Property Overview: 10-405 Oakdale Drive
This is a compact, one-bedroom condominium in the established Marlton neighbourhood of Winnipeg. Built in 1977, the unit offers 676 square feet of living space. Key features include no basement and no private garage. The property recently sold in June 2024 for $155,000, above its assessed value of $136,000.
Section 1: Key Characteristics & Appeal
This property’s primary appeal lies in its affordability and efficiency within a mature, stable community. It represents a straightforward entry point into the Winnipeg housing market, particularly for first-time buyers or investors seeking a low-maintenance rental property. The recent sale suggests a competitive market for well-priced, compact units.
Its standout characteristic is its exceptional competitive ranking within its immediate area. The data shows it ranks in the top 1% of properties on its street and top 0% within both the Marlton community and all of Winnipeg for its lot size or footprint—a notable advantage for a condo, indicating a potentially less dense building or favourable site layout. However, this is balanced by its smaller interior space, which ranks in the lower tiers for square footage.
The unit would best suit a minimalist, budget-conscious individual who prioritizes location and financial accessibility over space. It’s a practical choice for someone wanting to build equity without the upkeep of a house or yard. A less obvious perspective is its potential appeal to an investor looking for a stable, long-term tenant in a neighbourhood with consistent demand, given its proven marketability.
Section 2: Frequently Asked Questions
1. What do the "rankings" actually mean?
The rankings compare this property to others in the specified area (street, community, city) for a given metric. For example, ranking in the top 1% for "size" on its street means its lot/unit footprint is larger than 99% of its immediate neighbours, which is unusual for a condo.
2. Why did it sell for more than its assessed value?
Assessed value is for municipal tax purposes and can lag behind the current market. The sale price reflects what a buyer was willing to pay in June 2024, likely due to high demand for affordable housing options.
3. Is the lack of a basement or garage a major drawback?
For some buyers, yes. It limits storage and utility space. However, this also means zero maintenance for those areas, aligning with a true low-maintenance lifestyle. Secure building storage or a parking pad might be available but are not listed here.
4. What is the Marlton neighbourhood like?
Marlton is a long-established residential area in Winnipeg. Its maturity means developed amenities, mature trees, and stable community character, though specific nearby shops or transit would require further research.
5. Given its age, should I be concerned about major repairs?
The building is nearly 50 years old. While the condo corporation manages exterior and major structural repairs, a prudent buyer should review the corporation's reserve fund study and minutes to understand the building's financial health and any upcoming special assessments.