Property Overview

This 832 sqft condominium at 12-854 Alverstone Street is a distinctive property in Winnipeg's Daniel McIntyre neighbourhood. Built in 1912, it presents a unique value proposition centered on location and efficiency rather than size or modern amenities.

Key Characteristics & Appeal

The primary appeal of this property lies in its strong standing within its immediate context. It ranks in the top 7% of homes on Alverstone Street for both living area and assessed value, indicating it is a well-sized and valued unit for this specific street. This trend continues in the broader Daniel McIntyre area, where it places in the top 15% for assessed value. Essentially, it offers above-average space and valuation for its neighbourhood, which can be a sign of a well-maintained unit or a desirable building in the area.

However, the perspective shifts city-wide. Compared to all Winnipeg properties, its 832 sqft is below the city average, and its assessed value of $14,700 is in the bottom 12%. This stark contrast defines its buyer profile: it is perfectly suited for a pragmatic, budget-conscious buyer—perhaps a first-time investor or an owner-occupant seeking minimal property tax liability—who prioritizes value within a specific, established community over competing in the broader city market. Its 1912 construction means it lacks modern build standards, appealing to those comfortable with character and potential maintenance considerations. The recent 2021 sale at nearly double the current assessed value is a critical data point requiring investigation into the reasons for the discrepancy.

Frequently Asked Questions

1. Why is the current assessed value ($14,700) so much lower than the 2021 sale price ($15,800)?
This is the most important question to pursue. The difference suggests either a significant change in the property's condition, a correction in its valuation, or unique circumstances around the prior sale. Consulting the property assessment roll and a real estate professional for clarity is essential.

2. What does "Condo|Basement" mean for this property?
This typically indicates a condominium title for a basement-level unit. Buyers should meticulously review the condo corporation's status certificate for details on fees, rules, reserve fund health, and what responsibilities (like windows, exterior walls) fall to the corporation versus the unit owner.

3. The data shows it's above-average for the street but below-average for the city. What does this mean for me?
It means the property is a strong performer in its immediate, likely more affordable neighbourhood. This can be an advantage if you want to live in Daniel McIntyre specifically. It may not, however, appreciate at the same rate as properties in areas with higher city-wide averages.

4. What are the implications of a building from 1912?
While offering character, a building of this age requires diligent inspection for foundational integrity, plumbing, electrical systems, and insulation. Condo fees should reflect a robust reserve fund for major repairs common in century-old buildings, such as masonry or roof work.

5. Who would this property suit best?
It is a strategic fit for a specific buyer: someone seeking the lowest possible property tax base, an investor looking for a low-cost entry into the market with rental potential, or an owner-occupant who values the Daniel McIntyre location and is prepared for the realities of an older building. It is less suited for those prioritizing space, new builds, or city-wide market comparisons.