Property Overview: 414 Seven Oaks Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in the Jefferson neighbourhood presents a practical and straightforward opportunity. Built in 1950, it features 1,239 sqft of living space and sits on a standard 4,498 sqft lot. The home has a renovated basement but no garage or pool. Its recent sale history shows significant appreciation, with the latest sale price far exceeding those from 2017 and 2023.
The appeal lies in its solid, no-frills foundation within a mature community. The renovated basement adds functional living space, making it a move-in-ready canvas. It suits first-time buyers seeking an affordable entry into the market without major immediate renovations, or investors looking for a stable rental property in a neighbourhood with consistent, average value metrics. A less obvious perspective is its potential for someone wanting a home that isn't overly large or complex to manage, where the value has already been demonstrated through recent market activity rather than speculation.
Section 2: Frequently Asked Questions
1. How does this home compare to others in the area?
The data shows this property is consistently "around average" for key metrics like living area, assessed value, and land size when compared directly to homes on its street and in the Jefferson neighbourhood. It’s a typical home for the area.
2. Why is the most recent sold price so much higher than previous sales?
The jump from the 2023 sale price to the 2024 sale price likely reflects strong recent market conditions, the value added by the basement renovation, and broader increases in area property values.
3. What should I know about the lack of a garage?
Buyers should factor in street parking and consider the cost and feasibility of adding on-site parking or a shed for storage, which is common for homes of this vintage in Winnipeg.
4. Is the assessed value a reliable indicator of the market price?
Not directly. The assessed value (approximately $30,100) is for municipal tax purposes. The recent sold prices are a far more accurate reflection of its current market value.
5. What are the implications of the home's age (built in 1950)?
While the core structure is 76 years old, the renovated basement suggests some updates. A thorough inspection is crucial to understand the condition of major aging components like the roof, plumbing, and electrical systems.