555 Alfred Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 934 sqft home built in 1928 on a 3,267 sqft lot, located in the William Whyte neighbourhood of Winnipeg. Its assessed value is $177,000.

What stands out: The property’s strongest feature is its land. The lot is larger than average for the street (top 25%) and sits at the neighbourhood average, which gives it a meaningful advantage in a part of the city where lot sizes can be tight. The assessed value is also notably above both street and neighbourhood averages—about 8% above the street median and nearly 19% above the neighbourhood median. This suggests the home has retained or gained value relative to its immediate peers, possibly due to updates, condition, or the land itself. The living area, however, runs small—below the street, neighbourhood, and city averages—so interior space is a trade-off.

Appeal and less obvious angles: The year built (1928) places it among older housing stock citywide, but within William Whyte that’s actually near the median—many neighbouring homes are from the same era. That means the area’s character is established and unlikely to shift dramatically due to new infill. For a buyer who values a mature neighbourhood with established trees and denser street patterns (as opposed to sprawling suburbs), this fits. The smaller living area could appeal to someone looking to downsize from a larger home without leaving a central neighbourhood, or to an investor seeking a property with a strong land-to-building ratio for future expansion.

Who it suits: First-time buyers who want an affordable entry into a central Winnipeg neighbourhood and are comfortable with a compact floor plan. Also, buyers who prioritize outdoor space, gardening, or the potential to add square footage later. Less suited for someone needing a large open-concept layout or a newer home with modern finishes throughout.

Five Possible FAQs

1. How does the assessed value compare to what I might pay?
The current assessed value is $177,000, which is above the street and neighbourhood medians. That means the city’s valuation is already on the higher side for this area. Sale prices can differ, but this gives you a baseline—expect that any offer near or above this number would be consistent with how the city views the property relative to others nearby.

2. Is the small living area a problem for resale?
It could be a limiting factor for some buyers, but it’s not unusual for the area—the street and neighbourhood averages are only about 150 to 220 sqft larger. The home is not an outlier. The larger lot compensates somewhat, since many buyers in this price range are willing to trade interior space for outdoor room.

3. What kind of condition should I expect from a 1928 home?
Older homes often have solid framing and good bones, but systems (electrical, plumbing, roof) may be original or updated at different times. You’ll want to check for knob-and-tube wiring, cast iron drains, and the age of the furnace and windows. The assessed value being above the neighbourhood median might indicate that some updates have been done, but that’s not guaranteed.

4. How does the lot size affect my options?
At 3,267 sqft, the lot is generous for the street but typical for the neighbourhood. That means you have more privacy and outdoor flexibility than many nearby homes, but you’re not sitting on an oversized parcel that would be hard to maintain. It’s also a lot that could support a garage, a large garden, or even a future addition, pending zoning and permits.

5. What is William Whyte like as a neighbourhood?
It’s an older, central Winnipeg neighbourhood with a mix of single-family homes and some multi-unit housing. The housing stock is predominantly early 20th century, so the streets have a settled, not suburban, feel. Convenience to downtown and the North End is good. It’s an area that has seen some reinvestment in recent years, but it’s still relatively affordable compared to more central or southwest Winnipeg neighbourhoods.