended to determine the quality of the renovation, the materials used, and whether it includes added bedrooms, a legal suite, or simply finished living space.
2. How does the lack of a garage affect parking and storage?
The property has no garage. Buyers should consider on-street parking availability and may need to budget for alternative storage solutions or the potential future addition of a shed or parking pad, subject to local bylaws.
3. The assessed value seems low. What does this mean for property taxes?
The assessed value is for municipal tax purposes and is not the market value. A lower assessment typically translates to lower annual property taxes compared to a home with a similar market price but a higher assessment, which can be a financial advantage.
4. The home is newer than its neighbours. Are there any implications?
A newer home (1984) among older ones can mean more modern construction standards, potentially fewer immediate major repairs, and different architectural style. It’s wise to check if any original components, like the roof or windows, are nearing the end of their lifespan.
5. How does the lot size compare, and what are the possibilities?
At 4,182 sqft, the lot is larger than many in the Centennial area. This provides more private outdoor space than typical and could allow for future landscaping projects, gardens, or expansions, always subject to zoning regulations and permit approvals.