686 Redwood Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a compact 680-square-foot home built in 1911, located on Redwood Avenue in the William Whyte neighbourhood of Winnipeg. The property stands out primarily for its land-to-living-area ratio. With a lot size of 3,364 square feet, the land ranks in the top 39% on the street and top 40% in the neighbourhood—meaning the yard is proportionally generous compared to the house itself. The living area, by contrast, is well below average at every level: street, neighbourhood, and citywide. The assessed value of $114,000 is low for the street and city, but roughly average for the neighbourhood.
The appeal here is not in a turnkey home, but in the underlying value of the land. Buyers who might be interested include those looking for a renovation project with room to expand, someone who wants a small house on a sizable lot in an established neighbourhood, or an investor focused on land value in an area where prices remain relatively grounded. The property is less suited to someone seeking a modern, move-in-ready home or a large living space without significant work. The year built (1911) places it among older homes in the city—typical for the area, but something to factor into maintenance expectations.
Frequently Asked Questions
1. How does the assessed value compare to similar homes nearby?
The property’s assessed value of $114,000 is below the street average of $174,000 and well below the citywide average of $390,100. However, within the William Whyte neighbourhood, it’s close to the median of $149,100, ranking around the middle of the pack. This suggests the assessment reflects the smaller living area rather than any major discrepancy in land value.
2. What does the “top X%” ranking actually mean for each category?
These rankings show how the property compares to similar homes within a given area. A higher percentage (e.g., top 87% for living area on the street) means it falls below most others—only 13% of homes are smaller. A lower percentage (e.g., top 39% for land area on the street) means it performs better relative to peers, with a larger lot than 61% of nearby homes.
3. Is a 1911 home likely to have hidden issues beyond what’s standard?
Older homes of this era often have characteristics like plaster walls, knob-and-tube wiring (if not updated), lead paint, and foundations that may need attention. The good news is that many homes in William Whyte were built in the same period, so local contractors and inspectors are familiar with the construction style. A thorough inspection is recommended, particularly for the electrical system, roof, and basement moisture.
4. Why is the living area so much smaller than the neighbourhood average?
At 680 square feet, this home is about one-third smaller than the typical home in the area (1,158 sqft average). This is likely an original bungalow or cottage-style house that was never expanded, unlike many nearby properties that may have had additions or were built larger from the start. The land size suggests there is room to add square footage, pending zoning and permits.
5. Would this property be suitable for a first-time buyer?
It depends on the buyer’s expectations and budget. The low assessed value and likely lower purchase price could make it accessible, but the small living area and age of the home mean there will be trade-offs in space and potential renovation costs. A first-time buyer comfortable with a project or a smaller footprint—and who values outdoor space—could find it a good fit. Someone wanting modern finishes and ample indoor space right away would likely be better off elsewhere.