Property Overview: 1033 Redwood Avenue, Winnipeg
Key Characteristics & Buyer Appeal
This one-and-a-half storey home, built in 1926, presents a solid opportunity in Winnipeg's Burrows Central neighbourhood. Its primary appeal lies in offering above-average space and value within its immediate context. With 1,150 sqft of living area, the home is notably more spacious than many neighbouring properties. It sits on a standard city lot of 3,425 sqft. A key feature is the renovated basement, adding functional living space, and the property includes a detached garage.
The home’s value is perspective-dependent. When compared just to its street and neighbourhood, it ranks above average in both living area and assessed value, suggesting it's a relatively substantial property for the area. However, citywide comparisons tell a different story, placing it below average in land size and year built. This dynamic makes it an ideal fit for buyers who prioritize getting more house for their money within a specific community, rather than competing in city-wide markets. It would suit a practical, value-conscious buyer—perhaps a first-time homeowner or an investor—who sees the advantage in a renovated, character home that stands out on its block. The recent sale in late 2023 indicates a fresh opportunity for the next owner.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes with the city.
2. How does the sale price relate to the assessed value?
The home sold for $26,500 in December 2023, which is significantly higher than its $220,000 assessed value. This large discrepancy strongly suggests the assessment value shown is not the municipal property assessment but likely a data error. Prospective buyers should consult the current municipal assessment for an accurate figure.
3. What is the significance of the "above average" rankings for the street?
These rankings indicate that, compared to other homes on Redwood Avenue, this property offers more living space and a higher value assessment. This can be a marker of a well-maintained or updated home in its micro-area.
4. What are the considerations with a home built in 1926?
While the basement has been renovated, a home of this age may have older building materials and systems. A thorough inspection is essential to understand the condition of the foundation, wiring, plumbing, and roof.
5. What is the neighbourhood like?
Located in Burrows Central, the area features homes of a similar vintage. The listing shows several nearby properties on the same block, indicating a mature, established streetscape. Buyers should visit at different times to gauge noise, traffic, and overall community feel.