Property Overview: 739 Redwood Avenue
Key Characteristics & Appeal
This one-and-a-half storey home on Redwood Avenue in Inkster-Faraday is a practical and historically grounded property. Its key characteristics include a renovated basement, a detached garage, and a modest 1,008 sqft of living space, which is typical for the immediate area. Built in 1914, it carries the charm and solid construction of its era, though this also means potential maintenance considerations common to century-old homes.
The appeal lies in its position as an affordable entry point into the Winnipeg market. With an assessed value significantly below the citywide average, it represents a lower barrier to entry. The renovated basement adds functional living space, a valuable upgrade. Its lot, while smaller than average, offers a manageable outdoor area with less upkeep. This isn't a sprawling modern home, but a straightforward, no-frills property that has been maintained and updated where it counts.
This home would suit first-time buyers or pragmatic investors looking for a cost-effective foothold. It’s for someone who values character over newness and is comfortable with a home that requires a watchful eye on upkeep. The buyer likely prioritizes financial accessibility and a established neighbourhood over premium square footage or a large yard.
Frequently Asked Questions
1. What does the assessed value tell me about the property taxes?
The assessed value of $16,300 is well below the Winnipeg average, which typically translates to proportionally lower property taxes—a key ongoing cost savings.
2. The home is over 110 years old. What should I be mindful of?
While the renovated basement is a plus, a home from 1914 will have aging core components. A thorough inspection should focus on the foundation, original plumbing and electrical systems, and the roof's condition.
3. How does the smaller lot size impact the property?
At 2,284 sqft, the lot is compact. This means lower maintenance, but also limited potential for expansions or additions. It offers privacy from neighbours proportionate to the home's size.
4. The sold price history shows a range. What does that indicate?
The listed price ranges from past sales suggest this is a lower-priced segment of the market where final sale prices can vary based on condition and negotiation. It underscores the importance of viewing the property in person to assess its current state and value.
5. How does this home compare to others nearby?
Within its own neighbourhood and street, this home is generally "around average" in size, value, and age. It fits right into the local fabric, meaning you're not overpaying for an outlier, but buying into a consistent community character.