Property Overview & Key Characteristics
This one-and-three-quarter storey home, built in 1905, is a classic West Alexander character property on a generous 2,512 sqft lot. Its key appeal lies in its established location and solid fundamentals: it sits on a lot size that ranks in the top 18% of the neighbourhood and has an assessed value placing it in the top 17% locally. With 1,240 sqft of living space, it offers a practical footprint. The home presents a clear value-adding opportunity, as it features a basement that has not been renovated and a detached garage. Its age and condition suggest it is best suited for buyers looking for a project—whether a hands-on renovator seeking a character home to restore, or an investor looking for a strategic entry into a central Winnipeg neighbourhood with strong redevelopment potential. The property’s high city-wide rankings for lot size and assessed value indicate underlying land value and a desirable location that could outpace the immediate condition of the structure itself.
Frequently Asked Questions
1. What does the assessed value tell me about this property?
At $120k, the assessed value is notably high for the area, ranking in the top 17% of the West Alexander neighbourhood. This often reflects the desirable lot size and location more than the current state of the home, suggesting significant potential value once improvements are made.
2. Is the basement usable?
The listing notes the basement exists but is "not renovated." Buyers should budget for potential moisture-proofing, structural updates, and finishing to make it a functional living or storage space, and anticipate the necessary permits and inspections.
3. Who would this property suit best?
It’s an ideal project for a renovator comfortable with an early-1900s home’s needs or an investor focused on long-term value. It’s less suited for someone seeking a move-in-ready home without a major renovation budget and timeline.
4. How does the lot size compare?
The 2,512 sqft lot is a standout feature, larger than 82% of properties in West Alexander. This provides excellent outdoor space, potential for additions, or simply more breathing room than is typical for the area.
5. What should I consider about the neighbourhood based on the comparable listings?
The provided comparisons show a wide range of assessed values and conditions in West Alexander, from under $10k to over $100k. This indicates a neighbourhood in transition, where your investment in renovation can significantly impact the ultimate value, offering both opportunity and a need for careful due diligence.