Property Overview: 843 Redwood Avenue
Key Characteristics & Buyer Profile
This is a compact, century-old home (built 1910) on a standard city lot in Burrows Central. Its key characteristic is its modest scale, with a 640 sqft living area that is notably smaller than most homes on the street, in the neighbourhood, and across Winnipeg. The property includes a basement, but it is not renovated, and there is no garage or pool.
The primary appeal lies in its position as an accessible entry point into the Winnipeg market. The lot, while below average in size for the area, offers potential for outdoor space or future expansion. Its very low assessed value and past sale prices indicate a lower barrier to entry, which could appeal to investors, first-time buyers comfortable with a renovation project, or those seeking a minimal footprint. It suits a pragmatic buyer who views the home as a land-value proposition or a straightforward canvas for updates, rather than someone seeking move-in-ready finishes or ample square footage. A thoughtful perspective is that its small size and unrenovated state present a clear, manageable scope for a DIY enthusiast, avoiding the complexities and costs of a larger, partially updated home.
Frequently Asked Questions
1. Why is the assessed value so much lower than the past sale prices?
Assessed values for property tax purposes often lag behind market sale prices and are calculated using different formulas. The sale prices from 2020 and 2021 are likely more reflective of the home's market value.
2. What does "One & 1/2 Storey" building type mean?
This typically describes a home with a main floor and a second floor under a sloped roof (often with dormers), where the upstairs space may have lower ceiling heights. Given the small total living area, the layout is likely compact.
3. How does the lot size compare to nearby properties?
At 2,283 sqft, the lot is below the average for Burrows Central (approx. 3,491 sqft). This means the yard space is more limited than many in the area, but it is a standard city lot width and depth.
4. Is the basement finished or usable for storage/utilities?
The listing specifies the basement exists but is "not renovated." It is likely a functional, unfinished space housing the home's mechanical systems and offering basic storage.
5. What is the context of the provided rankings (e.g., "Top 86%")?
These rankings compare this property to others. For example, "Top 86%" for land area means the lot is larger than only 86% of comparable lots on Redwood Avenue, placing it in the smaller tier. Consistently low rankings across metrics confirm this is a smaller, older, and lower-valued property relative to its peers.