856 Oakdale Drive

Property Overview: 856 Oakdale Drive

This well-situated one-storey home in Winnipeg's Eric Coy neighborhood presents a compelling opportunity. Built in 1971, it sits on a notably large, mature lot of approximately 8,780 sqft, offering more outdoor space than most properties in the city. The 1,132 sqft living area includes a finished basement, providing flexible space for recreation, guests, or a home office. A split garage adds practical storage. Recent market activity is highlighted by a sale in March 2022 for $550,000, significantly above the current assessed value of $435,000, indicating strong past buyer interest and potential for the area.

The home’s appeal lies in its balance of space, location, and established character. The expansive lot is a standout feature for gardening, play, or future expansion. Its rankings show it outperforms over 90% of Winnipeg homes for lot size and was in the top 11% for its last sale price, suggesting it’s in a desirable pocket. This property would suit first-time buyers or downsizers looking for a manageable single-level layout without sacrificing yard space, or an investor/renovator who sees value in the solid lot size and the potential to update a home with good fundamentals.

Key Considerations & FAQs

1. What is the significance of the lot size rankings? Ranking in the top 9% in Winnipeg for lot size is a major advantage. It means more privacy, room for outdoor activities, and a scarcity value that similar-sized homes on standard lots don't offer.

2. The 2022 sale price was much higher than the current assessment. What does this mean? The assessment is for taxation purposes and often lags behind the market. The 2022 sale is a concrete data point showing what a buyer recently paid, suggesting the area commands strong prices. It's crucial to understand current market conditions to see if this trend holds.

3. Who is the "finished basement" suited for? It adds valuable flexible space. It could be ideal for a family needing a playroom or teen retreat, a professional wanting a separate home office, or for hosting overnight guests without sacrificing main-floor privacy.

4. The home ranks lower for living area size. Is that a concern? While the living area is average for its community, the finished basement effectively expands usable space. The trade-off is clear: you're gaining a premier lot size, which is a fixed asset, versus a larger interior footprint, which can sometimes be altered.

5. What type of maintenance should be anticipated? As a home from 1971, prospective buyers should budget for updates to major aging components like the roof, windows, or HVAC system. A thorough inspection is essential to prioritize any necessary investments.