316 Redwood Avenue: Property Summary

Section One: Key Characteristics & Who It Suits

This is a 1,695 sqft home built in 1903 on a 4,564 sqft lot in the William Whyte neighbourhood. Its standout feature is space. The living area ranks in the top 4% on the street and top 10% in the area, making it significantly larger than nearby homes. The land area is a strong point too, ranking in the top 4% neighbourhood-wide—rare for an older urban lot. The assessed value of $151k is roughly average for the street and area (which sit around $149k–$174k), but very low citywide, where the average is $390k. This creates a clear value gap: you get a large house and yard without paying a premium for the address. The property is old, ranking in the bottom 3% citywide for year built, so it comes with the maintenance expectations of a 120-year-old structure.

The appeal lies in getting more physical space for less money than newer or more centrally located homes. It suits buyers who prioritize square footage and a generous yard over modern finishes or a trendy location. Think of it as a solid candidate for someone willing to invest sweat equity, a family needing room to grow without stretching their budget, or a buyer looking for a property with good bones in a historically undervalued pocket of the city. It’s not for someone who wants a turnkey home in a high-demand core area.

Section Two: Five Possible FAQs

1. How does the assessed value compare to similar homes in the area?
   The value is basically on par with the neighbourhood average ($149k) and the street average ($174k), even though the home is much larger than most. This suggests the market here prices more for location and condition than square footage, making it a potential bargain for size.

2. What should I expect from a home built in 1903?
   Expect older construction methods—likely plaster walls, thick timber framing, and possibly original masonry or foundation work. It will likely need updates to insulation, electrical, plumbing, and windows to meet modern standards. The citywide data shows it’s far older than the Winnipeg average (1966), so a professional inspection is essential, particularly for knob-and-tube wiring, lead pipes, or settling.

3. Is the large lot actually usable?
   Yes. At 4,564 sqft, it’s roughly 40% larger than the typical lot on the street (3,449 sqft) and ranks in the top 4% neighbourhood-wide. That’s enough for a substantial garden, workshop, or expansion footprint, but keep in mind that citywide the average lot is actually larger (6,570 sqft), so it’s not oversized by broader suburban standards.

4. Why is the assessed value so low compared to the city average?
   The William Whyte neighbourhood has historically lower property values than the city median. The house’s age also factors in, as newer homes typically appraise higher. The low citywide ranking (top 97%) reflects that this property sits well below Winnipeg’s overall price curve, not that it’s in poor condition—just that the area isn’t currently high-demand.

5. How does this property compare to others on Redwood Avenue specifically?
   On its own street, it ranks near the bottom for year built (top 97%) but top 13% for land area and top 4% for living area. So it’s one of the oldest and largest homes on the block. Its assessed value sits right in the middle (top 53%), meaning you’re not overpaying relative to neighbours, but you’re also not below them—despite having significantly more space.