364 Redwood Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1907 home with 1,098 sqft of living space on a notably large 4,553 sqft lot. The land is what stands out: it ranks in the top 4% within the William Whyte neighbourhood and top 14% on the street itself—well above the local average lot size of roughly 3,277 sqft. The assessed value sits at $165,000, which is slightly below the street average of $174,000 but above the neighbourhood average of $149,100. Citywide, the value is well below average, reflecting the older housing stock and more modest finishes typical of this area.

The house itself is an early-20th-century build, older than most in the city and slightly older than the neighbourhood average. Its living area is in line with nearby homes—close to the street and neighbourhood median. The appeal here is not in a pristine, modernized interior but in the opportunity: a generous lot, a solid if dated structure, and a price point that sits well under citywide norms. Buyers who would suit this property include those open to a renovation or gradual upgrade, investors looking for land appreciation potential in an established neighbourhood, and first-time buyers priced out of newer or more central areas. The land-to-building ratio is worth noting—expanding or redeveloping could be a long-term play.

Frequently Asked Questions

1. How does the assessed value compare to recent sale prices in the area?
The assessed value of $165,000 is a government estimate based on market conditions as of the latest valuation date. It doesn't directly reflect current market sale prices. For recent comparables, you'd want to check active listings or sold data for similar homes on Redwood Avenue or in William Whyte. The neighbourhood average assessed value is $149,100, so this property is slightly above that—but sale prices often differ from assessments, sometimes significantly in a shifting market.

2. Is the large lot a practical advantage or a potential drawback?
A bigger lot means more outdoor space, which is a clear perk if you garden, need parking for multiple vehicles, or plan an addition. But it also means more yard maintenance—mowing, snow clearing—and potentially higher property taxes. In older neighbourhoods, larger lots can come with irregular shapes or utility easements, so a site survey or title review is worthwhile before making an offer.

3. What condition is a 1907 home typically in, and what should I inspect closely?
Homes of this vintage often have solid framing but may need work on electrical, plumbing, insulation, and foundation. Lead paint and asbestos are common in pre-1950s homes. A thorough home inspection should prioritize the roof, basement moisture, and any knob-and-tube wiring. The fact that the assessed value is below the street average could indicate deferred maintenance, but it may also reflect a conservative assessment rather than major issues.

4. How does this property compare to others in William Whyte?
The home's living area is roughly average for the neighbourhood, but its land area is in the top 4%. That combination is uncommon—many nearby homes sit on smaller lots. The year built is also slightly older than the neighbourhood median (1907 vs. 1927). So while the structure itself isn't unusual for the area, the land sets it apart. If you value space and potential over a turnkey interior, this property stands out.

5. What does "Top 96%" citywide mean for assessed value?
It means that 96% of comparable homes across Winnipeg have a higher assessed value. In other words, this is one of the more affordable properties citywide by that measure. That's partly due to its location in an older, less central neighbourhood and partly due to its age. For a buyer, it suggests lower entry costs but also lower resale value relative to city averages unless improvements are made or the area appreciates.