Property Overview: 888 Redwood Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic, one-storey home in Winnipeg's Burrows Central neighbourhood, built in 1912. Its key characteristic is a balanced, no-frills profile on a standard city lot. The 3,304 sqft lot size is typical for the street and area, offering manageable outdoor space. The living area (739 sqft) is compact, suggesting a efficient, cozy layout. The home has a detached garage and an unrenovated basement, presenting a straightforward canvas.
The appeal lies in its position as an accessible entry point into the market. With a historically lower sale price and assessed value well below the city average, it represents a lower barrier to entry. It suits first-time buyers seeking affordability, or practical investors looking for a rental property with a stable land value. A less obvious perspective is for a buyer who values a "blank slate" — the unrenovated basement and classic structure allow for customization without the premium of a recently flipped home. It’s a property where value is derived more from the land and location potential than from current finishes or size.
Section 2: Frequently Asked Questions
1. Is the basement finished or usable for living space?
No, the basement is noted as being unrenovated. It provides storage and utility space but would require significant investment to be converted into finished living areas.
2. How does the property compare to others in the area?
The data shows it is very typical for its immediate street and the Burrows Central area in terms of lot size, age, and value. It is smaller in living area than many area homes, but its assessed value is aligned with neighbourhood averages.
3. What is the significance of the 2016 sale price?
The home sold for $140,000 in 2016. This provides a historical benchmark, but the current market value would be determined by recent comparable sales, condition, and market trends.
4. Are the property taxes likely to be high?
Given its assessed value is significantly below the Winnipeg average, the municipal property taxes should be comparatively lower, which is a key ongoing cost advantage.
5. What are the immediate considerations for a new owner?
As a 114-year-old home, proactive maintenance and potential updates to major systems (like plumbing, wiring, or heating) should be budgeted for. The unrenovated state also means cosmetic updates are likely desired for modern living.