1231 Alexander Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1,020 sqft home on a 2,509 sqft lot, built in 1894. Its assessed value is $153,000. The property sits in the Weston neighbourhood of Winnipeg.
Where the appeal lies: This home stands out primarily for its low entry price relative to citywide averages. The assessed value is roughly 39% of the citywide average for comparable homes, placing it in the bottom 3% of all properties citywide by value. This makes it one of the most affordable options in Winnipeg’s housing stock. The living area, while slightly below the city average, is actually above average for Weston itself (top third of the neighbourhood). The lot is modest—below average for both the street and neighbourhood, and significantly smaller than citywide norms—which reflects the older, more compact urban fabric typical of this part of the city.
What it wouldn’t suit: That said, the 1894 build date is a real factor. It ranks in the oldest 5% on its street, the oldest 1% in Weston, and among the oldest homes in the entire city. Buyers should expect the maintenance realities and potential retrofit costs (electrical, plumbing, insulation, foundation) that come with a house over 130 years old. This is not a turnkey property for someone seeking modern efficiency or a large yard.
Who it suits best: This property is well-suited for budget-conscious buyers who are comfortable with an older home’s character and its quirks. It could work for first-time buyers looking to get into the market at a low valuation point, or for someone willing to invest sweat equity over time. It may also appeal to investors targeting the lower end of the rental market in Weston, where land costs are already compressed. The key trade-off is clear: you get a low purchase price and a solid interior footprint for the neighbourhood, but you accept an older structure and a small lot.
Frequently Asked Questions
1. How does this home’s assessed value compare to others nearby?
The assessed value is $153,000. On Alexander Avenue, that’s below the street average of $184,300 (top 62% of homes on the street). In Weston, it’s also below the neighbourhood average. Citywide, it’s among the lowest-value homes, ranking in the bottom 3% of all properties.
2. Is the living space typical for the area?
At 1,020 sqft, the living area is slightly above average for Weston (where the average is 936 sqft) and about average for Alexander Avenue. Citywide, it’s below the typical 1,342 sqft, but that citywide figure includes larger suburban homes, so the comparison is less meaningful for this location.
3. How old is the house, and what should I be aware of?
Built in 1894, this is one of the older homes in Weston and on its street. Buyers should budget for possible updates to historic electrical systems, aging plumbing, and insulation that may not meet modern standards. A thorough home inspection is strongly recommended, particularly for the foundation and roof.
4. What’s the lot size like, and what does that mean for outdoor space?
The land area is 2,509 sqft. This is below the street average (2,977 sqft) and well below the Weston average (3,269 sqft) and citywide average (6,570 sqft). It’s a compact urban lot—expect limited yard space, which is typical for older inner-city neighbourhoods. This may suit low-maintenance living but offers little room for expansion or extensive landscaping.
5. Who typically buys homes like this in Weston?
Homes in this price and age range often attract first-time buyers who need an affordable entry point, as well as investors buying for rental income. Some buyers are drawn to the historic character of older West End and Weston homes and are willing to take on renovation projects. The low land cost relative to citywide averages also appeals to those who prioritize location over lot size.