788 Redwood Avenue – Property Summary
Key Characteristics & Buyer Profile
This two-storey home, built in 1909, offers 676 square feet of living space on a 3,339-square-foot lot in Winnipeg’s William Whyte neighbourhood. The property sits near the bottom of the market in terms of size and assessed value. Street-level data shows it ranks in the bottom 19% for value and bottom 12% for living area. The neighbourhood average living space is roughly 1,158 square feet, so this is a notably compact home.
The lot size, however, is a relative strength. At 3,339 square feet, it sits slightly below the street average (3,449 sqft) but is above the neighbourhood average (3,277 sqft) and ranks in the top 43% on the street. For an inner-city property, this is decent land, giving some outdoor breathing room that many comparable homes lack.
The assessed value of $111,000 is well below both the street average ($174,000) and the citywide average ($390,100). This reflects a combination of small square footage, older construction, and possibly deferred maintenance or finishes that haven’t kept pace with nearby properties. The year built (1909) places it among the older homes on the street—most were built around 1934—so an older foundation, wiring, and plumbing can be expected.
Where the appeal lies: For a buyer who values location over space, or who wants to get into a neighbourhood with a lower entry point than surrounding areas, this property offers a price point that is difficult to find elsewhere. It also has land that could be developed or improved upon, provided zoning allows. This is not a home for someone seeking move-in-ready modern finishes, but it could suit an investor or a buyer willing to take on renovation work in exchange for a low purchase price and a lot with potential.
Type of buyer it suits: First-time buyers on a tight budget, investors looking for a low-cost entry into the William Whyte area, or anyone who prioritizes a large lot over interior space. It may also suit a buyer who wants a small footprint for downsizing, but only if they are prepared for older home maintenance.
Frequently Asked Questions
1. How does the assessed value compare to similar homes nearby?
The assessed value is $111,000, which is about 36% below the average on Redwood Avenue ($174,000) and well below the citywide average. The ranking shows it sits in the bottom 1% citywide for assessed value, so it is among the cheapest homes in Winnipeg by this measure.
2. What is the condition of the home likely to be?
The data does not describe the interior condition directly, but the combination of a 1909 build, small square footage, and low assessed value relative to the street suggests the home likely needs significant updates or repairs. Buyers should budget for a thorough inspection.
3. Is the lot size unusual for the area?
It is slightly below the street average but above the neighbourhood average. The lot ranks in the top 43% on the street, so it is not especially large, but it is competitive for the area. Citywide, it is well below average because Winnipeg has many larger suburban lots.
4. How walkable or transit-friendly is the location?
The property is in William Whyte, a central neighbourhood in Winnipeg. Street-level details are not provided here, but this area generally offers reasonable access to transit, local services, and amenities. Buyers should verify specific proximity to bus routes and grocery stores based on their own needs.
5. What does the ranking system actually mean?
The rankings compare this property to similar homes (same street, neighbourhood, and city) on four metrics: living area, assessed value, year built, and land area. A rank of #455 out of 518 on the street means 455 homes have larger living areas than this one. The “top 88%” means only 12% of homes on the street are smaller. The bar fill on the original report indicates how many comparable properties you outperform on that metric, with colours grouping properties into performance tiers (red, blue, amber, gray).