Property Overview: 908 Redwood Avenue, Winnipeg
Key Characteristics & Appeal
This is a classic one-and-a-half storey home in Burrows Central, built in 1913. It sits on a standard city lot of approximately 3,300 sq ft and offers 1,031 sq ft of living space, which is slightly above average for similar homes in the immediate area. The property includes a detached garage and a basement that is present but not renovated.
Its primary appeal lies in its positioning as a straightforward, no-frills property in an established neighbourhood. The home represents an entry point into the market or a practical investment opportunity. It suits buyers looking for a land-value proposition with a liveable structure, such as first-time homeowners comfortable with a project, or investors seeking a rental property with a manageable footprint. A thoughtful perspective is that, while older, the home’s lot size and living area are competitive within its local context—it’s a property that fits the mould of its street and area, offering stability rather than standing out. Its very low assessed value signals a potentially low property tax burden, which is a key, less obvious advantage for budget-conscious owners.
Frequently Asked Questions
1. What is the significance of the assessed value being so much lower than city-wide averages?
The assessed value is for municipal tax purposes and reflects the home’s value relative to similar properties in its market area. A value significantly below the city-wide average is common for older, modest homes in established neighbourhoods and typically results in lower annual property taxes.
2. Is the unrenovated basement a major concern?
The basement is a functional space but requires modernization. Buyers should budget for potential updates and have it inspected for moisture, insulation, and structural integrity common in homes of this era.
3. How does the age of the home (1913) affect maintenance?
A 110+ year-old home will likely have outdated systems (like plumbing or wiring) and require consistent upkeep. While it has stood the test of time, a thorough inspection is crucial to understand the condition of the foundation, roof, and original materials.
4. The sale history shows significant price variation. What does this indicate?
The fluctuating sale prices suggest this property is often purchased for its investment or land value rather than its finished condition. It may appeal to buyers looking to add value through renovation or hold as a long-term rental.
5. How does this home compare to the nearby property at 954 Redwood, which is listed as "worth viewing"?
The nearby home at 954 Redwood is a direct comparable, built a year later with nearly identical living area but a higher assessed value. This suggests 954 Redwood may be in a superior state of repair, modernization, or have other features adding value, making it a useful benchmark for viewing.