Property Overview: 647 Redwood Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1910, presenting a straightforward and affordable entry point into Winnipeg’s housing market. Its key characteristics are defined by its modest scale: a 699 sqft living area and a 2,283 sqft lot, both notably smaller than area averages. The home features a detached garage and an unrenovated basement. Its assessed value is significantly below citywide averages, reflecting its position as one of the most affordable properties in Winnipeg.
The primary appeal lies in its extreme affordability and low financial barrier to entry. It suits buyers with a clear vision for incremental improvement, such as first-time purchasers seeking to build equity, hands-on investors looking for a rental property with minimal initial outlay, or downsizers prioritizing minimal property maintenance and taxes. A less obvious perspective is its potential for someone interested in a "right-sizing" urban lot—the smaller parcel is manageable and could be creatively maximized with landscaping or outdoor living spaces, unlike larger, more demanding yards. It’s a property for those who see value in fundamentals: land ownership in the city at a very low cost, with the understanding that the home itself requires personal investment and vision.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is based on the property’s specific attributes—its smaller size, older age, and unrenovated condition—relative to the broader market. It consistently ranks in the bottom 10-15% of comparable properties in its area and citywide, which directly translates to its lower valuation and subsequent property taxes.
2. What does "below average" for Year Built mean for this house?
Built in 1910, it is older than about 75% of homes on its street. This suggests potential for classic architectural charm but also implies that major systems (like plumbing, wiring, or the foundation) may be original or dated and should be thoroughly inspected. Modernization will be a key consideration.
3. How reliable are the sold price ranges shown?
The provided price ranges are estimates based on publicly available data. To obtain the exact historical sale prices for this property, you must request them via email. The service is manual, with a promised reply by the end of the same business day, and your email is not used for marketing spam.
4. What type of renovation should I expect with an unrenovated basement?
An unrenovated basement typically means a raw, utilitarian space. It may have concrete walls and floors, exposed mechanical systems, and be suited for storage or laundry. Finishing it would require significant investment to address insulation, moisture control, and building code requirements for living spaces.
5. The home is smaller than average. How does that affect livability?
The 699 sqft layout will require efficient use of space and likely has fewer or smaller rooms than modern homes. It suits individuals, couples, or those comfortable with minimalist living. The trade-off for the compact interior is the very low carrying cost and the opportunity to customize the space precisely to your needs over time.