Key Characteristics & Buyer Profile

This is a 542-square-foot property built in 1905 on a 2,149-square-foot lot at 885 Alexander Avenue. In almost every measurable category—living area, lot size, assessed value, and age—it sits well below local and citywide averages. On its own street, it ranks in the bottom 1–2% for size and value. The assessed tax value is $86,000, compared to a street average of $184,000 and a city average of $390,000.

The appeal here is not in space or modern updates. It lies in entry-level affordability within an older, central neighbourhood. For a buyer who wants a foothold in Winnipeg’s West Alexander area without paying for square footage they don’t need, this property offers a low barrier to entry. It would suit someone looking for a small, fixer-upper or a starter home with potential, particularly if they’re handy or open to incremental improvements. It may also appeal to investors seeking a low-cost rental or teardown opportunity on a modest lot, provided zoning allows. The property is not for buyers seeking move-in-ready space, contemporary finishes, or a comparable footprint to what’s typical in the city.

Five Possible FAQs

1. Why is the assessed value so much lower than the street average?
The $86,000 assessment reflects both the small living area and the property’s age and condition relative to other homes on Alexander Avenue. Assessments are based on market value at a point in time, and this home ranks near the bottom of its street for size and value.

2. Is this property a good candidate for renovation or expansion?
The lot is 2,149 square feet—below average for the street and the neighbourhood. Any renovation or addition would need to work within that footprint and comply with local zoning and setback rules. A small-scale renovation is more realistic than a major expansion.

3. How does the 1905 build affect insurance or maintenance?
Older homes often have outdated electrical, plumbing, or insulation. Buyers should budget for a thorough inspection and expect higher ongoing maintenance than a newer house. Insurance premiums may also be higher, depending on the condition of the roof, wiring, and heating system.

4. What’s the neighbourhood like in West Alexander?
West Alexander is an established, central Winnipeg area with a mix of older single-family homes and some multi-unit buildings. It’s close to downtown, the North End, and the river. Buyers should look into street-level conditions, nearby amenities, and any current or planned developments that could affect property values.

5. Could this property be used as a rental or investment?
Possibly, but the low assessment and small size suggest modest rental income. The property’s attractiveness to tenants will depend on its condition, location, and market rents in the area. Investors should run realistic numbers based on local vacancy rates and repair costs, not just the low purchase price.