Property Overview: 720 Oakenwald Avenue, Crescent Park, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated one-storey home in Crescent Park offers a compelling blend of space, value, and location. Its key characteristic is a generous 7,073 sqft lot, providing ample outdoor space that ranks well above average for its immediate street and the wider city. The home itself, at 1,192 sqft of living area, is comfortably sized and sits in a renovated basement. A detached garage adds practical storage or workshop space.
The primary appeal lies in its exceptional assessed value proposition. With an assessed value of $46,600, it ranks in the elite top 5% on its own street and well above average in its neighborhood and city, suggesting a relatively low property tax burden for the area. This creates a rare opportunity for value-conscious buyers seeking entry into a established neighborhood. The 1953 build date is also notably newer than many immediate neighbors.
This property would ideally suit first-time buyers or downsizers looking for a manageable single-level layout without sacrificing yard space. It’s also a smart option for the financially pragmatic buyer who prioritizes long-term value and lower carrying costs, allowing more budget for personalization or savings.
Section 2: Frequently Asked Questions
1. What does the "elite" assessed value ranking actually mean for me?
It indicates this home's official city assessment is very low compared to similar homes on the same street. This typically translates to significantly lower annual property taxes, a major and ongoing cost savings.
2. Is the living space sufficient for a family?
At just under 1,200 sqft with a renovated basement, the home offers functional space for a small family or couple. The true advantage is the large lot, which provides room for children to play or for future expansions like a deck, garden, or addition, subject to permits.
3. How does the 1953 build year affect the home?
While newer than many direct neighbors (averaging 1949 on the street), a home of this age will likely have had major systems updated. A key question for any inspection would be the age and condition of the roof, wiring, plumbing, and foundation.
4. The home last sold in 2016 for $320k. Why is the assessed value so much lower?
Assessed value (for municipal taxation) and market value (what a buyer pays) are calculated differently. The large gap suggests the market has appreciated, but the city's assessment hasn't kept the same pace—a potential financial advantage for the current owner.
5. What is the neighborhood like?
Located on a quiet avenue just steps from Ruttan Bay, the area offers a established, residential feel. The proximity to multiple properties with similar assessed values on nearby streets suggests a consistent and stable character for this specific pocket of Crescent Park.