854 Redwood Avenue

Property Overview

This one-and-a-half storey home on Redwood Avenue, built in 1913, presents a practical opportunity in Winnipeg's Burrows Central neighbourhood. Its key appeal lies in its renovated basement and its position as a relatively average property within its immediate area, which can mean lower entry costs and less competition. The 3,317 sqft lot is typical for the street, offering standard outdoor space for the location.

The home would suit first-time buyers or investors looking for a straightforward, no-frills property in a central neighbourhood. Its assessed value is modest, especially when compared city-wide, suggesting a potentially manageable tax burden. The recent renovation of the basement adds functional living space to the 915 sqft main footprint, which is a significant practical upgrade for a home of this era. A thoughtful perspective is that a property ranking "around average" on its own street across multiple metrics can indicate stability and predictability, avoiding the premium often attached to standout homes while still offering core functionality.

Frequently Asked Questions

What does "around average for the street" actually mean for a buyer?
It generally means the property's key features—like lot size, living area, and assessed value—are in line with most of its immediate neighbours. This can be an advantage, as it suggests the home is unlikely to be over- or under-priced compared to nearby sales, providing a clearer benchmark for value.

Is the 1913 year of build a concern?
While the home is over a century old, its year of build is typical for the area. The more relevant consideration is the condition of major systems (roof, wiring, plumbing) and the quality of updates, like the basement renovation. A thorough inspection is always advised.

The assessed value seems very low. Does that reflect the sale price?
Assessed value for tax purposes and market sale price are different. The last recorded sale was in 2016 for $11,200, but current market conditions will determine today's price. The low assessment, however, typically correlates with lower annual property taxes.

There is no garage. What are the parking options?
The listing indicates no garage. Buyers should verify on-street parking regulations or the potential to add a driveway or parking pad, subject to local bylaws.

How does the renovated basement affect the living space?
It adds functional space to the home's 915 sqft main floor area. It's important to confirm the nature of the renovation (e.g., finished living space, proper ceilings, moisture control) and whether it required permits, as this impacts both comfort and value.