48 Alloway Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1922-built home with 1,428 sq. ft. of living space and a 3,198 sq. ft. lot, located on Alloway Avenue in the Wolseley neighbourhood of Winnipeg. Its assessed value is $236,000.

The property sits below-average in value relative to its street, neighbourhood, and city benchmarks. The living area is also below the street average but nearly matches the neighbourhood norm and exceeds the city-wide average for comparable homes. The lot size is typical for Alloway and Wolseley but well under the city-wide median for comparable properties. The year built is older than the city average but newer than most homes on its street and in the area—meaning it’s one of the newer older homes in an established pre-war pocket.

This property suits buyers who are drawn to the character and walkability of Wolseley but are working with a tighter budget than the neighbourhood typically demands. It may appeal to someone willing to invest in cosmetic updates or deferred maintenance in exchange for a lower entry price in a sought-after area. It’s less suited for buyers prioritizing modern finishes, generous lot size, or turnkey condition. The relatively high ranking for age among older homes (Top 21% in the neighbourhood) suggests the bones may be in better shape than many of its immediately adjacent neighbours, which is a practical advantage often overlooked.

Frequently Asked Questions

1. Why is the assessed value so much lower than the neighbourhood average?

The assessed value places this property in the bottom 5% of Wolseley homes in its category. This typically reflects a combination of smaller living area, modest lot size, and possibly fewer updates compared to nearby properties. It does not necessarily indicate structural issues—just that the home’s market position is more affordable relative to its immediate surroundings.

2. How does the living area compare to other homes in the area?

At 1,428 sq. ft., the living area is about 31% smaller than the Alloway Avenue average (2,067 sq. ft.) but only 12% below the Wolseley average (1,622 sq. ft.). City-wide, it actually exceeds the comparable-home average by about 6%. In practical terms, it’s a compact home by street standards, but fairly typical for the broader neighbourhood.

3. Is a 1922 home likely to have outdated systems?

Not necessarily. The “year built” data shows this home is newer than most on Alloway (where the average is 1916) and newer than about 79% of comparable homes in Wolseley. While age always warrants a careful inspection, this property is relatively young for its street and area, which may mean it has benefitted from better initial construction standards or more recent upgrades than its older neighbours.

4. Why is the lot size considered “below average” city-wide but “average” locally?

The city-wide average for comparable homes is 6,570 sq. ft., which is more than double this property’s 3,198 sq. ft. lot. However, within Wolseley and on Alloway specifically, lots in this size range are standard. This is a common pattern in older inner-city neighbourhoods, where dense, walkable streets were built on smaller parcels than postwar suburbs.

5. What kind of inspection should I prioritize given the property’s characteristics?

Given the home’s age and the value gap in the neighbourhood, focus on the roof, foundation, and mechanical systems (furnace, electrical panel, plumbing). Also pay attention to windows and insulation—many homes from this era were built with single-pane glass and minimal wall insulation. A sewer scope is advisable, as older neighbourhoods with established trees often have root intrusion issues.