Property Overview: 845 Redwood Avenue
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1920, presents a practical opportunity in Winnipeg's Burrows Central neighbourhood. Its key appeal lies in its efficient use of space and its position as a land-value proposition. With a living area of 1,124 sqft, the home is notably more spacious inside than many comparable houses on the same street and in the immediate area, offering comfortable room for a small family or a first-time buyer.
The property’s lot, at 2,283 sqft, is smaller than average for the city but typical for the local area. This translates to lower maintenance demands, a significant consideration for those seeking a manageable yard. It features a detached garage and an unrenovated basement, indicating a home that is functional as-is but holds potential for future customization or storage expansion.
This home would best suit value-conscious buyers, such as first-time homeowners or practical investors, who prioritize living space over land size and see potential in a solid, older structure. Its below-average assessed value and recent sale price suggest an accessible entry point into the market. A thoughtful perspective for the right buyer is viewing the unrenovated basement not as a drawback, but as a blank canvas that allows for tailored improvements without the cost of undoing someone else’s renovations.
Section 2: Frequently Asked Questions
1. How does the lot size impact this property?
The lot is smaller than the Winnipeg average, which is common for the central neighbourhood. This means less outdoor maintenance but also limited space for large additions or extensive landscaping.
2. The home is over 100 years old. What should I consider?
While the structure has proven its durability, a thorough inspection is essential. Focus on the foundation, roof, wiring, and plumbing to understand the condition of these core systems. Its age is typical for the street, where many homes were built in the same era.
3. The assessed value is significantly lower than the last sale price. Why?
Municipal assessed value for tax purposes is not a direct indicator of market value. The sale price reflects what a buyer recently paid in the open market, while the assessment is a mass appraisal formula that often lags behind current market conditions.
4. Is the living space layout modern?
As a classic one-and-a-half storey built in 1920, the layout will likely reflect older design patterns, such as smaller, defined rooms rather than an open-concept plan. The generous living area for the area suggests good room sizes within that traditional footprint.
5. What does the "Below Average" sale price ranking mean?
This indicates the home sold for less than the average sale price of homes in its comparison groups. In this context, it underscores the property's position as a more affordable option within its street, neighbourhood, and the wider city.