278 Redwood Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a newly built home (2020) in Winnipeg’s William Whyte neighbourhood, standing out sharply against the area’s older housing stock. Its living area is 1,112 square feet—slightly above the street average but modest by citywide standards. The lot is 3,225 square feet, typical for the neighbourhood but well below the city average, suggesting compact urban living rather than sprawling space.

The property’s real strength is its assessed value. At $271,000, it ranks in the top 4% of the neighbourhood and top 12% on the street, while sitting well below the citywide median of $390,000. This combination of a newer build with relatively high local valuation makes it an unusual find: you’re getting a modern home in an older, more affordable pocket of the city.

The home is best suited for buyers who prioritize a recently built, low-maintenance property in a neighbourhood that is still developing its value. It would appeal to first-time homeowners looking for something move-in ready, or to investors eyeing a property that already outperforms its local market. The small lot means less yard work, which could attract those who don’t want a large outdoor commitment. One less obvious angle: because the home is so much newer than its neighbours, it may feel out of step with the street’s character—worth considering if you value neighbourhood cohesion or long-term resale when surrounding homes are decades older.

FAQs

1. Why is the assessed value high for the neighbourhood but low for the city?

The home is brand new in an area where most housing dates to the 1920s–1930s. The citywide average compares it against all Winnipeg properties, including much larger homes in pricier areas. Locally, it’s a standout—hence the top-tier ranking.

2. How much does the age gap between this home and its neighbours matter practically?

You’ll likely have fewer immediate repair needs than older homes on the street. However, the surrounding properties may still have aging infrastructure (e.g., old sewers, trees, sidewalks) that could affect your experience. The street’s overall character is still defined by its older housing.

3. Is a 3,225 sqft lot small for a single-family home?

It’s typical for this neighbourhood but small compared to the city average of 6,570 sqft. You get a manageable yard, not a large garden or space for major expansions. If you want privacy between houses or room to build a garage, check the setback and zoning rules.

4. Does the home have parking or a garage?

The provided data does not specify. Given the lot size and year built, many homes of this era include a driveway or small garage, but you’ll need to confirm directly with the listing.

5. What does “Top 4% in the neighbourhood” mean for resale potential?

It suggests strong local demand relative to other William Whyte homes. However, resale value will depend on how the neighbourhood changes over time. If it gentrifies, you’re well positioned. If it stalls, the home may remain a premium outlier in a lower-value area.