325 Redwood Avenue – Property Summary

Key Characteristics & Appeal

This property sits on a 3,012 sqft lot with a living area around 1,005 sqft, built in the mid-1930s. The assessed value is $72,000, which is notably low compared to the street, neighbourhood, and city averages. On Redwood Avenue, it ranks #511 out of 518 properties—essentially in the bottom tier. The same holds true at the neighbourhood (St. John's) and citywide (Winnipeg) levels: the property consistently falls below median benchmarks across all three categories.

The appeal here is not in luxury or size. Instead, the property offers entry-level affordability in a city where average assessed values exceed $390,000. The lot, while smaller than typical for the area (3,012 sqft vs. a neighbourhood average of 3,821 sqft), still places in the top 77% locally—meaning many neighbouring properties have even less land. The home's age (1934) aligns with the street and neighbourhood medians, so it's not an outlier in that sense.

This property would suit buyers who are comfortable with a fixer-upper or who prioritize location over condition. It may also appeal to investors looking for a low-cost entry into the St. John's area, or to first-time buyers who need to minimize upfront cost and are willing to put in sweat equity. The low assessed value could also translate to lower property taxes relative to newer or larger homes nearby, which is worth factoring into long-term holding costs.

Five Possible FAQs

1. Why is the assessed value so much lower than the city average?
The citywide average ($390,100) pulls in many newer, larger, and higher-value properties across Winnipeg. This home's lower square footage, older construction, and smaller lot all contribute to a below-median assessment. It's not unusual for a home of this age and size in this part of the city to be valued well below the citywide figure.

2. Does a low assessed value mean the property is in poor condition?
Not necessarily. Assessed value reflects market comparisons, not a physical inspection. A low value could indicate a smaller home, older finishes, or a less desirable location within the neighbourhood—but the home may still be structurally sound. A home inspection would give a clearer picture of condition.

3. How does the lot size compare to other homes nearby?
The lot is 3,012 sqft, which is below the street average (3,449 sqft) and neighbourhood average (3,821 sqft). However, it ranks in the top 73% on the street and top 77% in the neighbourhood, meaning most nearby properties have smaller lots. It's a relatively modest lot, not a standout in either direction.

4. Is this property a good candidate for renovation?
Potentially, yes. The low assessed value gives room for added value through updates. However, buyers should check zoning, permits, and any restrictions in the St. John's area. Also, because the home is from the 1930s, older systems (plumbing, electrical, foundation) may need attention before cosmetic work.

5. How does the year built affect the property's appeal?
The property was built around 1934, which matches the street and neighbourhood averages. Older homes can have character and sturdy construction, but they may also come with maintenance needs (e.g., older windows, insulation, roof). Buyers should budget for potential upgrades that aren't visible in the assessed value.