Section 1: Overview and Ideal Buyer Profile

This is a 1905-built, 860-square-foot single-family home on Alfred Avenue in Winnipeg's William Whyte neighbourhood. Its key characteristics place it well below average in both living space and assessed value compared to the street, the community, and the city at large. The property’s strongest feature is its lot: at 3,268 square feet, it is slightly larger than both the street and community averages. This is a modest, older home—one of the oldest on the street (ranked in the bottom 15% by age) and priced accordingly, with an assessed total value of $115,000.

The appeal here is not in move-in-ready polish or generous square footage. Instead, the property offers a low barrier to entry in a neighbourhood where the median assessed value is roughly $149,000. The land-to-building ratio is favourable: the lot is substantial for the size of the house, which suggests potential for expansion, a garage build, or simply outdoor space that is uncommon for a home in this price tier. The rankings confirm that while the house is small and old, the land is a relative asset—ranking in the top 19% on the street and top 42% in the community.

This property would suit a buyer who is comfortable with a hands-on approach: an investor looking for a value-add opportunity, a first-time buyer whose budget prioritizes low cost over modern finishes, or someone interested in a renovation project where the land holds more long-term value than the existing structure. It is not ideal for someone seeking a turnkey home or a property that will compare well on resale without significant work.

Section 2: Five Frequently Asked Questions

1. Why is the assessed value so low compared to the city average?
The assessed value of $115,000 places this home in the bottom 1% of Winnipeg. This reflects the combination of its age, small living area, and location within a lower-priced neighbourhood. It is not a market anomaly—it is consistent with similar homes on Alfred Avenue and in William Whyte. The low value means lower property taxes, but also signals limited equity growth without substantial improvements.

2. Is the lot big enough to add on to the house?
At 3,268 square feet, the lot is larger than most on the street and slightly above the community average. Whether an addition is feasible depends on local zoning, setbacks, and the condition of the existing foundation. Given the small footprint of the house, there is likely room for expansion, but a consultation with the city’s planning department would be necessary before making plans.

3. How does the age of the home affect insurance and maintenance?
Built in 1905, this house is among the oldest 2% of homes in Winnipeg. Older homes often come with outdated electrical, plumbing, and insulation. Insurance may be higher, and some providers may require an inspection before offering a policy. Maintenance is not optional—it is ongoing. Buyers should budget for potential updates to the roof, windows, and mechanical systems.

4. What is the William Whyte neighbourhood like?
William Whyte is a central, older neighbourhood with a mix of residential and commercial. It is more affordable than many Winnipeg neighbourhoods, with a median home value well below the city average. The area has seen some investment and redevelopment, but it is not a high-demand market. Proximity to downtown and major routes is a practical advantage, but the neighbourhood is still considered entry-level in terms of price and perception.

5. Would this property make a good rental investment?
It could, depending on your target renter and your expectations for cash flow. The low purchase price means a smaller mortgage and lower monthly costs. But the age of the house increases the risk of maintenance and vacancy expenses. Rents in William Whyte are modest, so the return will likely come from long-term appreciation of the land and gradual improvements, not immediate high rental income. A thorough expense projection is recommended before committing.