722 Alfred Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1962-built home with 850 square feet of living space on a 3,004-square-foot lot. Its assessed value sits at $177,000. The property’s main appeal is value within an older, established neighbourhood. The home is newer than most of its neighbours—ranking in the top 12% on the street for year built—but the living area is below average at every level: street, neighbourhood, and citywide. The assessed value is slightly above the street and neighbourhood averages, which suggests the home’s age and condition add some equity relative to its surroundings, but it remains far below citywide norms.

The lot size is close to average for the area, but well below the citywide median. This is not a property for someone looking for a large yard or expansive living space. Where it makes sense is for a buyer who wants a modest, move-in-ready home in a working-class neighbourhood without paying a premium for newer construction. The home’s era (1960s) means it likely has simpler systems and fewer of the maintenance surprises that come with pre-war housing, but it won’t have the open-plan layouts or square footage that families with children or investors looking for basement suites often prioritize. It would suit a first-time buyer, a downsizer, or someone looking for a low-maintenance property in a central neighbourhood with character, not cachet.

Five FAQs

1. How does this home compare to others on the street?
It’s newer than most—built in 1962 versus an average of 1929 on Alfred Avenue—and its assessed value ($177K) is slightly above the street average of $164K. But it’s smaller than typical: 850 sqft versus 1,084 sqft. You’re paying for a home that’s in better structural shape than many neighbours but with less interior room.

2. Is the assessed value accurate for what’s there?
Given that it ranks in the top 27% of the neighbourhood (William Whyte) by value, the assessment reflects a home that’s above-average condition for the area. But keep in mind assessed value isn’t the same as market value. In a lower-priced area, assessments often lag behind sale prices or can be conservative. A local realtor or recent sale comparisons would give a clearer picture.

3. Why is the lot size so much smaller than the city average?
Most homes in Winnipeg, especially newer subdivisions, sit on lots closer to 6,500 sqft. This neighbourhood, William Whyte, was developed earlier, with smaller lots typical of inner-city infill. The 3,004-sqft lot is standard for the street and area. It means less yard maintenance but also less outdoor space for expansion, gardening, or parking.

4. Who typically buys homes in this area?
First-time buyers who want to avoid suburban commute times, investors looking for affordable rental properties, and older residents who’ve lived in the neighbourhood for decades. It’s not a neighborhood that attracts families seeking top-ranked schools or new amenities. The trade-off is proximity to downtown, older housing stock with character, and lower entry prices.

5. What should I look for in a viewing, given the age?
Focus on the mechanical systems—heating, electrical, and plumbing. A 1962 build is old enough that original systems may be near end-of-life, but not so old that knob-and-tube wiring or lead pipes are likely. Check the foundation and roof, as those are the two biggest expense items. Also ask about windows: if they’re original single-pane, you’ll face higher heating bills. The modest living area means storage and layout will be critical—make sure the floor plan works for how you actually live.