Property Overview: 1092 Redwood Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home, built in 1947, presents a straightforward opportunity centered on its land and location. The primary asset is the 5,411 sqft lot, which is notably larger than most in the immediate area and ranks within the top 4% on its street. While the 913 sqft living space is modest and typical for the neighbourhood, the property’s above-average lot size offers valuable potential for expansion, gardening, or simply more private outdoor space—a relative rarity in the area.

Its appeal lies in its practicality and positioning. With a historically lower assessed value and a last sale price of $170,000, it represents an accessible entry point into the Burrows Central neighbourhood. The home suits first-time buyers or pragmatic investors looking for a land-positive property where the value is anchored more in the lot than in the existing structure. It’s a property for those comfortable with a home that may require updates, seeing the larger parcel as a long-term advantage over a newer, but more confined, build. A less obvious perspective is that its 1947 build date actually makes it newer than many surrounding homes, offering a slight edge in terms of potential foundational wear and tear compared to nearby century-old properties.

Section 2: Frequently Asked Questions

1. What does the lot size ranking actually mean?
The "Top 4%" ranking for land area means this property’s lot is larger than 96% of comparable lots on Redwood Avenue. In practical terms, you’re getting significantly more yard space than is typical for this specific street.

2. Is the low assessed value a concern?
Not necessarily. The assessed value is for municipal tax purposes and is often lower than market value, especially for older homes that haven’t been recently renovated. It can actually translate to relatively lower property taxes, which is a positive for ongoing costs.

3. What are the implications of having no basement?
This limits storage and potential for adding below-ground living space like a rec room or suite. However, it also eliminates risks and costs associated with basement moisture, flooding, or foundational repairs common in older Winnipeg homes.

4. The home seems smaller than average city-wide. Who is it suited for?
Yes, the living area is below the Winnipeg average. This home is ideally suited for smaller households, first-time buyers, or those who prioritize low maintenance and lower utility costs over ample indoor space. The large lot provides a balance by offering generous outdoor room.

5. How does the 1947 build year compare to the neighbourhood?
It’s above average. Many homes in Burrows Central are older, with averages around 1934. This means the structure, while still requiring due diligence, may have benefited from slightly newer construction techniques and materials than many immediate neighbours.