Property Overview: 1042 Redwood Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This is a classic one-storey home on an exceptionally large lot in Winnipeg's Burrows Central neighbourhood. Built in 1915, the house itself is modest at 714 sq ft of living space and features an unrenovated basement and a detached garage. The true standout feature is the land: at over 8,100 sq ft, the lot size is in the top 1% for both the street and the wider neighbourhood, offering rare potential for expansion, gardening, or outdoor living.

Its appeal lies in its value proposition as a land play or a foundational project. The home last sold in late 2021 for a price very close to its current assessed value, which is significantly below the citywide average, suggesting an accessible entry point. This property would best suit a practical buyer with a vision—perhaps a first-time investor, a homeowner looking for a large yard, or a renovator who sees the underlying value in the substantial lot rather than the existing structure. It’s a property where the future possibilities, dictated by the land size, are a greater draw than the current condition of the home.

Section 2: Frequently Asked Questions

1. What does "unrenovated basement" typically imply?
It generally means the basement is in original or functional condition, likely with concrete walls and floors, and used for utilities and storage. It has not been modernized into a finished living space.

2. The assessed value seems very low compared to the city average. Why?
The assessed value reflects the property's current state and market value relative to its immediate area. The modest size and age of the home, combined with its neighbourhood context, result in a lower assessment than newer or larger homes citywide. The sale history confirms the market supports this valuation.

3. Is the large lot size a benefit for future building or expansion?
Potentially, yes. A lot of this size provides flexibility that standard lots do not. Any expansion or new construction would be subject to local zoning bylaws, setback requirements, and permitting, but the physical space is a significant advantage.

4. How does the age of the home (1915) affect things?
It adds character but also means prospective buyers should budget for updates to older mechanical systems, windows, and insulation. It’s around the average age for homes on this street, so it fits the area's established feel.

5. Who are the typical buyers in this area?
Burrows Central attracts a mix of long-term residents, value-seeking first-time homeowners, and practical investors. The area offers more affordable access to homeownership with larger lot sizes than many newer neighbourhoods, often appealing to those prioritizing space and potential over turn-key condition.