Property Overview
850 Redwood Avenue is a one-and-a-half storey home built in 1921, situated on a standard city lot in Winnipeg's Burrows Central neighbourhood. Its key appeal lies in its position as a classic, no-frills Winnipeg property with a detached garage and full basement. The home presents a straightforward opportunity, particularly for its land value and location within a well-established community.
Key Characteristics & Ideal Buyer
This home is defined by its practicality and context. With 933 sqft of living space, it offers compact, functional accommodation. The unrenovated basement presents potential for future expansion or storage, while the detached garage adds utility. The lot size is typical for the immediate area, offering a manageable outdoor space.
Its primary appeal is as an affordable entry point into the Winnipeg market. The assessed value is modest, especially when viewed against city-wide averages, suggesting a lower property tax burden. The home suits a first-time buyer comfortable with a property that may require updates, or an investor looking for a land-value play in a neighbourhood of similar, well-maintained older homes. A thoughtful perspective is that while the home itself is average for its street and area in terms of size and age, it represents a below-average financial commitment city-wide, offering a chance to build equity in a stable, unpretentious setting.
Frequently Asked Questions
What does "one-and-a-half storey" mean for this home?
Typically, this style features a main floor with principal rooms and a second floor under sloped roof lines, often containing bedrooms. It's a common, efficient design for homes of this era.
Is the basement finished or usable for living space?
The listing specifies the basement exists but is "not renovated." It should be considered unfinished utility space, suitable for laundry, storage, or mechanical systems, with potential for future development subject to permits and investment.
How does the assessed value compare, and what does it mean for taxes?
At $140k, the assessment is around average for Redwood Avenue but below average for both the broader neighbourhood and significantly below the Winnipeg average. This generally indicates a relatively lower municipal property tax bill compared to many city properties.
What is the significance of the lot size?
At 3,318 sqft, the lot is very typical for homes on this street and in Burrows Central. It's a standard city lot, providing a decent backyard and side space, but is not unusually large or small for the area.
Are sold prices from 2020 relevant today?
The listed 2020 sale price of $12.60k is a historical data point and is not representative of current market value. It may reflect a prior distressed sale or non-arms-length transaction. Current value should be determined by a recent comparative market analysis.