Property Summary: 964 Redwood Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1941, presents a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Its key characteristics are defined by modest, workable dimensions: an 820 sqft living area, a full but unrenovated basement, and a detached garage on a standard 3,278 sqft lot. The home’s appeal lies in its positioning as an affordable entry point into the market, recently selling for $20,500. The lot size is notably larger than the city-wide average for comparable homes, offering relatively more outdoor space for the area.
This property would best suit a hands-on buyer looking for a foundational investment. It’s a candidate for a live-in renovation project, a rental property investor seeking a low acquisition cost, or someone valuing a larger-than-average yard in the neighbourhood over move-in-ready finishes. A less obvious perspective is that its very modest assessed value ($17,200) and sale price could translate to lower property tax obligations, which is a significant long-term consideration. Its "around average" rankings within its immediate area for most metrics suggest it is a typical, no-surprises property for Burrows Central, offering stability rather than standout features.
Section 2: Frequently Asked Questions
1. What does "one-and-a-half storey" typically mean for a home of this era?
It usually indicates a home where the second level has sloped ceilings (following the roof line) and potentially smaller rooms, often originally designed as bedrooms. This differs from a full two-storey layout.
2. The assessed value is much lower than the sale price. Is this a concern?
Not necessarily. Municipal assessed values for tax purposes often lag behind market sale prices. The sale price is the current market value. The lower assessment may result in proportionally lower property taxes.
3. How does the lot size compare to others?
The lot is a key feature. At 3,278 sqft, it is larger than most comparable homes across Winnipeg and is about average for the Burrows Central area, which could be a advantage for outdoor space or future expansion relative to other city properties.
4. What is implied by the "unrenovated basement"?
This typically means the basement is in original or functional condition but lacks modern finishes. It may be suited for laundry and storage, and any potential for living space would require a significant investment.
5. Who might the neighbouring comparable properties (like 954 or 945 Redwood) be relevant for?
They provide context on the street’s value range. Seeing a similar home with more living space or a higher assessed value nearby can help gauge the potential upside of investing in renovations at 964 Redwood Avenue.