Property Overview: 1079 Redwood Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-storey home on a generously sized lot in the Burrows Central neighbourhood. Built in 1947, its primary appeal lies in the land itself—at over 4,200 sq ft, the lot is significantly larger than most in the immediate area and offers substantial potential for expansion, gardening, or outdoor living. The home itself is compact at 700 sq ft of living space, presenting it as a true starter home, a downsizing opportunity, or a strategic investment property.
Its appeal is grounded in value and possibility. With a recent sale price and assessed value well below the Winnipeg city average, it represents an accessible entry point into the market. The combination of a lower purchase price and a large lot is its defining feature. This property would best suit a hands-on buyer looking for a footprint in a established neighbourhood, whether that’s a first-time homeowner comfortable with a cozy layout, an investor eyeing future development potential, or someone seeking a manageable property with ample outdoor space.
A less obvious perspective is that a home of this vintage on a large lot may offer simpler, more affordable renovation possibilities compared to a newer home on a tight plot, allowing an owner to gradually shape the property to their needs.
Section 2: Frequently Asked Questions
1. Is the house livable as-is, or is it a tear-down?
The home has been occupied and sold as a livable property in recent years. Its condition should be verified by a professional inspection, but it is not presented as a derelict structure. The large lot does, however, provide the option for eventual replacement or a major addition.
2. What does the "Top %" ranking for the lot size mean?
The data shows the lot is in the "Top 23%" on its street and "Top 18%" in Burrows Central. This means over 75% of comparable local properties have smaller lots. It highlights that this parcel is notably larger than the neighbourhood norm.
3. Why is the assessed value so much lower than the recent sale price?
Municipal assessed value for tax purposes is not the same as market value. It is based on a mass appraisal system at a fixed point in time and often lags behind rapid market changes. The 2021 sale price of $190k is a clearer indicator of its recent market value.
4. What is the neighbourhood like?
Burrows Central is a long-established, core neighbourhood. It typically offers more affordable housing, proximity to central amenities, and mature streetscapes. Buyers should explore the area personally to gauge its fit for their lifestyle.
5. Are there any major red flags in the data?
The living space is notably small, which confirms the home's status as a basic bungalow. The year built (1947) suggests potential for older mechanical systems (like plumbing or wiring) that may need attention or updating. A thorough inspection is essential.