783 Redwood Avenue

Property Overview & Key Characteristics

This one-and-a-half storey home at 783 Redwood Avenue is a compact, no-frills property built in 1935. Its primary appeal lies in its position as one of the most accessible entry points into the Winnipeg market, underscored by a very low assessed value. With 686 square feet of living space and a 2,284 sqft lot, it is notably smaller than area averages, presenting a minimalist footprint. The home features a basement (not renovated) and a detached garage.

Its suitability is for a specific buyer: investors or handy first-time purchasers with realistic expectations and a focus on location over size. The appeal is not in its current condition or space, but in its potential as a foundational asset in a central neighbourhood. It represents a low-barrier opportunity for someone looking to build equity through gradual improvements or to secure a rental property with a modest initial outlay. The data suggests it’s a property that prioritizes function and affordability over comfort or modern amenities.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home’s smaller size, age, and likely its condition relative to the broader market. It is characteristic of compact, older homes in central neighbourhoods, indicating a property valued primarily for its land and location rather than its structure.

2. What does "below average" for living area mean for daily living?
With 686 sqft, the home is significantly cozier than the typical Winnipeg house. It would require efficient use of space and is best suited for a single person, a couple, or an investor. It’s not designed for a growing family or those who need ample room.

3. Is the unrenovated basement a major concern?
It depends on your plans. The notation "not renovated" suggests it’s in original or utilitarian condition. It should be inspected for moisture and structural integrity. For an investor or budget buyer, it may offer raw storage or future potential, but it is not move-in-ready finished living space.

4. How does the lot size impact future possibilities?
At 2,284 sqft, the lot is smaller than most in the area. This limits possibilities for large additions or extensive outdoor amenities. However, it also means less maintenance and could be appealing for those seeking a low-upkeep property.

5. The sold price history shows a range from 2016. How useful is that for today’s market?
While it provides historical context, a sale from nearly a decade ago is not a reliable indicator of current value. Market conditions, interest rates, and the property’s condition have likely changed. It primarily shows the home’s long-standing position as an affordable option.