718 Alexander Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1,145-square-foot home built in 1903 on a 2,589-square-foot lot in Winnipeg’s West Alexander neighbourhood. Its main draw is its above-average living area relative to other homes on Alexander Avenue—ranking in the top 26% on the street—while its assessed value is notably low, sitting at $130,000. Citywide, that places it in the bottom 2% for value, which is the property’s most distinctive feature. The lot is slightly smaller than both the street and neighbourhood averages, and the home is older than most comparable properties at every level.
The appeal here is straightforward: a spacious interior for the price, in a part of the city where both assessed values and lot sizes tend to run lower. This isn’t a property that will appeal to someone looking for a turnkey modern home or a large yard. It would suit a buyer who sees potential in an older structure—someone comfortable with the realities of a century-old house, or an investor focused on getting more square footage for a relatively modest outlay. The low assessed value may also appeal to someone watching property taxes closely, though an assessment isn’t a guarantee of future tax rates.
Five Possible FAQs
1. How does the living space compare to other homes nearby?
On Alexander Avenue, this home’s 1,145 square feet is above average (top 26%). In the wider West Alexander neighbourhood, it’s roughly average—most similar homes are around 1,299 square feet. So it’s a bit roomier than its immediate neighbours, but not unusually large for the area.
2. Is the assessed value of $130,000 reflective of the home’s condition?
The assessed value is significantly below the street average of $184,300 and the citywide average of $390,100. Assessments factor in age, condition, and comparable sales, so a low value often points to an older building that may need updates. It doesn’t necessarily mean the home is uninhabitable, but it’s worth investigating the property’s physical condition and recent upgrades before assuming the price tag is a bargain.
3. What does it mean that the home was built in 1903?
It’s older than nearly all comparable properties on the street (top 89%) and citywide (top 99%). That means systems like plumbing, electrical, and insulation are likely original or have been updated at different points. Buyers should budget for potential maintenance and consider a thorough inspection. Older homes can also have charm and solid construction, but they rarely come without quirks.
4. The lot is 2,589 square feet—is that a problem?
It’s slightly below the street average (2,977 sqft) and well below the neighbourhood average (3,591 sqft). Citywide, it’s in the bottom 6% for lot size. If outdoor space, gardening, or future expansion are priorities, this lot may feel tight. But for someone more focused on indoor square footage or a lower purchase price, it’s a trade-off that makes sense.
5. Who is this home actually a good fit for?
It’s best suited to a buyer who values interior space over land, isn’t put off by an older home, and is price-conscious—especially in terms of property tax exposure. It could also work for an investor looking for a rental property with a lower entry point, provided the home is structurally sound. It’s less ideal for someone wanting a move-in-ready home with a big yard or a modern layout.