Property Overview
This one-storey home at 618 Oxford Street in Central River Heights presents a compelling opportunity centered on its generous lot and prime location. Built in 1953, the house itself offers 1,511 sqft of living space and features a renovated basement. Its key characteristic is a large, 6,478 sqft lot, which places it in the top 25% for land size on its street and the top 10% within the desirable Central River Heights neighbourhood. The property includes a detached garage.
The primary appeal lies in the combination of a sizable, versatile yard in a well-established community, paired with the modernized convenience of a renovated lower level. It last sold in July 2022 for $650,000, a price that placed it in the top 5% city-wide at that time, indicating strong market recognition for homes in this area with these attributes.
This property would best suit buyers who value outdoor space and location over a large interior footprint. It’s ideal for someone looking for a manageable single-level layout with room to garden, entertain, or potentially expand outdoors. It also appeals to those who appreciate a home with recent updates to the basement, offering immediate livability without a full renovation project. A less obvious perspective is that the large lot, relative to the home's size, represents a significant value in land for the area—a long-term asset that is increasingly rare.
Frequently Asked Questions
Q: How does the lot size compare to typical properties?
A: The lot is a standout feature. At 6,478 sqft, it is significantly larger than the average for both Oxford Street and the broader Central River Heights neighbourhood, offering ample private outdoor space.
Q: What is the significance of the 2022 sale price ranking so highly?
A: The sale price of $650k placed it in the top 3% for the neighbourhood and top 5% city-wide at that time. This suggests the market strongly values this specific location and property type, which can be a positive indicator for long-term value.
Q: Is the living area considered large for the area?
A: The living area of 1,511 sqft is around the average for the street but is actually above average when compared to all homes in Central River Heights and across Winnipeg. It offers comfortable space without being overly expansive.
Q: What does "renovated basement" typically imply?
A: While specifics would require confirmation, this generally means the lower level has been modernized to create finished, livable space, which adds functional square footage for recreation, guests, or a home office.
Q: The home was built in 1953. Should I be concerned about its age?
A: The year built is above average for the immediate street and neighbourhood, meaning many nearby homes are older. This is characteristic of mature, established areas like Central River Heights. A proper inspection is always advised to understand the condition of major systems and any updates.