348 Redwood Avenue – Property Summary
Key Characteristics & Ideal Buyer Profile
This is a 1,759 sqft home built in 1928 on a notably large 6,765 sqft lot in Winnipeg’s William Whyte neighbourhood. Its strongest asset is land: the lot ranks in the top 1% on the street and in the neighbourhood—nearly double the average lot size on Redwood Avenue. The living area is also generous, ranking in the top 4% on the street and top 8% in the area, making it one of the larger homes in the immediate vicinity.
The assessed value sits at $214,000, which is above the street and neighbourhood averages ($174,000 and $149,100 respectively) but well below the citywide average of $390,100. This reflects a property that is sizable and desirable within its local context, yet priced modestly compared to the broader Winnipeg market.
The appeal lies in the land-to-price ratio. Buyers get a home with above-average interior space and an exceptional lot—rare in this price range. For those willing to invest in an older home (1928) that likely needs updating, the property offers long-term potential for expansion, garage construction, or simply outdoor space that most nearby homes lack. It would suit buyers who prioritize square footage and lot size over move-in-ready condition, and who are comfortable with a neighbourhood that is still evolving rather than fully established.
Frequently Asked Questions
1. How does this property compare to others in William Whyte?
The home ranks in the top 8% for living area and top 1% for land area within the neighbourhood. Its assessed value is in the top 12% locally, meaning it is one of the larger, more valuable properties in the area.
2. Is the assessed value of $214,000 a reliable price indicator?
Assessed value reflects municipal tax valuation, not market price. In this case, the home is valued well below the citywide average but well above local averages—suggesting it is a standout property within a lower-priced neighbourhood. A professional appraisal and recent comparable sales would give a clearer picture.
3. What condition is a 1928 home typically in?
The year built is around average for the street and slightly above average for the neighbourhood. Homes from that era often have solid construction but older systems (electrical, plumbing, heating). Buyers should budget for potential upgrades and plan a thorough inspection.
4. How can the large lot be used?
At nearly double the neighbourhood average, the lot offers flexibility. Possibilities include a large garden, a detached garage or workshop, an addition to the home, or simply privacy from neighbours. Check local zoning and setback requirements before making plans.
5. What does “Top 4%” or “Top 1%” actually mean in real terms?
These rankings compare this property against all other homes on the same street (or within the neighbourhood or city) for a given metric. For example, a “top 1%” land area means only about 5 homes on Redwood Avenue have a larger lot. It is a way to quickly see how this property stands out relative to its peers.