Property Overview
827 Redwood Avenue is a compact, one-storey home built in 1918, situated on a modest lot in the Burrows Central neighbourhood. Its primary appeal is its position as an affordable entry point into the Winnipeg market, with an assessed value significantly below the citywide average. The home presents a straightforward, no-frills profile: it has a functional but unrenovated basement, no garage, and no pool. The living space of 791 square feet is cozy and below average for the area, suggesting a efficient layout suited to minimalists or those comfortable in compact spaces.
This property would suit a first-time buyer, an investor looking for a rental property with a low entry cost, or someone seeking a modest home with very low property taxes due to its low assessment. It’s not a move-in-ready showhome but a practical canvas. A thoughtful perspective is that its smaller scale and lot size translate to lower maintenance costs and less time spent on upkeep, which can be a significant hidden benefit. Its age and condition indicate it is likely a value-play for someone willing to make gradual improvements or who prioritizes financial flexibility over immediate modern comforts.
Frequently Asked Questions
1. What is the true cost of ownership given the low assessed value?
While the property taxes will be very low due to the $16,500 assessment, buyers should budget for potential updates, as the home is over a century old and the basement is noted as unrenovated.
2. Is the land size a limitation or an opportunity?
At 2,283 sqft, the lot is smaller than most in the city. This limits expansive outdoor projects but can be seen as an advantage for those who want a manageable yard with less maintenance.
3. How does the living area compare to a typical condo?
At 791 sqft, the living space is similar to a mid-sized two-bedroom condo, but you gain the benefits of a standalone property, including a private yard and basement storage/utility space.
4. What does the sale history indicate?
The home sold for $15,300 in May 2021, which is close to its current assessed value. This suggests a stable, non-speculative market value for the property in its current condition.
5. Who might this property not be suitable for?
It would likely not suit buyers looking for a modern, turn-key home, those needing multiple bedrooms or generous living space, or anyone requiring a garage for vehicle storage or workspace.