448 Redwood Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1,435 sqft home on a 3,508 sqft lot, built in 1905, with an assessed value of $199,000. Its standout feature is space: the living area ranks in the top 9% on its street and top 20% in the neighbourhood, well above the local averages of 1,005 and 1,158 sqft respectively. The assessed value is also strong locally—top 28% on the street and top 17% in the area—suggesting the property's size is reflected in its valuation relative to nearby homes. The land area (3,508 sqft) aligns closely with the street and neighbourhood averages.
The main trade-offs are age and citywide comparison. Built in 1905, it’s significantly older than most homes on the street (average 1934) and the neighbourhood (average 1927). Citywide, it ranks in the bottom 2% for age. Similarly, while the assessed value looks good locally, it falls well below the citywide average of $390,100—meaning this property is priced in a more modest segment of the Winnipeg market. The lot is also smaller than the typical citywide lot (6,570 sqft).
This property would likely suit a buyer who values indoor square footage and a solid urban lot within an established neighbourhood, and who is comfortable with an older home. It’s less suited for someone looking for a newer build, a large yard, or high resale value relative to the broader city market. The combination of above-average size and below-average citywide valuation makes it a potential candidate for value-conscious buyers, especially those who see potential in updating or renovating an older structure in a central location.
Five Possible FAQs
1. How does this home’s age affect its desirability?
The home is roughly 120 years old. While this places it in the oldest few percent citywide, many homes in the William Whyte neighbourhood are from the 1920s and 1930s, so it’s less of an outlier locally. Older homes often mean solid construction and character features, but also potential for older systems (plumbing, electrical, foundation) that may need updating. Buyers should budget for a thorough inspection and possible renovation work.
2. Is the assessed value a good deal or a warning sign?
Locally, the assessed value is above average—top 28% on the street and top 17% in the neighbourhood. That suggests it’s not undervalued relative to its immediate surroundings. However, citywide it sits in the bottom 8% of values. This mismatch is typical for older homes in central neighbourhoods where prices are lower than suburban or newer areas. It’s not a red flag, but it does mean resale value may be tied more to local demand than citywide trends.
3. How does the lot size compare to typical Winnipeg properties?
At 3,508 sqft, the lot is in line with the street and neighbourhood averages (3,449 and 3,277 sqft), but significantly smaller than the citywide average of 6,570 sqft. In practice, this is a standard urban lot for a central neighbourhood—enough for a house, a small yard, and perhaps a garage, but not expansive. Buyers expecting a large garden or room for additions should check local zoning and setback rules.
4. What type of buyer is this home best suited for?
It’s a natural fit for someone who wants more indoor living space than typical homes in the area offer, without paying a premium for a large lot. The age and below-average citywide valuation also suggest it could appeal to investors or first-time buyers willing to take on cosmetic or system upgrades. It’s less ideal for families needing a big yard or buyers who prioritize a move-in-ready, modern home.
5. How do the rankings work, and what do the colours mean?
The rankings compare this property against other homes of the same type within three scopes: the street, the neighbourhood (William Whyte), and citywide (Winnipeg). A higher rank means better performance (e.g., larger living area, higher assessed value, or newer construction). The fill length of the bar shows roughly what share of comparable homes you outperform. The colour tiers (red, blue, amber, gray) indicate how far above or below the median the property sits—useful for a quick visual sense of where it stands.