764 Alfred Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a compact, older home in Winnipeg’s William Whyte neighbourhood. The living area is 640 square feet—well below average at every level: on its street, in the neighbourhood, and citywide. The assessed value of $85,000 reflects this, landing near the bottom of the market. Built in 1912, it’s typical for the area but notably older than the citywide average. The land is a modest 3,004 square feet, also below what you’d find in most parts of Winnipeg, though it holds its own relative to immediate neighbours.
The appeal here is primarily about affordability and location within an established, older neighbourhood. This isn’t a house for someone seeking space, modern finishes, or long-term land value appreciation. It suits a buyer with a very limited budget who values being in a central, built-up area of the city over square footage or condition. It could also appeal to someone looking for a small-scale renovation project or a low-cost entry point into homeownership—provided they’re realistic about both the size and the surrounding context. The land-to-building ratio is reasonable, which sometimes matters more to buyers than the house itself, especially if they’re looking at long-term redevelopment potential in an older neighbourhood.
Frequently Asked Questions
1. Why is the assessed value so low compared to the city average?
The assessed value ($85,000) is tied to the small living area, older construction, and the neighbourhood’s overall market. Citywide, comparable homes average $390,100, but those tend to be larger and newer, and are located across a much wider range of areas. This property is ranked in the bottom few percent citywide by value, so the gap is not unusual for its type.
2. Is the property worth considering as an investment?
That depends on your goals. The low purchase price means a lower barrier to entry, but the resale market will likely remain limited unless the neighbourhood sees significant upward pressure. The land size is slightly below average on the street but above the median in the neighbourhood, so the site itself may hold some long-term potential if zoning or demand shifts—but that’s speculative.
3. How does the year built affect insurance or maintenance?
Homes built in 1912 often have older systems, foundations, and materials that can mean higher insurance premiums and more frequent maintenance. Buyers should budget for inspections that cover knob-and-tube wiring, lead paint, and potential foundation issues. It’s not a dealbreaker, but it’s a real factor in ongoing costs.
4. What kind of neighbourhood amenities are nearby?
The data doesn’t specify amenities, but William Whyte is a central Winnipeg neighbourhood with access to older commercial corridors, transit routes, and proximity to the North End and downtown. Buyers should explore the immediate block and surrounding streets in person to get a feel for current conditions and foot traffic.
5. Would this property suit a first-time buyer?
It could, if the buyer is financially cautious and understands the trade-offs. The price is accessible, and the small footprint means lower utility costs. But the low ranking for assessed value and living area suggests limited upside unless major work is done. A first-time buyer here should plan for a longer hold period and be prepared for the quirks of an older home.