Property Overview
This one-and-three-quarter storey home on Alexander Avenue presents a distinctive opportunity in Winnipeg's Centennial neighbourhood. Built in 1884, it is a property defined by its historical roots and practical potential rather than modern finishes. The appeal lies in its generous 1,492 sqft living area—which is notably larger than many homes on its street—coupled with a manageable 2,617 sqft lot. It features a detached garage and a basement that is present but unrenovated. Recent sale activity suggests a market that recognizes its value as a solid, character-filled structure.
This home would suit a specific type of buyer: a hands-on renovator or investor who sees value in the existing spacious floor plan and is prepared to update the interior over time. It’s also a practical entry point into homeownership for those comfortable with a project, or for someone seeking a character home without the premium lot size or price tag of a fully restored property. A less obvious perspective is its potential as a multi-generational or shared living space, given its above-average living area for the immediate area and its straightforward, functional layout.
Frequently Asked Questions
1. What is the true condition of the home?
The data indicates the home has not been recently renovated. The basement is noted as existing but unrenovated, suggesting the overall condition is likely functional but dated. Buyers should budget for updates and plan for a thorough inspection.
2. Why is the assessed value so much lower than recent sale prices?
The assessed value is a municipal valuation for tax purposes, often lagging behind rapid market changes. The significant jump from a $16,600 sale in late 2022 to a $180,000 sale in mid-2024 indicates a market reassessment of the property's potential, likely based on its living space and lot value.
3. Is the older year of construction (1884) a concern?
It signifies a character home with history, but it requires careful attention. While it ranks as one of the older homes in the area, this also means potential for original features. A specialized inspection for foundations, wiring, and plumbing in a home of this age is essential.
4. How does the lot size compare?
At 2,617 sqft, the lot is around average for the street and neighbourhood but below average citywide. This is typical for the Centennial area and offers a manageable yard without extensive maintenance demands.
5. What does the sale history tell us about this property's market?
The rapid appreciation in sale price over two years points to a strong local demand for homes with its profile: character, space, and renovation potential in established neighbourhoods. It suggests the area is attracting buyers willing to invest in older properties.