Property Overview: 1007 Redwood Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This bi-level home at 1007 Redwood Avenue presents a compelling mix of modern convenience within a well-established neighbourhood. Its standout feature is its age: built in 2018, it is a notably newer construction, ranking in the top 4% of homes on its street and top 2% within Burrows Central. This translates to less immediate concern for major system replacements and potentially higher energy efficiency compared to the area's predominantly century-old housing stock. The home includes a renovated basement, adding valuable finished living space to its 1,000 sqft main footprint, which is average for the immediate area.
The appeal lies in this balance. Buyers acquire a low-maintenance, modern home without sacrificing the character and maturity of a central Winnipeg neighbourhood. The lot size of 2,285 sqft is smaller than area averages, which can be a positive for those seeking easier yard upkeep. Its assessed value sits well above average for the street and neighbourhood, reflecting its relative newness and condition.
This property would ideally suit first-time homebuyers or downsizers looking for a move-in-ready home with modern amenities, who prioritize interior condition over a large yard. It also appeals to value-conscious buyers seeking a newer build without a suburban price tag, who are comfortable in a neighbourhood where most homes are of a different vintage.
Section 2: Frequently Asked Questions
1. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finish. A buyer should inquire about the quality of the renovation, whether it includes a proper bathroom or kitchenette, and if necessary permits were obtained.
2. There's no garage. What are the parking options?
The property has no garage. Prospective buyers should verify on-site parking, such as a dedicated driveway or pad, and review any street parking regulations with the city.
3. How does the assessed value compare to the likely asking price?
The home is assessed at $300k, but last sold for $260k in 2019. In a changing market, the assessment is not a direct indicator of list or sale price. It does, however, signal that the city views this property as well above average for its immediate location.
4. The lot is smaller than most in Winnipeg. Is that a drawback?
This depends on lifestyle. The smaller lot (ranked in the top 82% on its street, meaning 82% of lots are larger) requires less maintenance and may lower landscaping costs. It is a trade-off: you gain a newer home but with less outdoor space than typical for the city.
5. The home is much newer than its neighbours. Are there any implications?
A modern home in an older area can be a great find. However, it's wise to consider the long-term context. Future resale value will be influenced both by the home's condition and by the overall trajectory of the established neighbourhood, not just the home's age.