Property Overview & Key Characteristics

This 1911 one-and-three-quarter storey home on Redwood Avenue presents a classic Winnipeg character property with a notably large lot. Its key appeal lies in its balance of historic charm and practical potential. The 888 sqft living space is compact, but the 3,363 sqft land parcel is significantly larger than many in the city, ranking in the top 18% for area in Winnipeg. This offers rare outdoor space or future expansion possibilities in an established neighborhood. The home has an unrenovated basement and no garage, positioning it firmly as a value-conscious project or a solid entry point into the market.

Its assessed value is remarkably low, placing in the top 1% of Winnipeg (meaning 99% of properties are assessed higher), which suggests a very favorable property tax burden. This combination—low ongoing taxes, a large lot, and a modest, older home—creates a specific niche. It would suit a hands-on buyer looking for a footprint to build equity through gradual improvements, an investor seeking a land-value play, or a first-time buyer prioritizing low carrying costs over move-in-ready condition. The nearby comparison properties show a mix of similarly valued older homes and much newer, higher-valued builds, highlighting the area's transitional nature and this property's position as an affordable foundation.

Frequently Asked Questions

1. What does "one-and-three-quarter storey" mean?
This is a common architectural style for homes of this era. It typically means the second floor has sloped ceilings (following the roof line) and potentially dormer windows, creating full-height rooms in the center but with less usable space around the perimeter compared to a full two-storey.

2. How significant is the large lot size?
A lot of over 3,300 sqft in this area is a standout feature. It provides ample yard space, which is uncommon for homes at this price point, and could allow for future additions like a garage, a larger home footprint, or a generous garden, subject to zoning and permits.

3. The assessed value seems very low. What are the implications?
A $10,300 assessment is exceptionally low and directly translates to very low annual property taxes. This is a major financial advantage, keeping monthly carrying costs down. It's important to understand that assessed value for taxes is not the same as market value, which would be significantly higher.

4. What should I know about the "unrenovated basement"?
This means the basement is in its original or utility state. It likely has low ceilings, concrete floors, and basic finishes. It provides essential mechanical space and storage but would require significant investment to become finished living space. Check for moisture issues common in century-old foundations.

5. The neighborhood rankings seem mixed. How do I interpret them?
The rankings compare this property to others on the same street, in William Whyte, and across Winnipeg. For example, it ranks in the top 18% city-wide for lot size (a strength) but only in the top 40% on its own street for living area. This indicates that while the lot is a major asset, the house itself is modestly sized even for its immediate area, confirming its status as a home where the land is a key part of the value proposition.