Property Overview
538 Seven Oaks Avenue is a one-storey home in Winnipeg's Jefferson neighbourhood, built in 1952. It sits on a standard 4,498 sqft lot and features 918 sqft of living space with a renovated basement and a detached garage. Its recent sale price and assessed value are consistently in the high $20,000s to low $30,000s range, positioning it as a notably affordable entry point into the Winnipeg market.
Key Characteristics & Appeal
This home’s primary appeal is its straightforward affordability and functional layout. It suits first-time buyers, investors, or downsizers seeking a low-cost foothold in the city with minimal financial barrier to entry. The renovated basement adds practical liveable or storage space, a valuable upgrade in a home of this vintage.
From a less obvious perspective, its value lies in its "average" metrics within its immediate area. While its size and value are below the city-wide average, they are typical for Jefferson and Seven Oaks Avenue. This suggests a stable, established community without the premium of more sought-after districts. The home is not a standout in terms of size or lot, but it represents a pragmatic, no-frills option in a neighbourhood where it fits right in. The detached garage is a practical asset for storage or vehicle protection, adding tangible utility.
Frequently Asked Questions
1. Is this a "tiny home"?
No. While its living area is below the city average, its 918 sqft is quite typical for its specific street and neighbourhood, placing it in the top two-thirds of similar Jefferson homes for size.
2. Why is the assessed value so much lower than the city-wide average?
Property assessments reflect local market conditions. The average assessed value in Jefferson is significantly lower than the Winnipeg-wide average, which is skewed higher by newer, larger homes in suburban areas. This home’s assessment is aligned with its immediate community.
3. What does the sold price history indicate?
The history shows a significant increase in value from the 2016 sale to the 2024 sale. This indicates strong appreciation over that period, though the home remains at a very accessible price point compared to the broader market.
4. Who would this property not suit?
It may not suit buyers looking for a modern, move-in-ready home without any projects, or those who prioritize a large yard or above-average interior square footage. The layout and finishes will be characteristic of its 1950s build.
5. How does the lot size compare?
The lot is just under 4,500 sqft, which is very standard for the area and provides a decent-sized yard for a home of this era, though it is smaller than the typical lot found in newer city subdivisions.