Property Overview: 886 Redwood Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic one-storey home in Burrows Central, built in 1912, offering a straightforward and affordable entry into homeownership. Its key appeal lies in its value proposition: a detached home with a good-sized lot (over 3,300 sqft) and a detached garage, at a very accessible price point. The living space is compact at 774 sqft, and the basement exists but is unrenovated, presenting a clear canvas for future improvements.
The property suits first-time buyers, practical investors, or downsizers seeking a low-maintenance footprint without strata fees. Its value is rooted in the land and the structural opportunity it represents, rather than in turn-key finishes. A thoughtful perspective for a buyer is to see the home’s age not just as a challenge, but as a chance to own a piece of the neighbourhood’s history, with the lot size offering potential for expansion or outdoor space that is rare in newer, denser developments at this price. It’s a home for someone comfortable with a project, who values location and lot over immediate modern comforts.
Section 2: Frequently Asked Questions
1. What is the true condition of the home?
The listing notes an unrenovated basement, and the home’s age (1912) suggests that major systems like plumbing, electrical, and the roof may require inspection and potential updating. The living area is modest, so the condition of the main floor will be a primary factor.
2. How does the assessed value relate to the sale price?
The home last sold in December 2022 for $18,500. Its current assessed value is $16,600. This indicates a market value that is typically quite stable and affordable, but the final sale price will depend on current market conditions and the home’s present state.
3. Is the lot size a significant advantage?
Yes. At 3,305 sqft, the lot is larger than many in the immediate area and offers valuable outdoor space or future development potential (subject to zoning). This is a key asset that adds long-term value beyond the current home.
4. What is the neighbourhood like?
Burrows Central is a mature, established neighbourhood. The property’s metrics show it is very typical for the area in terms of lot size, age, and value, suggesting a stable, no-frills community. Prospective buyers should visit at different times to gauge traffic and neighbourhood activity.
5. Who would this property not suit?
It would not suit buyers looking for a move-in-ready home, those needing significant space, or anyone hesitant about taking on potential renovation projects. The compact living area and likely need for updates make it a practical choice rather than a luxury one.