Property Overview: 1116 Redwood Avenue, Winnipeg

Key Characteristics & Appeal

This is a modest, one-and-a-half storey home built in 1947, situated on a notably large lot in the Burrows Central neighbourhood. Its primary appeal lies in the land itself—at 5,399 sqft, the property lot size ranks in the top 5% on its street and top 7% within the local area, offering significant outdoor space that is rare for the location. The living space is compact at 912 sqft, and the home features a detached garage and no basement.

The property would suit a specific type of buyer: those looking for a land-play opportunity, a first-time buyer seeking an entry point into homeownership with space for future expansion, or an investor interested in the long-term value of a large lot in a central Winnipeg neighbourhood. Its assessed value is significantly below the citywide average, suggesting a lower barrier to entry. A thoughtful perspective is that while the house itself is humble, the generous lot provides a canvas for gardening, outdoor living, or potential future development, offering a balance of affordability and possibility that is increasingly hard to find.

Frequently Asked Questions

1. Is this a fixer-upper?
Based on the age (1947) and the notable difference between the living area size and the lot size, the home likely requires updates or renovations. The focus for a buyer may be on modernizing the existing structure or planning for a more significant project.

2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's characteristics relative to the entire city. The compact home size and the neighbourhood's market conditions result in a value that is well below the Winnipeg average, though it is typical for comparable homes on the same street.

3. What can I do with such a large lot?
The expansive lot is the standout feature. It allows for substantial private outdoor space, large gardens, recreational areas, or the potential for additions like a shed, workshop, or even a future garage. It also provides a future flexibility that smaller lots do not.

4. How does the lack of a basement impact storage and utilities?
Without a basement, storage space and the location of mechanical systems (furnace, water heater) will be within the main living area. This is a key practical consideration for layout and storage planning.

5. Are the recent sale prices for nearby homes similar?
The provided data shows a recent sale on the same street in 2022 at a very similar price point, indicating consistency in the immediate area. The "similar assessed value" listings also suggest this is a stable price range for homes with these characteristics in broader North Winnipeg.