324 Alfred Avenue – Property Summary

Key Characteristics & Buyer Profile

This property stands out primarily for its substantial land and interior space, both of which rank exceptionally well against nearby homes. The lot is 6,532 square feet—top 1% on the street and in the neighbourhood—while the 2,138-square-foot living area also lands in the top 1% on Alfred Avenue and top 3% locally. In a city where the average living area is 1,342 square feet, this is a genuinely large home.

The assessed value of $190,000 is above average for the street and neighbourhood, but well below the citywide average of $390,100. This reflects the property's location in the William Whyte area, where overall values are lower, rather than any shortcoming of the house itself. The year built is 1905, making it one of the older homes in every comparison group—older than 98% of properties citywide.

Where the appeal lies: The combination of a large lot and generous living space at a relatively modest assessed value is unusual. A buyer who values square footage and outdoor space over a modern build or a trendy address would find real value here. The property offers room to expand, renovate, or simply enjoy space that many newer homes lack.

Who it suits: This would work well for a buyer looking for a project—someone who appreciates the bones of an older home and has the patience or budget for updates. It could also suit a family wanting a big yard and plenty of interior room without paying a premium for a more fashionable neighbourhood. Investors or those planning a long-term hold may also see the low entry cost relative to the physical footprint as a strong foundation.

Five Possible FAQs

1. Why is the assessed value so low compared to the city average, when the house and lot are so large?
The assessed value reflects both the location and the condition of the property. William Whyte has lower overall home values than many other Winnipeg neighbourhoods. Additionally, an older home (1905) may have outdated systems or finishes that lower its assessed value relative to newer, more updated homes elsewhere in the city.

2. What does “ranked in the top 1% for land area” actually mean on the ground?
It means this lot is significantly larger than most others on Alfred Avenue and in the surrounding area. The average lot on the street is 3,225 square feet—about half the size. So you’re getting a notably deep or wide yard compared to neighbours, which is rare in this part of the city.

3. How much work should I expect from a house built in 1905?
Older homes often need attention to wiring, plumbing, insulation, and foundation condition. While the data doesn’t speak to the home’s current state, being in the oldest 2% citywide suggests it may lack modern updates. A thorough home inspection is strongly recommended, especially for systems that may be original or near end-of-life.

4. Does the “above average” assessed value on the street mean the property is overpriced?
Not necessarily. It means the city’s assessment places the home’s worth higher than most of its immediate neighbours—which makes sense given it’s larger than most on the street. The assessment is a baseline, not a market price. Actual market value depends on condition, upgrades, and buyer demand.

5. How does this property compare to others in William Whyte for future resale value?
Properties with outsized lots and living areas often hold value differently than smaller homes in the same area. If the neighbourhood sees improvement over time, a large house on a big lot could appreciate more than average. However, older homes can also be harder to sell if they need significant repairs, so the condition and any updates you make will largely determine resale potential.