Property Overview: 1143 Redwood Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, post-war one-storey home on a generously sized lot in the Burrows Central neighbourhood. Built in 1948, its primary appeal lies in the land itself—at nearly 4,000 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 is modest, with 600 sq ft of living space, and features a detached garage. It recently sold for $150,000, which is aligned with average prices on its street but represents a notable value compared to broader city benchmarks.
This property would best suit a practical buyer looking for an entry point into homeownership with a focus on land value over immediate move-in condition. It’s ideal for an investor, a DIY enthusiast willing to renovate or expand, or someone seeking a lower-cost property with the flexibility that a larger lot provides. Its above-average lot size for the area is a standout feature, offering a relative rarity in an older neighbourhood: space to grow.
Frequently Asked Questions
1. Is this a teardown property?
While the living area is small and the home is older, it was recently sold and is likely habitable. Its true value is in the land, making it an excellent candidate for a future major renovation or expansion. The large lot makes such projects more feasible than on a standard-sized parcel.
2. How does the lot size compare to nearby properties?
The lot is 3,997 sq ft, which places it in the top 27% for size on Redwood Avenue and the top 21% within Burrows Central. This means it’s notably larger than many of its immediate neighbours, a key advantage.
3. Why is the assessed value ($130k) different from the sale price ($150k)?
Municipal assessments for tax purposes often lag behind current market conditions. The sale price reflects what a buyer was willing to pay in the open market, likely factoring in the lot’s potential, which may not be fully captured in the formal assessment.
4. What is the neighbourhood like?
Burrows Central is an established, older Winnipeg neighbourhood. The data shows homes here typically have smaller lots and lower assessed values compared to the city-wide average, suggesting it’s a more affordable, mature community.
5. Are the utility systems and structure sound for a home of this age?
Given the home was built in 1948, a prospective buyer should prioritize inspections for the roof, foundation, wiring, and plumbing. Its age is actually above average for the street, but this necessitates a thorough check of these critical components.