696 Redwood Avenue – Property Summary
Key Characteristics & Buyer Profile
This 1911 home sits on a 3,360 sqft lot in Winnipeg’s William Whyte neighbourhood. With 920 sqft of living space and an assessed value of $142,000, it’s a compact, older property that compares modestly against both its street and citywide averages.
The appeal here lies in value and land. While the living area and assessed value are below city medians, the lot size is relatively generous for the neighbourhood—ranking in the top 40% on the street. The year built (1911) places it among older homes citywide, but it’s consistent with the surrounding area’s character.
This property would suit buyers who prioritize lot size over finishings, are comfortable with a century-old home requiring updates, or are looking for an entry point into a neighbourhood with older housing stock. Investors or first-time buyers seeking lower acquisition costs relative to land value may also find it worth a closer look. It’s less suited for someone wanting a move-in-ready home that competes on square footage or modern amenities.
Common Questions
1. How does the assessed value compare to similar homes nearby?
The assessed value of $142,000 is slightly below the street average of $174,000 and the neighbourhood average of $149,100. It ranks in the top 58% on the street, meaning it’s on the lower-cost side locally, but well below citywide averages.
2. Is the lot size considered small or large for this area?
The 3,360 sqft lot is around average for the street (3,449 sqft) and neighbourhood (3,277 sqft), and ranks in the top 40% locally. Compared to citywide averages (6,570 sqft), it’s small, but that’s typical for an older urban neighbourhood.
3. What should I know about a home built in 1911?
Older homes often have solid construction but may need updates to electrical, plumbing, insulation, or foundations. The average year built on this street (1934) and in the neighbourhood (1927) suggests many surrounding homes are similarly aged, so the area’s character is consistent—but don’t expect modern efficiency without renovation.
4. How does the living area affect livability?
At 920 sqft, this is slightly below the street and neighbourhood averages. It’s a compact home that could work for a couple or small family, but the layout may feel tight for those used to more space. The larger lot does offer potential for an addition, subject to zoning.
5. What does “Top 56%” or “Top 70%” actually mean for these rankings?
These rankings compare the property against similar homes within a given scope (street, neighbourhood, or city). A top 56% rank on the street means it does better than 44% of comparable homes on Redwood Avenue—so it’s around the middle. A top 82% citywide rank for land area means it underperforms most homes in Winnipeg, which is expected for an older urban property.