Property Overview
This two-storey home at 242 Oak Forest Crescent is a standout property in Winnipeg's Assiniboia Downs neighbourhood. Built in 2010, it combines modern construction with an exceptionally large, private lot. The home features over 3,400 sqft of living space, an attached garage, and a renovated basement. Its true distinction lies in its land—at nearly 26,000 sqft, the lot size ranks in the top 1% citywide, offering rare suburban space and potential within the city.
Key Characteristics & Appeal
The primary appeal of this property is its remarkable balance of a modern, spacious home on a vast, private parcel of land. While the 2010 build offers contemporary living without the concerns of an older home, the nearly half-acre lot provides a level of privacy, outdoor space, and long-term flexibility that is increasingly uncommon in Winnipeg. The home itself is well-sized, with a renovated basement adding to its functional living area.
This property would perfectly suit two types of buyers. First, it’s ideal for a growing or multi-generational family seeking ample indoor space alongside extensive room for children, pets, gardens, or future additions like a sport court or workshop. Second, it appeals to a buyer who values long-term potential; a lot of this size in the city represents a unique asset, offering options for significant landscaping, future development (subject to bylaws), or simply as a private retreat that is hard to replicate.
A less obvious perspective is its strong value proposition relative to its immediate area. The home’s assessed value places it in the top 2% of its neighbourhood and top 4% of its street, suggesting it is considered a premium property for the locale. However, when compared to similar assessed values citywide, the list includes homes in traditionally higher-priced areas like Wellington Crescent. This indicates you are acquiring a significant amount of land and space here for a value that, in other districts, buys a different type of property.
Frequently Asked Questions
Q: How does the lot size compare to a typical Winnipeg property?
A: It is exceptionally large. At 25,876 sqft, it is over five times the size of a standard 5,000 sqft city lot and ranks in the top 1% of all properties in Winnipeg for land area.
Q: The home was last sold in 2017. What has happened since then?
A: While specific renovations aren't fully detailed in the provided data, we know the basement has been renovated since the 2017 sale. The assessed value has risen from $126.8k to $157.1k in that time.
Q: Is the neighbourhood established or still developing?
A: Assiniboia Downs is an established neighbourhood. The street ranking shows a mix of home ages, with this 2010-built home being newer than about 60% of the properties on Oak Forest Crescent.
Q: What does the "Top 100%" ranking for living area in Winnipeg mean?
A: This means the living area of 3,443 sqft places it among the largest homes in the city by square footage. It ranks in the top tier, indicating it is larger than the vast majority of Winnipeg homes.
Q: The assessed value seems low for a home of this size. Why is that?
A: Property assessments in Manitoba are not market valuations; they are used for calculating municipal taxes. The assessed value can be significantly lower than the expected market sale price. The key takeaway from the data is that this home's assessment is considered very high for its specific neighbourhood and street, confirming its premium standing in the local area.