298 Overdale Street

Property Overview

This one-and-a-half storey home on Overdale Street in Deer Lodge presents a compelling blend of space, established character, and a premier location. Its key appeal lies in its generous proportions, both in its 2,035 sqft of living area and its 6,038 sqft lot, which are well above average for the immediate area and the wider Deer Lodge neighbourhood. The home’s standout characteristic is its elite assessed value relative to its peers, ranking #1 on its street and in Deer Lodge, signaling a property that is highly valued within its market context. A renovated basement adds modern functionality to the 1927-built structure. The detached garage and quiet, established street round out the practical benefits.

This property would suit buyers looking for a spacious character home in a mature, sought-after neighbourhood without sacrificing interior room. It’s ideal for those who value statistical outperformance in key metrics like lot size and assessed value over a newer build date. It appeals to someone ready to care for a classic home while enjoying the benefits of a top-tier location and significant interior space that surpasses most local comparisons.

Frequently Asked Questions

How does the assessed value compare to the recent sale price?
The home sold for $570,000 in August 2023, which is significantly higher than its $59,200 assessed value. It’s important to note that municipal assessed values in Manitoba are for tax purposes and often do not reflect current market value. The recent sale price is the clearer indicator of its market worth.

Is the home older than others in the area?
Yes. Built in 1927, it is older than the average home on its street (avg. 1932) and notably older than the average for Deer Lodge (avg. 1943). This suggests a classic, established character but may also imply different maintenance considerations compared to newer builds in the broader area.

What does the "Top 1%" ranking for assessed value mean?
This statistical ranking means that, for tax assessment purposes, this property is valued higher than 99% of comparable homes on its street and in the Deer Lodge neighbourhood. It’s a strong indicator that the municipality views it as a premier property within its local context, often reflecting lot size, location, improvements, and building size.

How does the lot size impact the property?
At over 6,000 sqft, the lot is larger than approximately 90% of lots in Deer Lodge. This provides ample outdoor space, potential for gardening, play, or expansion, and contributes to the home's premium assessment and desirability. It offers a sense of privacy and room that is less common in the neighbourhood.

Are the living area rankings contradictory?
Not exactly. The home ranks in the "Top 9%" on its street (very high) but in the "Top 10%" citywide (still above average). This highlights that Overdale Street and the Deer Lodge area generally feature more spacious homes than the Winnipeg average. So, while the home is exceptionally large for its immediate block, it remains comfortably above average even when compared to the entire city.