Property Overview & Key Characteristics
This one-and-a-half storey home at 825 Redwood Avenue, built in 1942, presents a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Its primary appeal lies in its value and potential, rather than turn-key condition. With 800 square feet of living space and an unrenovated basement, the house is a compact, no-frills canvas. The lot size of 2,283 sq ft is modest, particularly when compared to the city-wide average, but is typical for the local area.
The home's assessed value is notably low, positioning it well below the Winnipeg average. This creates a clear entry point for first-time buyers, investors, or handy individuals looking for a foothold in the market without a large initial investment. Its recent sale history suggests it's a property that trades on its land and structural value. The appeal here is pragmatic: it suits a buyer comfortable with a project, seeking minimal property taxes, or prioritizing location and lot ownership over immediate move-in readiness. It's a property that asks for vision, making it less suitable for those seeking a finished home without renovation plans.
Frequently Asked Questions
1. What does "unrenovated basement" typically imply?
It usually means the basement is in its original or rough state. Expect foundational finishes, older mechanical systems (like the furnace or plumbing), and a space that would require significant investment to finish or modernize.
2. With no garage, what are the parking options?
The property likely relies on on-street parking, which is common for homes of this era in the area. Buyers should verify local parking regulations and consider the practicality of this, especially during Winnipeg winters.
3. How significant is the below-average lot size?
While the lot is smaller than the Winnipeg average, it is much more in line with neighbouring properties on Redwood Avenue. This suggests the lot is efficiently sized for the neighbourhood context, potentially keeping yard maintenance manageable.
4. The assessed value is very low compared to the city average. What does this mean?
A low assessed value generally translates to lower annual property taxes, which is a financial positive. It reflects the home's modest size, condition, and market value relative to the broader city, not necessarily the purchase price.
5. What is the likely scope of work needed?
Given the age, unrenovated basement, and comparative data, buyers should budget for updates to essential systems (roof, wiring, plumbing, insulation) and interior finishes. The home represents a solid foundation for a gradual, sweat-equity renovation.