Property Overview: 703 Alverstone Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-three-quarter storey home in Daniel McIntyre is a classic Winnipeg character property, built in 1912. With 1,096 sqft of living space and a 2,870 sqft lot, its metrics are consistently "around average" for its immediate street and neighborhood, presenting a solid, typical offering for the area. A key feature is the detached garage, adding practical storage or workshop space. The home’s appeal lies in its established location and the opportunity inherent in its unrenovated basement—a blank canvas for customization. The assessed value of $200K positions it as a more accessible entry point into the city’s housing market compared to the much higher citywide average.
This property would suit a pragmatic first-time homebuyer or an investor looking for a character home in a central neighborhood without a premium price tag. It’s also a match for someone comfortable with a project, as the basement and the home’s age suggest potential for updates. A less obvious perspective is that its very "averageness" for the area is a strength; it represents a stable, known quantity without the volatility or premium of a top-tier ranking, offering a grounded purchase.
Section 2: Frequently Asked Questions
1. What does "one-and-three-quarter storey" mean?
This is a common architectural style in Winnipeg, typically featuring a full main floor and a second floor where the roofline slopes inward, reducing the square footage of the upper rooms. It offers more space than a bungalow but often with unique, cozier second-floor rooms.
2. Is the $200K assessment a reliable indicator of market value?
The assessment is for municipal tax purposes and is a historical snapshot. Notably, it is significantly below the citywide average for assessed values, which may reflect the home’s age, condition, or neighborhood. Always rely on a current market evaluation and recent comparable sales for pricing.
3. What should I consider about the unrenovated basement?
An unrenovated basement requires a thorough inspection for moisture, foundation integrity, and the state of mechanical systems (like the furnace). While it offers customization potential, budgeting for necessary upgrades or repairs is essential.
4. How does this home compare to others nearby?
The data shows this home is consistently middle-of-the-pack on its street and in Daniel McIntyre for size, value, and lot size. It’s not the largest or newest, but it’s also not the smallest or most dated. This suggests a balanced option among the neighborhood's housing stock.
5. The home was last sold in 2020. What does that imply?
A sale four years ago indicates the current owners have held the property for a moderate period. It’s useful to see what price it transacted for then, but market conditions have likely shifted. This history doesn’t preclude significant changes or updates since that purchase.