Property Summary: 792 Redwood Avenue
Key Characteristics and Buyer Profile
This is a 960 sqft home built in 1910, sitting on a 3,337 sqft lot in Winnipeg’s William Whyte neighbourhood. Its assessed value is $121,000. The property performs close to the street and neighbourhood averages for living area and land size, but both its year built and assessed value fall notably below citywide medians. The home is older than most in the city (top 94% by age) and is priced well under the citywide average of $390,100, ranking in the bottom 1% of assessed value across Winnipeg.
The appeal lies in its relative affordability compared to citywide benchmarks and its lot size, which is slightly above the neighbourhood average. For a buyer, this is not a flashy or newly updated property—it’s a functional, older home on a decent-sized lot in a modest, established area. It would suit first-time buyers with a realistic budget, investors looking for a lower-cost entry into the neighbourhood, or someone willing to take on a renovation project in an area where land values remain grounded. The land-to-building ratio (roughly 3.5:1) is worth noting—this could offer future redevelopment potential or simply more outdoor space than many newer infill lots.
Frequently Asked Questions
1. How does this home compare to others on the same street?
On Redwood Avenue, the home is about average for living area (960 sqft vs. the street average of 1,005 sqft). Its lot is also fairly typical (3,337 sqft vs. 3,449). The assessed value is below average for the street ($121k vs. $174k), which partly reflects its older age—it’s one of the older homes on the block, built in 1910 versus a street average of 1934.
2. Is the assessed value likely to change?
Assessed value reflects current market conditions for similar homes. Given that this property is ranked near the bottom citywide (top 99% by low value), any significant increase would depend on local market shifts or substantial improvements. The value is not an appraisal, but it does anchor expectations for property taxes and entry point pricing.
3. What does “top 78%” for living area mean citywide?
It means that when compared to nearly 195,000 other residential properties in Winnipeg, this home’s living area is smaller than about 78% of them. In other words, it’s a compact home in the broader city context, though typical for its immediate street and neighbourhood.
4. Could this property be a good candidate for renovation?
Possibly, but with caution. The 1910 build means potential challenges with outdated systems, foundations, and insulation. What works in its favour is the land area—3,337 sqft is above the neighbourhood average and gives room for an addition, a garage, or a laneway suite if zoning allows. The lower assessed value also means the tax base is modest, which can be an advantage during a renovation period.
5. How reliable are the rankings and averages shown?
The data is drawn from municipal assessment records and compares this property to comparable homes within the same city-defined categories. Rankings are based on specific metrics (living area, land area, year built, assessed value) and use a median benchmark. They give a useful relative picture but don’t account for interior condition, recent upgrades, or specific market demand—so they’re a starting point, not a final verdict.