Property Overview & Key Characteristics

This one-storey home at 1148 Redwood Avenue in Winnipeg's Burrows Central neighbourhood presents a specific and practical value proposition. Built in 1966, its key appeal lies in its updated basement and its position relative to the local market. The living space is compact at 724 sqft, which is below average for the area, but it sits on a standard city lot of over 3,200 sqft. Notably, its assessed value ranks above average for both its street and neighbourhood, suggesting it is viewed favorably compared to immediate peers, though it sits below the wider Winnipeg average.

The property’s appeal is grounded in affordability and low-maintenance living. It would suit a first-time buyer seeking an entry point into homeownership, an investor looking for a rental property with a renovated basement suite (subject to verification of permits and zoning), or someone wanting a modest, single-level layout. A thoughtful perspective is that while the home itself is smaller, the lot size offers standard development potential for the area, providing future flexibility that smaller infill lots do not. Its above-average ranking for year built locally also implies a relatively newer structure in a neighbourhood with many older homes, which can mean fewer immediate concerns with aging core components.

Frequently Asked Questions

1. Is the renovated basement a legal suite?
The listing notes a renovated basement, but it does not specify if it is a legal, secondary suite. Buyers must verify with the city for proper permits, zoning, and compliance with safety codes.

2. How does the assessed value relate to the likely sale price?
The property last sold in April 2021 for $20,900 and is now assessed at $22,100. This assessed value is a municipal valuation for tax purposes and is typically below market value. The sale price will be determined by current market conditions.

3. What are the implications of the smaller living area?
At 724 sqft, the above-ground living space is modest. This emphasizes efficient use of space and likely lower utility costs, but buyers should ensure the layout meets their needs, potentially relying on the finished basement for additional room.

4. The home has no garage. What are the parking options?
The property listing specifies no garage. Buyers should investigate on-street parking regulations, the potential to add a driveway or parking pad, and typical parking availability in the immediate area.

5. How does this home compare to others on the street?
Data shows that for its lot size and year built, this home ranks around or above average on Redwood Avenue. However, its living area is below the street average. This indicates you are purchasing a well-situated lot with a smaller-than-typical house for the block, which is reflected in its value positioning.