Property Overview: 893 Alfred Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home in Burrows Central is defined by its practical balance of value and potential. Built in 1917, it sits on a modest 2,731 sqft lot and offers 663 sqft of living space, making it a compact and manageable property. Its key updated feature is a renovated basement, adding functional space, and it includes a detached garage. The home’s standout characteristic is its financial profile: it boasts an assessed value significantly above average for its immediate street and neighbourhood, yet its last recorded sale price was notably accessible. This suggests a property that has been maintained or improved in a way that official assessments recognize, potentially offering equity from the outset.

The appeal here is largely for value-focused buyers seeking an entry point into the market with a low-maintenance footprint. It would suit a first-time buyer, an investor looking for a rental property, or someone wanting a straightforward, no-frills home. The renovated basement adds flexibility for a home office, rental income, or extra living space. A less obvious perspective is that its smaller size and older age, while not flashy, translate to lower utility costs and property taxes compared to larger, newer builds, aligning with a pragmatic, cost-conscious lifestyle. It’s a home for those who see utility and financial prudence as primary virtues.

Section 2: Frequently Asked Questions

1. Is the house unusually small?
Yes. At 663 sqft, the living area is below average for the street, neighbourhood, and city. This confirms it is a compact, efficient layout best suited for individuals, couples, or small families.

2. Why is the assessed value higher than nearby homes?
The assessed value of $21.3k ranks in the top 20% on its street. This typically reflects factors like the renovated basement, overall condition, or improvements that the city’s assessment model recognizes as adding value compared to neighbouring properties.

3. What does the sale history indicate?
It last sold in May 2017 for $19.3k, which was above average for the street at that time. This past sale, combined with the current higher assessment, indicates a history of being valued competitively within its local market context.

4. Who might this property not suit?
It may not suit those needing multiple bedrooms, extensive indoor living space, or a modern open-concept layout. The smaller size and early 1900s build require a willingness to live efficiently or to renovate within an older footprint.

5. How does the lot size impact potential?
The land area is also below average for the area. This means limited potential for large additions or expansive outdoor amenities, but it also makes for less yard maintenance. The focus here is on the existing home and its structures, like the detached garage.