316 Alfred Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 2014-built home with 1,024 sqft of living space on a 3,266 sqft lot, assessed at $246,000. Its standout feature is the year built: it’s one of the newest homes on Alfred Avenue (top 2%) and in the William Whyte neighbourhood (top 4%), where the average home was built around 1929. That means modern construction, likely better insulation, updated systems, and lower immediate maintenance concerns compared to century-old houses nearby.

The assessed value is also notably strong relative to the street and neighbourhood—top 13% on the street, top 7% in the area—suggesting the market has already recognized the value of a newer build in an older context. However, the living area and land size are around average or slightly below citywide norms. The lot is under half the citywide median land area (6,570 sqft), which is typical for infill or more compact urban lots.

Where its appeal lies: The main draw is a relatively new, move-in-ready house in a neighbourhood dominated by older stock. Buyers get the benefit of a modern floor plan and lower renovation risk without the premium price tag of newer suburbs. It’s positioned as a practical alternative to a fixer-upper.

What type of buyer it suits: First-time homeowners who want something turnkey but can’t afford or don’t want a suburban new build. Also, investors or buyers who see potential in an older neighbourhood with a newer asset that may appreciate as the area continues to evolve. Less suitable for someone who needs a large lot, extensive square footage, or is looking for a character home.

Five Possible FAQs

1. How does this home’s living space compare to other homes in the area?
It’s around average for the street and neighbourhood—1,024 sqft is slightly below the street average of 1,084 sqft and the neighbourhood average of 1,158 sqft. Citywide, it’s below the median, but that’s typical for older urban neighborhoods where many homes are larger single-family dwellings. For a newer home in this area, the size is reasonable but not spacious.

2. Why is the assessed value high for the street but low for the city?
On Alfred Avenue and in William Whyte, most homes are older and valued lower, so a 2014 build stands out and gets a higher assessment ($246,000 vs. street average of $164,100). Citywide, however, Winnipeg includes many larger, newer suburban homes with much higher valuations (city median $390,100), so this property falls below that broader average.

3. Is the land area considered small?
It depends on the scope. On the street and in the neighbourhood, the lot size (3,266 sqft) is close to average—ranked top 32% on the street and top 49% in the area. But citywide, where lots often exceed 6,000 sqft, it’s below average. For someone used to a compact urban lot, it’s standard; for someone expecting a spacious yard, it’s limited.

4. How does the year built affect insurance and maintenance?
A 2014 build is relatively new, so major systems (roof, HVAC, electrical, plumbing) are likely within their first 10–15 years of life. That usually means lower immediate maintenance costs and potentially better insurance rates compared to a home from the 1920s. However, it’s not brand-new, so some wear is expected—check the condition of the furnace, water heater, and roof age specifically.

5. What are the downsides of being a newer home in an older neighbourhood?
The home itself may be modern, but the surrounding area still has older infrastructure, older neighbours’ properties, and possibly fewer new-build amenities like community centres or shopping within walking distance. Street character, tree canopy, and lot shapes may reflect the original 1920s layout. Also, resale value could be more tied to the neighbourhood’s overall trajectory than the house alone.