Property Summary: 20-403 Oakdale Drive
Key Characteristics & Appeal
This is a compact, 676 sqft condominium in the Marlton area, built in 1977. Its primary appeal lies in its exceptional value and competitive positioning within its immediate area. While modest in size and age, the unit ranks in the top tier for its street, neighborhood, and all of Winnipeg when compared on price and value metrics, placing in the 99th-100th percentile. This indicates it is one of the most affordably priced properties in the broader market. The 2021 sale at $139,000, very close to its current $140,000 assessment, suggests stable value.
The unit would suit first-time buyers seeking an entry point into homeownership with minimal financial exposure, or investors looking for a low-cost rental property with strong fundamentals for tenant demand. Its small footprint also appeals to those looking to downsize or maintain a minimalist, low-maintenance lifestyle. A less obvious perspective is its potential as a "foot-in-the-door" property in a well-established neighborhood, allowing an owner to build equity while benefiting from the area's amenities without the burden of a large mortgage or exterior maintenance (as typical of condo living).
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings show how this property compares to others in its immediate street, neighborhood, and city. For price and value, it ranks in the top 1%, meaning it is more affordable than nearly all other listed properties. For size and age, its ranking is lower, confirming it is a smaller, older unit.
2. Is there a garage or basement?
No. The listing specifies there is no garage and no basement.
3. What are the monthly condo fees, and what do they cover?
This information is not provided in the supplied details. This is a critical question to ask the listing agent or property manager, as fees directly impact the total monthly cost.
4. Why is it ranked so highly for value despite its smaller size?
The rankings are based on the assessed and last sold price. Its high ranking reflects that it is priced significantly lower than the vast majority of properties in Winnipeg, making its cost-per-square-foot very competitive, even though the total square footage is modest.
5. The building is from 1977. Should I be concerned about major repairs?
While the building is nearly 50 years old, the condo corporation is responsible for the building's structure and common elements. It is essential to review the condo's reserve fund study and minutes from recent meetings to understand the financial health of the corporation and any planned major projects or special assessments.