Property Overview & Key Characteristics
This one-storey home at 874 Redwood Avenue presents a practical opportunity in Winnipeg's Burrows Central neighbourhood. Built in 1968, it is notably newer than most homes on its street and in the immediate area, which typically date back to the early 1900s. This suggests potentially fewer concerns with aging infrastructure common in century-old properties.
The home's primary appeal lies in its above-average proportions and recent updates. With 1,287 sqft of living space and a renovated basement, it offers more room than many comparable local homes. The lot size of nearly 4,000 sqft is also generous for the neighbourhood, providing valuable outdoor space. A key, less obvious point is its assessed value, which ranks in the top 4% for Burrows Central. This indicates that official valuations recognize a combination of its lot size, living space, and condition as superior to the vast majority of area properties.
This property would suit a first-time buyer or an investor looking for a solid, move-in-ready home with modernized basics in a mature neighbourhood. It’s also a strong fit for someone who values more interior space and a newer build date over being in a newer suburban subdivision.
Frequently Asked Questions
1. How does the 1968 build date compare to nearby homes?
This home is significantly newer than most in the area. Comparable homes on Redwood Avenue average a build year of 1934, making this property over three decades newer, which can be an advantage for major systems like wiring and plumbing.
2. The assessed value seems high for the area. What does that mean?
The assessed value ranks in the top 4% for Burrows Central. This typically reflects a combination of the home's larger lot, above-average living area, and the renovated condition compared to neighbourhood norms, as recognized for municipal tax purposes.
3. Is the living space efficient for a one-storey layout?
At 1,287 sqft, the living area is about 25% larger than the neighbourhood average. This suggests a more spacious floor plan than typical bungalows in the area, further enhanced by the renovated basement.
4. What does the land size offer?
The 3,946 sqft lot is in the top 21% for the neighbourhood. This provides a larger-than-average yard for outdoor activities, gardening, or future additions like a shed or deck, which is a premium in established communities.
5. How does the last sale price relate to the assessed value?
The home sold for $25,200 in June 2020, which was below its current assessed value of $30,600. This is not uncommon, as assessed values for tax purposes and market sale prices can differ based on market conditions at the time of sale and specific property updates.