Key Characteristics & Buyer Profile
This is a 1,080-square-foot home on Alfred Avenue in Winnipeg’s William Whyte neighbourhood, built in 1903. Its defining feature is the low assessed value—$81,000—which sits well below the street, neighbourhood, and city averages. That translates directly into lower property taxes, making it a genuinely affordable entry point in a market where the citywide median assessment is $390,000.
The living space is close to the street and neighbourhood averages, and the lot (3,003 sq ft) is also typical for the area. The home is older than most of its peers, even within a neighbourhood where the average build year is 1927. That suggests a property that may need more maintenance or updating, but also one that likely has the bones and character of a pre-war house.
This property suits a buyer who values low carrying costs over modern finishes, and who is comfortable taking on renovation work over time. It may also appeal to someone investing in a lower-priced area of Winnipeg, where the gap between purchase price and potential after improvements could be meaningful. It’s less suited to someone looking for a turnkey home or a lot with room to expand vertically or outward.
Five Possible FAQs
1. Why is the assessed value so much lower than the city average?
The assessment reflects the home’s age, condition, and the local market in William Whyte. The street and neighbourhood both have below-city-average values, and this property falls at the lower end even within that context. Low assessments can mean lower property taxes, but they can also signal deferred maintenance or a smaller, older structure compared to newer developments.
2. Is a 1903 build something to be wary of, or can it be a good thing?
Older homes often have solid framing and materials not common in modern construction, but they also come with risks: outdated electrical, plumbing, insulation, and potential for lead paint or asbestos. A thorough home inspection is essential. For someone who values character or plans to renovate gradually, the age isn’t necessarily a dealbreaker—but it requires realistic budgeting for repairs.
3. How does this home compare to others on the same street?
The living area is about average for Alfred Avenue, and the lot is slightly smaller than typical. The main difference is the assessed value—$81,000 vs. the street average of $164,000—and the build year, which is among the oldest on the street. So it’s one of the more affordable and older homes in the immediate area.
4. Does a low assessment mean the sale price will also be low?
Not always. Assessments are used for tax purposes and can lag behind market conditions. The actual sale price depends on demand, condition, and recent sales of comparable homes. A very low assessment can sometimes mean a buyer gets a tax advantage, even if the purchase price is higher than the assessed figure.
5. What should I know about the William Whyte neighbourhood?
William Whyte is an older, central Winnipeg area with a mix of early 20th-century housing. It’s more affordable than many parts of the city, which attracts first-time buyers and investors, but it also has a reputation for being in transition. Buyers should look into local amenities, school catchment areas, and long-term development plans to get a realistic sense of the area’s direction.