700 Alfred Avenue – Property Summary

Key Characteristics & Buyer Profile

This home offers 1,240 square feet of living space on a 3,004-square-foot lot, built in 1929 with an assessed value of $162,000. It sits in the William Whyte neighbourhood and was built during the same era as most homes on Alfred Avenue—meaning you get solid pre-war construction, likely with plaster walls, deeper baseboards, and a layout that predates the open-concept trend.

Where this property finds its real footing is value. While it ranks in the bottom tier city-wide for assessed value (top 96% cheapest), it sits close to the street and neighbourhood averages. In plain terms: you’re getting a home priced roughly in line with others on the same block, but well below typical Winnipeg housing costs. The living area is above average for the street (top 25%) and slightly above average for the neighbourhood, so you’re not sacrificing space for affordability.

The lot is modest—average for the area, smaller city-wide—so don’t expect a sprawling yard. But for someone who wants a manageable outdoor space in a mature, established part of the city, it fits.

Who it suits: First-time buyers looking for an entry point into a stable inner-city neighbourhood. Also investors or renovators who recognize that a 1929 home with average land and above-average interior space has reasonable floorplan flexibility. It’s less suited to someone seeking turnkey finishes or a large modern footprint; this is a home that rewards a buyer willing to work with its bones.

Five Frequently Asked Questions

1. How does the assessed value compare to the actual market price?
   The assessed value of $162,000 is just a baseline—not a direct market price. It’s around average for the street and slightly above the neighbourhood average. City-wide, it’s one of the most affordable homes. The actual sale price depends on condition, competition, and any recent upgrades.

2. Is a 1929 home likely to have major issues?
   A home built in 1929 typically means old wiring (cloth or knob-and-tube), cast iron plumbing, and possible foundation settling. It’s not a dealbreaker—many homes from this era have been updated—but you should budget for an inspection focused on electrical and drainage. The upside is mature framing and often better-quality lumber than modern builds.

3. What’s the neighbourhood like for resale?
   William Whyte is an older inner-city area with a mix of long-term residents and newer buyers. Homes here tend to turn over steadily but not quickly. If you improve condition or square footage, you can outperform the neighbourhood average. The land is small by city standards, so appreciation will come more from the house itself than the lot.

4. How much space does the 1,240 sqft actually include?
   Likely a main floor and second storey with three bedrooms and one bathroom, plus a full basement. Because it’s a 1929 layout, expect smaller closets and narrower hallways than modern homes. The basement is probably unfinished or partially finished—good for storage or a future renovation.

5. Is the lot size a limitation?
   At 3,004 sqft, the lot is typical for the street and neighbourhood, but small city-wide. You won’t have room for a large garage or extensive landscaping. It works well for a garden, a small shed, or parking for one car. If you want a big yard or expansion potential, this isn’t it. If you prefer low-maintenance outdoor space, it’s a good fit.