Property Overview: 884 Redwood Avenue, Winnipeg
Key Characteristics & Appeal
This is a modest, century-old home (built 1911) on a standard city lot in the Burrows Central neighbourhood. Its primary appeal lies in its position as an affordable entry point into the Winnipeg market, with an assessed value significantly below the citywide average. The house itself is compact at 879 sq ft of living space, typical for its street and area, and features a one-and-a-half-storey layout with an unrenovated basement. There is no garage or pool.
The property would best suit a hands-on buyer looking for a land-value opportunity or a very basic starter home with renovation potential. It’s a practical choice for an investor, a first-time buyer comfortable with a project, or someone seeking minimal property tax obligations. A less obvious perspective is that its very average metrics for the immediate area—neither the largest nor the smallest, oldest nor newest—suggest a stable, unpretentious streetscape without extreme outliers, which can be appealing for those seeking consistency over flash.
Frequently Asked Questions
1. Is the assessed value the same as the market value?
No. The assessed value ($16.3k) is for municipal tax purposes. The market value (sale price) is set by buyers and sellers. A nearby, very similar home at 882 Redwood recently sold for $15.7k, which provides a concrete benchmark.
2. What does "one & 1/2 storey" mean for this home?
This typically describes a home where the second level has sloped ceilings (following the roof line), creating smaller, cozier rooms often in what was originally the attic space. It’s a classic design for homes of this era.
3. How does the lot size compare?
At 3,305 sq ft, the lot is very close to the average for both Redwood Avenue and the Burrows Central area. It provides a standard urban yard space but is below the much larger citywide average.
4. What should I consider about the unrenovated basement?
An unrenovated basement in a 1911 home requires a careful inspection. It presents both potential for future living space and the possibility of foundational, moisture, or system updates that come with age. Budget for an expert assessment.
5. Who might this property not suit?
It is not suited for buyers seeking a move-in-ready home, modern finishes, or ample storage (no garage). Its compact size and need for updates also make it a poor fit for those unable or unwilling to manage renovation projects.