Property Overview: 1025 Redwood Avenue, Winnipeg
Key Characteristics & Appeal
This is a classic one-and-a-half storey home in Burrows Central, built in 1913, offering a grounded opportunity in Winnipeg's market. Its primary appeal lies in its land value and location-specific practicality. The lot is notably generous for the area at nearly 3,900 sq ft, placing it in the top 28% on its street, which presents potential for outdoor space, gardening, or future expansion where permitted. With a living area of just over 1,000 sq ft and an unrenovated basement, the house itself is a straightforward canvas, suited for a hands-on buyer or an investor.
The property suits two main types of buyers. First, the practical first-time buyer or renovator looking for an entry point into homeownership with a focus on land size rather than a move-in-ready finish. Second, it appeals to the value-focused investor, given its assessed value is significantly below the Winnipeg city average, suggesting a lower entry point in a stable neighbourhood. A less obvious perspective is its appeal to those interested in character homes; while it needs work, a 1913 build offers architectural foundations that are often sturdier than many newer constructions, for those willing to restore its potential.
Frequently Asked Questions
1. What does "unrenovated basement" typically imply?
It generally means the basement is in original or functional condition, likely with concrete walls and floors, and may house the furnace and utilities. It presents both a blank slate for finishing and a potential source of future maintenance items to inspect.
2. How significant is the lot size here?
Very significant for the immediate area. The lot is larger than most comparable properties on Redwood Avenue and in Burrows Central, which is a key differentiator. This provides more private outdoor space than is typical and could be a long-term asset.
3. The home is over a century old. What should I prioritize in an inspection?
Beyond standard checks, focus on the foundation integrity, the state of the original plumbing and electrical systems, and the roof structure. The longevity of older homes is excellent if the core structure is sound, but these key systems often require updating.
4. The assessed value is much lower than the city average. Is that a concern?
Not necessarily. It primarily reflects the home's modest size and condition relative to the broader Winnipeg market, which includes many newer and larger suburban homes. In its own neighbourhood and street context, the assessment is around average, indicating it is priced appropriately for its local market.
5. What is the neighbourhood like?
Burrows Central is an established, no-frills residential neighbourhood. The property's metrics show it is very typical for the area in terms of home size, age, and value, suggesting a stable, community-oriented environment without extreme highs or lows.