482 Redwood Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1911 home with 1,778 square feet of living space and a land area of 4,909 square feet. The property stands out most for its generous lot and interior size, especially relative to the immediate neighbourhood and street. On Redwood Avenue, it ranks in the top 3% for living area and top 7% for land area. Within the William Whyte neighbourhood, the lot size is particularly notable—ranked in the top 3%. Citywide, the living area remains above average, though the assessed value of $150,000 is well below the city median of $390,100.

The appeal lies in space per dollar. Buyers get a home that is significantly larger than most others on the same street and in the surrounding area, on a lot that is nearly 50% bigger than the neighbourhood average—all at an assessed value that sits roughly in line with local averages. The age of the home (1911) is typical for the area, though it is older than most citywide, meaning buyers should expect character features but also the maintenance needs of a century-old structure. This property would suit buyers who prioritize square footage and outdoor space over a turnkey modern finish, and who are comfortable working within an older home’s bones. It may be a strong fit for someone who wants to build equity through updates, as the low assessed value relative to the size suggests potential room for value growth.

Five Frequently Asked Questions

1. Is the assessed value of $150,000 accurate for a home this large?
Yes, the city assessment reflects comparable sales in the area. The home’s size and lot are well above average for the neighbourhood, but assessed values in William Whyte remain modest citywide. The discrepancy between size and value is part of what makes the property interesting—it’s not a mistake, but an opportunity to consider.

2. What should I expect from a home built in 1911?
Older homes often have solid framing, high ceilings, and original details, but they can also come with outdated electrical, plumbing, and insulation. Expect potential issues like settling, lead paint (if not remediated), and a lack of modern vapour barriers. A thorough inspection is strongly recommended, especially focusing on the foundation, roof, and mechanicals.

3. How does the lot compare to others in the area?
The land area of 4,909 sqft is well above both the street average (3,449 sqft) and the neighbourhood average (3,277 sqft). It ranks in the top 3% for the neighbourhood. This is a genuinely large yard for the area, which may offer room for gardens, a garage, or future expansion.

4. Why is the citywide rank for living area only top 18% if the home is nearly double the neighbourhood average?
Citywide comparisons include newer, larger homes in outlying suburbs and higher-density areas. The property is large for its immediate context but not exceptionally large when measured against the whole city. That context matters: you’re getting a lot of space for the neighbourhood, not necessarily for Winnipeg overall.

5. Is this a good investment property?
The low assessed value relative to square footage could appeal to investors looking for a value-add opportunity. However, the older age and below-average citywide valuation mean the upside depends on renovation quality and neighbourhood appreciation. It’s not a guaranteed flip, but the numbers give room for creative financing or sweat equity.