Property Overview: 818 Redwood Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1925, presents a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Its primary appeal lies in its position as a modest, no-frills property with a solid lot size. The 3,326 sqft lot is typical for the street and area, offering standard outdoor space for the community. With 815 sqft of living space, the house itself is compact, ranking below the citywide average but comparable to many homes in the immediate vicinity.
The property suits practical buyers looking for an entry point into homeownership or a long-term hold. Its very low assessed value indicates it is likely a fixer-upper or a teardown candidate, appealing to investors, renovators looking for a blank canvas, or buyers prioritizing land value over the existing structure. The unrenovated basement and lack of a garage underscore its as-is, value-oriented nature. A thoughtful perspective is that its "average" metrics within the local context mean it isn't an outlier; it's a representative property for the area, which can simplify valuation and comparison. Its sale history shows it changed hands in 2016, suggesting it may have been held as a longer-term investment.
Section 2: Frequently Asked Questions
1. What is the true condition of the home?
The listing explicitly notes an unrenovated basement and no garage. Given the age and low assessed value, buyers should budget for significant updates or consider the potential cost of a full rebuild.
2. How does the lot size compare?
At 3,326 sqft, the lot is very close to the average for both Redwood Avenue and the Burrows Central area, but is significantly smaller than the Winnipeg citywide average. It is a standard-sized lot for this specific neighbourhood.
3. Who might this property be best for?
It is best suited for investors, hands-on renovators, or buyers whose primary goal is securing land in the area. It is less suited for someone seeking a move-in-ready home.
4. What does the assessed value indicate?
The assessed value of $15,400 is far below the city average, typically reflecting the land value more than the structure. This often correlates with properties requiring major improvement.
5. Are comparable homes nearby?
Yes. The listing provides examples of nearby homes with similar assessed values, such as 861 Redwood Avenue and 857 Boyd Avenue, which can serve as useful benchmarks for value in the local market.