Property Overview & Key Characteristics
This 1914 one-and-a-half storey home on Redwood Avenue presents a classic Winnipeg character property with practical updates. Its key appeal lies in the combination of a generous, well-sized lot (over 3,200 sq ft), a recently renovated basement adding functional living space, and a detached garage. At just over 1,000 sq ft of living area, the home offers a manageable footprint.
The property’s value is underscored by its strong standing relative to the broader market. It ranks in the top 16% in Winnipeg for lot size and the top 10% for the age of the home (newer being better in this context), suggesting a solid foundation and desirable outdoor space. The assessed value is notably higher than many direct neighborhood comparisons, indicating perceived value above the immediate area's average.
This home would suit a first-time buyer or a downsizer looking for a character home without excessive maintenance, thanks to the renovated basement and manageable size. It’s also a strong candidate for a buyer who prioritizes outdoor space and potential (like a garden or future projects) over sheer interior square footage, given its lot ranking.
Frequently Asked Questions
1. What does the "renovated basement" typically include?
While specifics should be verified, a renovated basement in a home of this era often means it has been finished into a livable space, potentially including a recreation room, additional bedroom, or laundry area, adding valuable functional square footage to the main floor plan.
2. How does the assessed value compare to the likely selling price?
The assessed value of $20.3k is for municipal tax purposes and is typically far below market value. A more accurate price comparison comes from the listed price and recent sales of similar homes, not the tax assessment.
3. What are the implications of the home's age (1914)?
While the home has charm and a proven durability, it's essential to have a thorough inspection. This can identify the condition of original elements like wiring, plumbing, and the foundation, as well as confirm the quality of any updates, such as the basement renovation.
4. The lot ranks highly for size in Winnipeg. What are the advantages?
A larger lot offers more privacy, space for gardening, play, or entertaining, and potential for additions like a shed or deck. It also often provides better natural light and spacing from neighbors compared to tighter lots.
5. How does this property fit within the Burrows Central neighborhood?
The home appears to be a higher-value property within Burrows Central, based on its assessed value ranking above 65% of neighborhood homes. This suggests it may be on a desirable block or offer features that set it apart from others in the area.