861 Redwood Avenue

Property Overview

This one-and-a-half storey home on Redwood Avenue presents a classic Winnipeg character property with practical potential. Built in 1912, its key characteristics include a 940 sqft living area, a full (unrenovated) basement, a detached garage, and a notably generous 2,283 sqft lot. The home’s appeal lies in its solid foundation and the clear opportunity it represents. With an assessed value significantly lower than many in the city, it ranks highly for land size and value within Winnipeg, suggesting a property where the underlying asset—the land—is a strong feature. It suits first-time buyers or investors comfortable with a home that requires updates, or those looking for a manageable footprint with room to grow or garden outdoors. A thoughtful perspective is that while the living area is modest, the large lot offers valuable flexibility for expansion, parking, or outdoor living that is harder to find in newer developments. It’s a property for someone who sees a foundation, both literally and figuratively, rather than a finished product.

Frequently Asked Questions

1. What does the assessed value ranking mean?
The home’s assessed value places it in the top 3% for value in Winnipeg, meaning it is assessed lower than 97% of properties. This typically indicates a lower property tax base but often correlates with a home in need of modernization.

2. Is the basement finished or usable?
The listing confirms a full basement exists but specifies it is “not renovated.” Buyers should budget for any desired improvements and consider a thorough inspection to understand its current condition and potential.

3. How does the lot size compare to the neighbourhood?
At 2,283 sqft, the lot ranks in the top 13% on its street and top 11% in the Burrows Central neighbourhood. This is a standout feature, offering more outdoor space than many nearby properties.

4. What might the “not renovated” condition imply?
This generally indicates the home retains much of its original state. Buyers should anticipate potential updates to major systems like wiring or plumbing, alongside cosmetic renovations. The positive trade-off is often a more affordable entry price.

5. Who are the typical buyers in this area?
Based on the provided “often viewed” comparable listings, the area attracts buyers looking at character homes from the early 20th century, often with similar renovation profiles. It’s a neighbourhood where value and lot size are key considerations.