684 Redwood Avenue – Property Summary

Key Characteristics & Buyer Profile

This 1,014 sqft home, built in 1911, sits on a 3,365 sqft lot in the William Whyte neighbourhood. Its assessed value is $125,000.

Where its appeal lies: The property is most competitive at the local level. While its living area is slightly below the city average, it ranks solidly within its own street and neighbourhood (top 41% and top 60%, respectively). The land area is also a relative strength locally, ranking in the top 39% on the street. The major trade-off is age and value. At 1911, it is older than the city average (1966) and its assessed value of $125,000 is considerably below the city median of $390,100. For a buyer, this likely means a property that is more affordable upfront but may require ongoing maintenance typical of a century home. The low citywide value ranking (top 99%) also suggests the property does not reflect typical Winnipeg appreciation patterns, which could indicate a fixer-upper or a property in a quieter price corridor.

Who it suits: This home is best suited for a buyer focused on affordability and local compatibility rather than citywide prestige. It would likely appeal to someone who values being in an average or slightly above-average property within their immediate street and neighbourhood, without the expectation of high resale value or a modern build. First-time buyers, investors looking for a lower-cost entry point, or owners comfortable with older home upkeep would find it a realistic fit. It’s less suited for someone seeking a turnkey, low-maintenance property or wanting to compete with newer, higher-value homes across the city.

Five Possible FAQs

1. How does the assessed value compare to other homes in the area?
At $125,000, it is below the street average ($174,000) and neighbourhood average ($149,100). It ranks lower on the street (top 69%) and neighbourhood (top 58%), but falls far below citywide averages. This suggests the home is one of the more affordable options locally, but not the cheapest.

2. Is the property considered small for the city?
Yes, in terms of both living area and land. The 1,014 sqft interior is smaller than the city median (1,342 sqft), and the 3,365 sqft lot is well below the citywide average of 6,570 sqft. However, it is around average for its own street and neighbourhood, where lot sizes and home sizes are more modest.

3. What does the year built (1911) mean for maintenance or renovations?
A 1911 home is likely to have older construction methods (e.g., plaster walls, knob-and-tube wiring if not updated, possibly a stone or brick foundation). Buyers should expect potential costs for updating insulation, electrical, plumbing, and roofing. It ranks older than 93% of homes citywide, so it is characteristic of a historic neighbourhood rather than a modern subdivision.

4. How does the land area compare to others on the same street?
The 3,365 sqft lot is slightly below the street average of 3,449 sqft but ranks in the top 39%. This means it has a reasonably sized yard for the area, though not notably large. It’s in line with typical older urban lots in William Whyte.

5. Is this a good investment property or a personal home?
It leans more toward a personal home for buyers who value location and price over resale potential. The low citywide value ranking suggests it hasn't appreciated as strongly as other areas. As an investment, it could work as a rental with a low purchase price, but don't expect rapid equity gains unless the neighbourhood sees significant change.