Property Overview: 625 Redwood Avenue
Key Characteristics & Appeal
This one-and-a-half storey home on Redwood Avenue in Inkster-Faraday presents a practical opportunity with a distinct character. Built in 1911, it offers 1,175 sqft of living space, which is notably above average for both the immediate street and the neighborhood. This suggests a home with potentially generous room sizes compared to many nearby properties. It features a detached garage and a basement that is noted as being unrenovated, offering a blank canvas for future improvement.
The primary appeal lies in its value proposition and location within a well-established community. The home’s assessed value is positioned well below the citywide average, which could indicate an accessible entry point into the Winnipeg market. Its living area ranking in the top 30% for the neighborhood means you’re getting more interior space than most comparable local homes, a significant practical advantage. The lot, while smaller than area averages, translates to lower maintenance.
This property would suit a value-conscious buyer, such as a first-time homeowner or an investor, who is comfortable with a home that has history and sees potential in a property where the interior space is a relative strength. It’s for someone who prioritizes functional square footage over a large yard and views an unrenovated basement as an opportunity rather than a drawback.
Frequently Asked Questions
1. What does the "above average" living area ranking actually mean for daily life?
It means that for the Inkster-Faraday area, this home offers more interior space than roughly 70% of comparable properties. In practical terms, rooms are likely to be more spacious than what is typically found in nearby homes of a similar style and vintage.
2. The assessed value is low compared to the city. Is this a red flag?
Not necessarily. Assessed value for taxation purposes doesn't always equal market value. In this context, it primarily reflects that the home is in a neighborhood with lower average property values citywide. It often correlates with a more affordable purchase price and lower property taxes.
3. The land area is noted as "below average." How small is the lot?
The lot is 2,282 sqft. For perspective, that’s significantly smaller than the neighborhood average lot of about 3,450 sqft. This means outdoor space is limited, but it also reduces yard maintenance responsibilities and costs.
4. The home was built in 1911. What should I be most concerned about with this age?
While charm and character are benefits, key considerations for a home of this age include the condition of major systems like plumbing, electrical (which may need updating), and the foundation. The unrenovated basement should be inspected thoroughly for moisture issues or structural concerns common to older foundations.
5. The last sold price shown is a wide range from 2020. How do I find the exact price?
The exact sold price history is not publicly displayed in detail. As noted on the listing, you can request this information directly by emailing the provided service. They manually provide the accurate figure, typically by the end of the same business day.