Property Summary: 1008 Redwood Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This is a classic, one-storey home built in 1910 on a standard city lot in the Burrows Central neighbourhood. Its key characteristic is its modest scale, with a living area of approximately 602 sq. ft. and an unrenovated basement. The home includes a detached garage.

The primary appeal lies in its value as a land opportunity or a foundational project. The lot size is typical for the street but smaller than the city average, positioning it as a manageable entry point. With an assessed value significantly below both neighbourhood and city averages, it presents a lower financial barrier to entry. This property would best suit a practical, value-oriented buyer—such as a first-time investor looking for a rental opportunity, a homeowner with renovation skills seeking a "blank canvas," or someone prioritizing location and lot ownership over move-in-ready condition. A less obvious perspective is that its very compact size and unrenovated state could be appealing for someone seeking to minimize ongoing utility costs and property taxes, while still owning a detached home with its own land.

Section 2: Frequently Asked Questions

1. What does "below average" for living area actually mean?
At 602 sq. ft., the home's living space is notably compact, ranking in the bottom 10% compared to similar homes on its street and in Winnipeg overall. This indicates a truly modest footprint, emphasizing its potential as a cozy starter home or a candidate for a thoughtful expansion.

2. Is the low assessed value a positive sign?
It can be, for the right buyer. The assessed value is well below area averages, which typically correlates with lower property taxes. This reflects the home's age, condition, and size. It suggests the value is primarily in the land and the structure's potential, not in current finishes or amenities.

3. Who might this property not suit?
It would likely not suit buyers seeking a turn-key home, those needing multiple bedrooms or ample living space, or anyone unable to handle gradual updates or a full renovation project, given the noted unrenovated basement.

4. The home sold in 2019. What can that price tell us?
The 2019 sale price of $11,700K was below average for the area even then, consistent with its long-standing position as a value-priced property. This history reinforces its role as an entry-level option in the market.

5. How should I interpret the lot size rankings?
While the lot is smaller than the Winnipeg average, it is much more in line with the immediate neighbourhood and street. This means the property offers a standard outdoor space for the area, not an unusually large or subdividable parcel. Its appeal is as a complete, standard lot in an established community.