389 Alfred Avenue – Property Summary

Key Characteristics & Buyer Profile

This 1,478-square-foot home, built in 1913, sits on a notably large 4,552-square-foot lot. The living area is well above average for both the street (top 11%) and the neighbourhood (top 18%), though it falls slightly below the citywide average of 1,342 square feet. The land is the standout feature, ranking in the top 9% on Alfred Avenue and top 4% in the William Whyte neighbourhood—a rare find in this area, where lots typically run around 3,200 to 3,300 square feet. The assessed value ($155K) is roughly average for the street and neighbourhood, suggesting the property is not overpriced relative to its immediate peers. However, compared to the citywide median ($390K), it’s significantly lower, reflecting the local market rather than any deficiency in the home itself.

The appeal lies in the combination of generous indoor space and a large yard in a neighbourhood where both are uncommon. This is not a polished, move-in-ready starter for someone wanting modern finishes; it’s a home for a buyer who values square footage and outdoor space over trendiness. It would suit a buyer comfortable with an older home (built 1913) who sees potential in the lot—perhaps for gardening, adding a garage, or even future redevelopment. It may also appeal to someone looking to get more house for less money than comparable properties in pricier parts of the city, as long as they’re not expecting a turnkey renovation. The William Whyte area has a mix of older housing stock and ongoing change, so a buyer should be aware of the neighbourhood’s character and trajectory, not just the stats.

Frequently Asked Questions

1. How does the assessed value of $155K compare to what I might actually pay?
The assessed value is a municipal estimate, not a market price. It suggests the property is priced in line with similar homes on the street and in the neighbourhood. However, the large lot and above-average living area could command a premium in a bidding situation, especially if comparable listings are scarce. Check recent sale prices in William Whyte for a more accurate gauge.

2. The citywide ranking for land area is only top 65%—why is the lot considered a big deal?
Citywide averages include newer suburban lots, which are often much larger (6,570 sqft on average). In the William Whyte neighbourhood, lots are typically much smaller, so this property’s 4,552 sqft is exceptional locally. The neighbourhood ranking (top 4%) is the more relevant comparison for a buyer focused on the immediate area and street context.

3. What should I know about a home built in 1913?
Older homes can have solid construction and character details, but they also come with potential issues like outdated wiring, plumbing, lead paint, or foundation settling. The year-built ranking (top 52% on the street) means it’s about average for Alfred Avenue, so many nearby homes are similarly aged. A thorough inspection is essential, particularly for the roof, windows, and mechanical systems.

4. Is the William Whyte neighbourhood a good investment?
That depends on your timeline and risk tolerance. The area has seen some reinvestment in recent years, but it remains below citywide averages in terms of assessed values and home ages. Buyers looking for quick appreciation may be disappointed; those willing to hold for a decade or more, or who plan to improve the property themselves, might find value. The large lot adds long-term flexibility (e.g., subdivision potential), but that’s not guaranteed and depends on zoning.

5. How does the living area compare to what’s typical for a family or downsizer?
At 1,478 sqft, it’s larger than most homes on the street and in the neighbourhood, but smaller than the citywide average. It’s comfortably sized for a small family, a couple, or someone wanting extra room for a home office or guests. It’s not a sprawling suburban floor plan, but it’s more spacious than many older urban homes in Winnipeg.