714 Redwood Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a compact, older home in Winnipeg’s William Whyte neighbourhood. At 720 square feet of living area, it’s smaller than most homes on its street, in its neighbourhood, and across the city—ranking in the bottom 5% citywide for size. The assessed value is $100,000, which is notably low even for the area, ranking in the bottom 10% on the street and the bottom 1% citywide. The house was built in 1911, making it older than the neighbourhood average and significantly older than the citywide median of 1966.
Where this property stands out is land. The lot is 3,357 square feet, which is roughly average for the street and neighbourhood, but well above the norm for an older urban property of this size. That gives it potential for expansion, a garage, or a garden that many comparably priced homes lack.
This property would suit a buyer who is comfortable with a smaller footprint and an older home, and who sees value in land rather than finished space. It’s a natural fit for first-time buyers priced out of larger or more updated homes, or for investors or renovators looking to add square footage or improve the existing structure. It may also appeal to someone who wants to live in a more central Winnipeg neighbourhood without paying a premium for a fully finished house. The low assessed value keeps property taxes modest, which is a practical advantage for budget-conscious buyers.
Frequently Asked Questions
1. Why is the assessed value so low compared to other homes in Winnipeg?
The $100,000 assessment reflects the home’s small living area, age, and possibly its condition relative to other properties in the city. Citywide, the median assessed value for comparable homes is $390,100, but this house falls in the bottom 1% for value. That’s typical for a small, older home that hasn’t been extensively updated, and it keeps the annual tax bill relatively low.
2. Is the small living area a problem for resale later?
It depends on the buyer pool. Small homes appeal to a narrower market—singles, couples, or investors. However, the larger-than-average lot gives future owners options: they could add an extension, build a secondary suite, or simply enjoy more outdoor space than most other small homes offer. That land value often helps with resale, especially if neighbourhood prices rise.
3. How old is the house, and what should I watch out for with a 1911 build?
The house was built in 1911, which is roughly average for the street but older than most homes citywide. Expect potential issues common to pre-war homes: older electrical systems, possible lead or galvanized plumbing, foundation settling, and less insulation. A thorough inspection and budget for upgrades are strongly recommended.
4. How does the land size compare to other homes nearby?
The lot is 3,357 square feet—close to the median on the street (3,449 sq ft) and in the neighbourhood (3,277 sq ft). Citywide, however, the median is much larger at 6,570 sq ft, so this is a smaller urban lot by city standards, but typical for older, denser neighbourhoods like William Whyte.
5. Is this a good area for first-time buyers?
William Whyte is one of Winnipeg’s more affordable central neighbourhoods, with a mix of older homes and some renovation activity. The low purchase price and modest taxes make it accessible, but buyers should factor in the age of the home and the likelihood of needing repairs. It’s a practical entry point for someone willing to put in some sweat equity or tolerate a smaller space in exchange for lower costs.