Property Overview & Key Characteristics

This 1,120 sqft, one-and-three-quarter storey home, built in 1903, sits on a notably large 2,590 sqft lot in Winnipeg's West Alexander neighbourhood. Its primary appeal lies in a combination of established character and quantifiable value metrics. The property ranks in the top 6% citywide for lot size and in the top 1% for both its assessed value ($100k) and its last sold price ($111k in 2021), suggesting a history of being valued well above area norms. While the basement is noted as unrenovated and there is no garage, the home offers the potential of a classic layout and significant outdoor space for an inner-city location.

This home would suit a value-conscious buyer looking for a solid entry point into a central neighbourhood, who is prepared for the maintenance and potential updating common with a century-old property. It's particularly compelling for those who prioritize land size and see the unrenovated spaces as a blank canvas. The strong assessed value history may also appeal to investors or buyers seeking a property with a stable financial footprint in the city's context.

Frequently Asked Questions

1. What does the "assessed value" ranking mean?
The home's assessed value of $100k places it in the top 4% on its street and top 1% in Winnipeg. This indicates the city has consistently appraised it significantly higher than most properties, which can be a marker of perceived long-term value or stability, though market price is determined by buyers.

2. The lot is large, but is the house itself a good size?
At 1,120 sqft, the living area is fairly typical for the neighbourhood, ranking near the middle. The appeal is the balance: you get a standard-sized character home plus an outsized lot, which is rare and offers more private outdoor space or future potential than most nearby properties.

3. The home is 123 years old. What should I consider?
While it offers classic charm, expect features and systems consistent with its age. The unrenovated basement is explicitly noted, so factoring in potential updates for plumbing, electrical, or insulation is wise. Its enduring high assessed value, however, suggests it has been a solidly maintained structure.

4. Who might this property not suit?
Buyers seeking a move-in-ready home with modern, open-concept layouts and finished basement space may find the work required daunting. Similarly, those who require off-street parking or a garage should note its absence.

5. How does the last sale price compare to the assessment?
It sold for $111k in 2021, which was 11% above its current assessed value at that time. This pattern of selling above assessment is consistent with its high percentile rankings and indicates a market history of buyers agreeing the property is worth a premium.