718 Alfred Avenue – Property Summary

Key Characteristics & Buyer Fit

This 1,270 sqft home on Alfred Avenue in the William Whyte neighbourhood has a notably strong assessment value relative to both its street and community. Its assessed value of $231,000 ranks in the top 16% on the street and top 9% in the community, where the averages are $164,000 and $149,000 respectively. This suggests a property that holds or has gained value well above nearby norms.

The living area is solidly above the street average of 1,084 sqft (top 23%) and near the community average. The land size of 3,004 sqft is close to both street and community norms, though well below the citywide average of 6,570 sqft, which reflects Winnipeg’s mix of larger suburban lots. The home was built in 1907, older than most on its street and in the city, and ranks in the oldest 21% locally.

What makes this property stand out is the disconnect between its high assessed value and its modest size and age. Most homes in the area with similar stats don’t carry this kind of valuation. That could point to significant interior updates, a well-maintained structure, or a desirable location within the street. It’s not a “move-in ready” story you’d see in a newer build, but rather a case where value has been built into an older home.

Who it suits: Buyers comfortable with an older character home who see value in a property that is already appraised higher than its neighbours. It would likely appeal to someone looking for above-average square footage on the street, a manageable lot, and a home that may have been renovated or well cared for. It’s less suited to someone seeking a modern build or a large yard.

Frequently Asked Questions

1. How does this home’s size compare to others nearby?
It’s larger than most homes on Alfred Avenue, where the average living area is 1,084 sqft. Within the broader William Whyte neighbourhood, it’s close to the average of 1,158 sqft. So it’s a bit above the local norm, but not unusually large.

2. Why is the assessed value so much higher than the neighbourhood average?
The $231,000 assessment is well above both the street and community averages ($164k and $149k). Possible reasons include major renovations, an updated interior, or a location on a more desirable stretch of the street. The data doesn’t specify the cause, but it suggests the property is a relative standout in terms of market value.

3. How old is this property, and is that a concern?
Built in 1907, it’s older than most homes on the street (average 1929) and significantly older than the citywide average (1966). Age alone isn’t a drawback, but buyers should expect the maintenance typical of a century-old home—wiring, plumbing, foundation, and insulation may have been updated or may need attention.

4. Is the lot size a limitation?
At 3,004 sqft, it’s around average for the street and neighbourhood, but well below the citywide average of 6,570 sqft. It’s a compact city lot—suitable for a garden or small outdoor space, but not for large-scale landscaping, additions, or parking multiple vehicles.

5. How does this home rank citywide?
Within Winnipeg, it sits in the 44th percentile for living area (slightly below the city average of 1,342 sqft) and in the 87th percentile for assessed value (well below the city average of $390k). In other words, it’s a moderately sized home that’s relatively affordable compared to the city as a whole, but expensive for its own neighbourhood.