Property Overview: 602 Alverstone Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in Daniel McIntyre is a classic Winnipeg character property, built in 1912. With 1,332 sqft of living space, it offers more room than many comparable homes in both the immediate area and the neighbourhood. A key feature is its 3,277 sqft lot, which is notably larger than average for the city and provides valuable outdoor space in a central location. The home includes a detached garage and an unrenovated basement, presenting a canvas for future improvements.
Its appeal lies in its solid fundamentals: above-average interior and land space for the area at a municipal assessed value that positions it as an accessible entry point into the market. It suits buyers looking for a character home with room to grow, whether that’s through gradual updates, gardening, or simply having more space than a typical infill lot allows. It’s a practical choice for those who value location and lot size over modern finishes, appealing to first-time homeowners, investors, or downsizers seeking a manageable property with inherent value in its land.
Section 2: Frequently Asked Questions
1. Why is the assessed value significantly lower than the citywide average?
The assessed value is based on municipal valuation for tax purposes and is heavily influenced by the home’s age, condition, and the specific market of the Daniel McIntyre area. It reflects a more affordable segment of the Winnipeg market and is not a direct indicator of final sale price.
2. What does "unrenovated basement" typically imply?
This usually means the basement is in original or functional condition, but may lack modern finishes, an updated ceiling, or moisture-proofing. It should be inspected to understand its potential for finishing or the need for foundational or moisture control work.
3. How does the lot size benefit a buyer?
The larger-than-average lot is a standout feature. It offers more privacy, space for landscaping, gardening, or outdoor living, and potentially better parking or storage options. In the long term, lot size is a permanent asset that often appreciates independently of the structure.
4. The home last sold in January 2022. What should I consider?
This recent sale means the current market price will be closely tied to 2022 values plus subsequent market changes. It’s worth investigating why it’s being sold again so soon, but it also indicates modern ownership history.
5. Is the older age of the home (1912) a concern?
While it offers character, it necessitates a thorough inspection for century-old home considerations: the state of wiring, plumbing, insulation, and the roof. The "half-storey" second floor may also have sloped ceilings and cozier dimensions. Budgeting for maintenance and updates is essential.