Property Overview: 1139 Redwood Avenue, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1948, sits on a notably spacious lot of nearly 4,000 sqft in the Burrows Central neighbourhood. Its key appeal lies in its land size, which is well above average for both the street and the local area, offering significant outdoor space and potential. With a living area of just over 1,000 sqft and a detached garage, it presents as a practical, grounded property. The home last sold in 2016 for $170,000, and its current assessed value is markedly below the Winnipeg city average, suggesting a more accessible entry point into the market.
This property would suit a first-time buyer, an investor, or a hands-on owner looking for a home with a substantial yard relative to its footprint. Its above-average lot size for the area is a standout feature for anyone valuing private outdoor space, gardening potential, or future expansion. A thoughtful perspective is that while the home itself is modest in size and era, its land ranking in the top quarter locally indicates a scarcity value that more modern subdivisions often lack. It’s a property where the land may hold more long-term value than the existing structure, appealing to those with a vision for gradual improvement or redevelopment.
Frequently Asked Questions
1. What does the "Top X%" ranking mean for the lot size?
The lot size of 3,997 sqft ranks in the top 27% on Redwood Avenue and the top 21% in Burrows Central. This means the property's land area is larger than most comparable lots in its immediate vicinity, which is a significant advantage in an established neighbourhood.
2. Is the low assessed value a concern?
Not necessarily. The assessed value is used for calculating property taxes and is often lower than market value. Its ranking as "below average" city-wide primarily reflects Winnipeg's wide range of property values. It's more relevant to compare it to the local area averages, where it is around average.
3. What are the implications of the home being built in 1948?
While not a new build, its year built is actually above average (newer) for both the street and Burrows Central, where many homes are from the 1930s. This suggests it may have more modern underlying systems than some neighbours, but a thorough inspection for an older home's typical upkeep is still essential.
4. Who might the similar "assessed value" properties be?
The listed properties with similar assessed values are primarily condominium units, not single-family homes. This highlights that 1139 Redwood Avenue offers a detached house and land at an assessed value point comparable to many condo units elsewhere in the city.
5. How should I interpret the 2016 sale price?
The $170,000 sale price from 2016 provides a historical benchmark, but it does not determine current market value. It indicates the home has been under stable ownership for several years. Current value will depend on market conditions, updates made since then, and the value buyers place on its substantial lot today.