Property Overview: 856 Redwood Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home, built in 1913, presents a straightforward opportunity centered on its land and living space. Its primary appeal lies in offering more interior room than most comparable homes in the immediate area, with a living area ranking in the top 20% on its street. The lot size is typical for the Burrows Central neighbourhood, providing a standard urban footprint.

The property suits a specific type of buyer: those looking for an entry point into homeownership with a focus on the value of the structure itself rather than premium land, or an investor seeking a rental property with a lower assessed value base. It’s a pragmatic choice for a hands-on buyer comfortable with a home of this vintage, as the basement is noted as unrenovated and there is no garage. A less obvious perspective is that its very modest assessed value, while below the city average, could represent a manageable property tax burden, which is a significant long-term cost. The recent sale price closely aligning with the assessed value suggests a transparent, market-based transaction.

Section 2: Frequently Asked Questions

1. What does "one-and-a-half storey" typically mean for a 1913 home?
This style usually features a main floor with principal rooms and a second floor under sloping roof lines, often creating cozy bedrooms with potentially reduced ceiling height in some areas. It's a classic Winnipeg architectural style.

2. How significant is the living area being "above average" for the street?
With 1,216 sqft ranking well above local comparables (which average ~1,005 sqft), it indicates you are getting more enclosed living space than many neighbouring properties, which is a functional advantage in this price segment.

3. The assessed value seems very low compared to the city-wide average. Why?
The assessed value reflects the property's value relative to its specific market—older, more modest homes in neighbourhoods like Burrows Central. The city-wide average is raised significantly by newer, larger homes and more expensive areas. This assessment is in line with similar homes nearby.

4. What should I consider regarding the unrenovated basement?
An unrenovated basement in a century-old home requires a thorough inspection. It presents both a potential for future customization and a likely need to address foundational integrity, moisture management, and updating of older mechanical systems like wiring or plumbing.

5. There are no garage or pool mentions. What are the parking implications?
The listing confirms there is no garage. Buyers should verify on-site parking options, such as a driveway or rear lane access, and review city street parking regulations to understand daily logistics.