Property Overview & Key Characteristics
This one-and-a-half storey home on Redwood Avenue is a practical and character-filled property built in 1914. Its key appeal lies in its balance of historic charm and modern functionality, featuring a renovated basement and a detached garage. With 1,092 square feet of living space, it sits comfortably above the average for both its immediate street and the broader Inkster-Faraday neighbourhood.
The home’s assessed value is strong for the area, ranking in the top 25% on its street, which suggests it is well-maintained or has features valued above many direct comparables. A thoughtful perspective is that while the lot size is smaller than typical, this can translate to lower maintenance and a more manageable outdoor space—a potential benefit for certain lifestyles. The property would suit first-time buyers looking for a move-in-ready home with character, or practical investors seeking a solid, updated property in a central Winnipeg neighbourhood without the upkeep of a large yard.
Frequently Asked Questions
1. How does the smaller lot size impact the property?
While the land area is below average, it offers a low-maintenance yard. It’s worth considering how this affects outdoor privacy, gardening potential, or expansion plans versus the benefit of less time and cost spent on upkeep.
2. The assessed value seems high for the neighbourhood. Why?
The assessment ranks well above the street average. This typically reflects recent renovations (like the updated basement), superior condition, or desirable features not captured in basic metrics. It’s a positive indicator of the home’s relative standing on the block.
3. What are the implications of a home built in 1914?
You gain classic architectural character, but it’s wise to inquire about the age and condition of major systems (like plumbing, electrical, and the roof) despite the renovated basement. Properly maintained heritage homes can be very sound.
4. Is the detached garage a significant advantage?
Yes. It provides secure storage or workshop space separate from the house, a valuable asset in older neighbourhoods where on-site parking or additional storage can be limited.
5. How does this home fit within the local market context?
The data shows it’s a competitively sized home for the area, with a value that outperforms many nearby properties. It represents a middle-ground option: more space and a higher assessment than many neighbouring homes, but on a more compact lot.