503 Alfred Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1913-built home with 1,486 sq ft of living space on a 3,003 sq ft lot, located on Alfred Avenue in Winnipeg’s William Whyte neighbourhood. What stands out most is the interior size: it ranks in the top 10% on its street and top 18% in the wider area, significantly larger than the local averages of roughly 1,084 sq ft and 1,158 sq ft respectively. City-wide, it sits near the average but still ahead of about two-thirds of homes.

The assessed value is $163,000, which is very close to the street average and slightly above the neighbourhood average. It is well below the city-wide average of $390,000—this reflects the property’s older character and more modest lot size rather than any deficiency in condition.

The lot (3,003 sq ft) is slightly smaller than the street and neighbourhood averages, and notably compact compared to typical Winnipeg lots. The home is over a century old, which places it among older stock even for this area. That said, it is not an outlier: the street’s median build year is 1929, and the neighbourhood’s is 1927.

Where the appeal lies: Buyers get a genuinely spacious interior in a dense, older urban setting, at a price point well below many newer homes. The property likely appeals to those who prioritize room to live over yard space, and who value character and established neighbourhoods over modern construction.

Who it suits: First-time buyers looking for generous square footage without a downtown price tag; renovators or owners comfortable with older-home maintenance; people who want to be in a walkable, central neighbourhood with good street-level character. Less suited to someone seeking a large private lot, a modern open-concept layout as-is, or a turnkey property without potential updates.

Frequently Asked Questions

1. How does this property compare to others on Alfred Avenue?
It ranks 48th out of 476 homes for living area (top 10%), 209th for assessed value (near average), and 297th for lot size (slightly below average). So it’s a standout for interior space, but otherwise very much in line with the street.

2. Is $163,000 a fair assessed value, and what does that mean for taxes?
The assessment is almost exactly the street average and about $14,000 above the neighbourhood average. Property taxes are based on this figure, so they should be moderate and predictable for the area. The city-wide average is much higher, largely because newer and larger homes elsewhere drive it up.

3. The home was built in 1913—what should a buyer expect?
Older homes often have solid construction and character details, but they also come with things like knob-and-tube wiring, older plumbing, possible lead paint, and less insulation. The build year here is typical for the street, meaning many neighbours have similar maintenance profiles. A thorough inspection is wise.

4. Why is the lot size relatively small?
At 3,003 sq ft, this lot is below the street and neighbourhood averages, which are around 3,225–3,277 sq ft. City-wide, lots average over 6,500 sq ft, so this is compact for Winnipeg. That’s common on older, more central streets where land was subdivided more tightly. It means less yard work but also less outdoor space.

5. What’s the neighbourhood like, and is it changing?
William Whyte is a central, established area with a mix of older homes and some recent infill. It’s more affordable than many other Winnipeg neighbourhoods, and its stock of larger older homes can offer good value. Buyers should look at recent sale trends and talk to neighbours—some blocks see steady demand, others are quieter. It’s not a hot market, but it’s stable.