Property Overview & Appeal
This one-and-three-quarter storey home on Alexander Avenue is a character property with deep roots, built in 1893. Its key appeal lies in a blend of historical charm and practical updates, notably a renovated basement. With a living area of 1,200 sq ft on a 2,192 sq ft lot, it offers a manageable footprint. The detached garage adds functional value in an urban setting.
The home’s standout feature is its exceptional ranking for lot size within Winnipeg (top 1%), suggesting rare outdoor space potential for the area. While the living space is modest compared to the neighbourhood, the very low assessed value presents a clear value proposition for a specific buyer. This property would suit a first-time buyer, an investor, or a downsizer looking for a character home with foundational updates in the Centennial neighbourhood, without the premium price tag of a fully modernized historic home. Its appeal is practical and financial, offering a chance to own a piece of the city’s history with some renovation work already addressed.
Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean for this home?
This typically describes a home where the second floor has slightly less living area than the main floor, often due to sloped roof lines. It suggests cozy, character-filled upper rooms rather than uniformly square ones.
2. The assessed value seems very low. What does this indicate?
While not a direct market price, a low assessed value relative to similar properties can signal a lower property tax burden. It may also reflect the home’s age, modest size, or the specific valuation methods used by the assessor, not necessarily its condition.
3. How significant is the "top 1% in Winnipeg" ranking for lot size?
It’s a notable data point, indicating this lot is larger than 99% of properties in the city. For a central neighbourhood, this could mean valuable extra outdoor space, a larger garden, or more distance from neighbours than is typical.
4. The home is over 130 years old. What should I be most concerned about?
Beyond the renovated basement, primary considerations for a home of this age would be the state of major original systems: the foundation, roof, wiring, and plumbing. An inspection focused on these century-old elements is crucial.
5. Why are the comparable "similar assessed value" properties in different neighbourhoods?
The comparison is based on municipal assessment value alone, not location, style, or size. It highlights that, for tax purposes, this home is grouped with properties of similar municipal valuation across Winnipeg, which may be very different in character.