Property Overview: 763 Redwood Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1911, presents a practical opportunity in the Inkster-Faraday neighbourhood. Its key appeal lies in its efficient use of space, offering 1,230 sqft of living area—which is notably above average for both its immediate street and local area—on a modest 2,284 sqft lot. The home features a detached garage and an unrenovated basement, presenting a classic, no-frills canvas.
The property’s standout characteristic is its value positioning. With an assessed value significantly below city averages, it represents an accessible entry point into the market. This isn’t a luxury offering, but a grounded, functional property. It would suit a first-time buyer comfortable with a home that has character and may require updates, or an investor looking for a straightforward rental property with a lower initial outlay. A thoughtful perspective is that its smaller lot and efficient floor plan could mean lower maintenance costs and utility expenses, appealing to those seeking simplicity and lower ongoing overhead.
Section 2: Frequently Asked Questions
1. What does the assessed value tell me about the property taxes?
A lower assessed value typically correlates with lower municipal property taxes, which is a key ongoing cost savings for the owner.
2. The basement is noted as "not renovated." What should I expect?
This indicates the basement is in original or functional condition, likely lacking modern finishes. It provides usable space for storage or utilities, but any finished living area would be a future project for the buyer.
3. How does the living area compare to nearby homes?
At 1,230 sqft, the living space is larger than many comparable homes on Redwood Avenue and in the wider Inkster-Faraday area, where averages are around 1,005-1,025 sqft.
4. The home was built in 1911. Are there common concerns with houses of this age?
Prospective buyers should plan for a thorough inspection. While these homes are often solidly built, attention should be paid to the condition of foundational elements, plumbing, electrical systems (which may have been updated over time), and insulation.
5. The sold price history shows a range. How can I get the exact figure?
The exact sold price from previous transactions is available upon request from the listing service. You can provide your email to receive the precise figure, as they manually provide this data to ensure accuracy.