Property Summary: 39 Oswald Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This 1981-built, two-storey home in Elmhurst sits on a generous 5,371 sqft lot and offers 1,918 sqft of living space. Its key appeal lies in a combination of established character and strong, modern performance metrics. The home features a finished basement and presents as a solid, well-sized family property.
Its standout value is demonstrated by data: it ranks highly within its immediate area for lot size, recent sale price, and assessed value. Notably, it recently sold for significantly above its municipal assessment, indicating strong market confidence. The home is newer than most on its street and offers more living space than the majority of homes across Winnipeg.
This property would suit buyers looking for a move-in ready home in a mature neighbourhood, who value data-backed investment potential. It’s ideal for those who appreciate a home that outperforms its local peers in key metrics like appreciation and size, without being the newest or most extravagant house on the block. It represents a pragmatic choice for a family or long-term buyer seeking stability and proven value growth in an established community.
Section 2: Frequently Asked Questions
1. How does the recent sale price compare to the assessment?
The home sold for $708,000 in August 2024, which is approximately $143,000 above its municipal assessment of $565,000. This suggests the market valued the property notably higher than its official tax valuation at that time.
2. What does the ranking data actually mean for a buyer?
The rankings show how this property compares to others in its immediate area, neighbourhood, and city. For example, ranking in the top 12% of Winnipeg for living size means it's more spacious than 88% of homes in the city. This data helps contextualize its value and desirability against the broader market.
3. Is the lack of a garage a significant drawback?
While the property has no garage, its large lot (over 5,300 sqft) offers potential for future addition or the installation of a shed, depending on local bylaws. This is a common feature in many older, established neighbourhoods and is often factored into the price.
4. The house is over 40 years old. What should I consider?
Built in 1981, the home is in the middle of its expected lifespan for major components. A thorough inspection is crucial to assess the current condition of the roof, windows, plumbing, and electrical systems. The positive aspect is that it is newer than 91% of the homes on its specific street.
5. Why are the rankings for "Land Size" and "Living Area" so different?
The property ranks very high for its lot size but moderately for its living area relative to its own street. This indicates that on Oswald Bay, it has one of the larger plots, but the house itself, while spacious by city standards, is more average in size compared to its direct neighbours. This could appeal to buyers who prioritize outdoor space over sheer interior square footage.