Key Characteristics & Buyer Profile
257 Alfred Avenue is a 766 sqft home built in 1901, sitting on a 3,263 sqft lot in Winnipeg’s William Whyte neighbourhood. The property ranks in the bottom percentile across the city for both size and age—its living area falls below 86% of homes on the same street and 93% citywide, while its construction year places it among the oldest 3% locally. The assessed value of $106,000 is well below the street average of $164,000 and sits in the bottom 1% citywide.
The appeal here is straightforward: this is an entry-level property in a dense, older urban area. It suits buyers who are less concerned with square footage or modern construction and more focused on land value or a low purchase price. The lot itself is close to the street average, which is notable—unlike the house, the land holds its own relative to neighbours. That mismatch between a small, old structure and a reasonably sized lot makes this property more about potential than present condition. It would likely suit an investor looking for a teardown or major reno, a first-time buyer willing to take on work, or someone specifically priced out of larger or newer homes. The low assessment keeps property taxes manageable, but the age of the building means upkeep and systems should be scrutinized closely.
Frequently Asked Questions
1. Why is the assessed value so low compared to the city average?
The assessment reflects both the small living area and the age of the home. At $106,000, it's far below Winnipeg’s median of $390,000. This is typical for older, smaller homes in lower-density urban areas that haven't seen significant recent renovation or price appreciation.
2. What does the "progress bar" ranking actually tell me?
The rankings compare this property against others on the same street, in the same neighbourhood, and across Winnipeg. The progress bar shows what percentage of comparable homes it outperforms. For example, a 40% score for land area means it's larger than 40% of nearby lots—so it's slightly above average locally but still small citywide.
3. Is the building itself worth keeping, or is it mostly a land play?
That depends on your tolerance for old construction. A 1901 home likely has outdated wiring, plumbing, insulation, and foundation work. If the structure is sound, it could be updated, but the money needed might exceed the home's post-renovation value. For many buyers, the value is in the lot—especially since the land is close to the neighbourhood average while the house is not.
4. How does this property compare to others in William Whyte specifically?
In the neighbourhood, it’s below average in living area (86th percentile), assessed value (73rd), and age (94th). But its land area sits near the middle (53rd percentile). So while the house is small and old, the lot isn't unusually small for the area. That sets it apart from many nearby properties where both house and lot are undersized.
5. What should I look out for with a home built in 1901?
Beyond the obvious (old wiring, lead pipes, asbestos, knob-and-tube), look at the foundation and roof condition closely. Older homes in this price range often have deferred maintenance. Also check for settling or uneven floors, which can indicate structural issues. A home inspection is essential, and you should budget for surprises—even if the assessed value is low, repair costs won't be.