Property Overview
This 1963-built, single-story home at 315 Oakdale Drive in Winnipeg's Marlton area presents a compelling opportunity defined by its exceptional lot size and solid value. Its primary appeal lies in the rare combination of a very large, private yard (over half an acre) within a city neighborhood, paired with a modestly sized, functional home. The property is move-in ready with a finished basement and an attached garage.
The home would best suit buyers who prioritize expansive outdoor space over a large interior footprint. It's ideal for those seeking privacy, room for gardening, children or pets to play, or future expansion, without moving to a rural area. It also appeals to value-conscious buyers looking for a property with land, where the lot itself represents a significant portion of the asset's value and long-term potential. The recent sale above the assessed value suggests a strong market recognition of this potential.
Key Details & Considerations
- Land & Scale: The 24,732 sqft lot is the standout feature, ranking in the top 1% for size across Winnipeg. This offers unparalleled privacy and possibilities for its urban setting.
- Home & Condition: A 1,014 sqft bungalow with a finished basement. Its rankings for size and age are average for the area, indicating a well-maintained but not recently renovated character home.
- Value & Market: The current assessment is $434,000. Its 2023 sale price of $477,000, which ranks in the top 21% citywide, indicates buyers are willing to pay a premium for this property type, likely due to the lot.
Frequently Asked Questions
1. What does the lot size actually feel like?
At nearly 25,000 square feet, the lot is over five times the size of a standard city lot. It provides a rare sense of openness and seclusion in a neighborhood setting, more akin to a park-like setting than a typical backyard.
2. Is the house too small for the property?
The 1,014 sqft home is modest relative to the land. This is perfect for buyers who live an indoor-outdoor lifestyle or who see the land itself as the primary asset. For those needing more interior space, the finished basement adds functional living area and the large lot could allow for an addition (subject to permits).
3. The house was built in 1963. What should I be aware of?
While the home is well-maintained, a buyer should expect systems and components (like the roof, windows, plumbing, and electrical) typical of its age. Its average ranking for age in the area suggests it's in line with neighboring homes. A thorough inspection is recommended to understand the condition and any upcoming maintenance.
4. Why did it sell for significantly above its assessed value in 2023?
Property assessments are for taxation and reflect a mass appraisal system. The sale price reflects what a specific buyer in the open market was willing to pay for the unique combination of a massive, private lot with a liveable home. This premium highlights the high market value placed on land in established neighborhoods.
5. What is the Marlton neighborhood like?
Marlton is a mature, established community in Winnipeg. The property's high rankings for lot size, value, and past sale price within the neighborhood itself indicate it is considered one of the more desirable properties in the area, likely known for its larger lot sizes and quiet streets.