487 Alfred Avenue – Property Summary
Key Characteristics, Appeal, and Ideal Buyer
This is a 1,344 sqft home built in 1913 on a 3,003 sqft lot, located on Alfred Avenue in Winnipeg’s William Whyte neighbourhood. Its assessed value is $167,000.
The property’s strongest feature is its living space. At 1,344 sqft, it ranks in the top 17% on its street and top 26% in the neighbourhood—significantly larger than the local averages of 1,084 sqft and 1,158 sqft, respectively. Citywide, it sits right around the average for comparable homes.
The assessed value tells a more interesting story. While the home is priced near the street and neighbourhood averages ($164,100 and $149,100), it ranks in the bottom 5% citywide compared to all similar properties. This means you’re getting a home with above-average interior space in a corner of the market where prices haven’t followed the city’s upward trends. The lot (3,003 sqft) is slightly below the street and neighbourhood averages but smaller than typical city lots—a trade-off that keeps the yard manageable.
The age (1913) is a clear consideration. It’s older than the street and neighbourhood averages, and significantly older than the citywide average of 1966. Buyers should expect character details from that era but also plan for upkeep typical of a century-old home.
This property would suit a buyer who values interior square footage over lot size and is comfortable with an older home. It’s a strong fit for someone looking for more space than the local average without paying a premium, especially if they’re already focused on the William Whyte area. It may also appeal to buyers who see long-term value in a neighbourhood where assessed values haven’t yet caught up to the citywide median.
Five Possible FAQs
1. How does the living area compare to other homes in the city?
It’s essentially average citywide (top 39%). Where it stands out is on its own street and in its neighbourhood, where it’s well above typical sizes.
2. Is the assessed value of $167,000 a good deal?
Compared to the street average ($164,100) and neighbourhood average ($149,100), it’s aligned or slightly above. But relative to the citywide average for comparable homes ($390,100), it’s far below. The value reflects the local market more than the property’s actual size.
3. What should I know about a home built in 1913?
Expect solid wood framing, likely original plaster walls, and possibly knob-and-tube wiring or galvanized plumbing that may need updating. Older homes often have good bones but require ongoing maintenance for the roof, foundation, and mechanicals.
4. How does the lot size affect usability?
At 3,003 sqft, it’s a typical city lot for this street and neighbourhood, but smaller than the average Winnipeg lot (6,570 sqft). It’s big enough for a garden or small shed, but not for major additions or extensive outdoor projects.
5. Why is the citywide ranking so low for assessed value but high for living area?
Two different metrics. Living area ranks well because the home is spacious. Assessed value ranks low because it’s in an area where property values haven’t risen as fast as the rest of Winnipeg. That gap is exactly what makes the home worth a closer look.