682 Redonda Street

Property Overview & Key Characteristics

This property at 682 Redonda Street in Transcona North presents a unique opportunity centered on its land value and potential. The appeal lies almost entirely in the 2,160 sqft lot, which ranks in the top tier for size both on its street and within the wider Winnipeg area. The home itself is older, as indicated by its top-ranking position for age (where newer is typically better), suggesting it is one of the original structures in the area. With a notably low assessed value compared to nearby newer builds, this property is a clear candidate for renovation, redevelopment, or investment.

It would best suit a buyer looking for a value-entry point into the neighbourhood—specifically, an investor, a builder, or a hands-on purchaser willing to undertake a significant project. Its value proposition isn't in move-in-ready condition but in the underlying asset (the land) and the possibility to create new value. A thoughtful perspective is that this lot, surrounded by similar older homes, may be in a pocket poised for gradual renewal, offering a chance to get in before wider modernization occurs.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby properties?
The assessed value is primarily based on the existing older structure. Nearby properties with higher values are often newer builds or have been substantially updated, reflecting their current condition and market value.

2. What does the ranking for "Year Built" mean?
The listing shows it ranks in the top 1% for age on its street, meaning it is one of the oldest homes in the immediate area. This typically indicates the original dwelling is still in place and likely requires modernization.

3. Is this a good option for a first-time buyer?
It could be, but only for a specific type: a buyer with a realistic renovation budget, DIY skills, or a flexible living situation during construction. It is not a typical "starter home" in move-in condition.

4. What are the main considerations for redevelopment?
Key factors would be checking the local zoning bylaws for allowable building types (e.g., single-family, duplex), understanding any heritage or development restrictions, and budgeting for full utility connections and demolition/construction costs.

5. How does the land size compare practically?
At 2,160 square feet, the lot is a generous standard size for the neighbourhood. It provides ample outdoor space and may offer flexibility for additions, a garage, or landscaping that newer, denser subdivisions often lack.