Property Summary: 362 Oakdale Drive, Winnipeg
Key Characteristics & Appeal
This is a spacious, well-established property in the Marlton area, defined by its exceptionally large lot of over 26,000 square feet—a rarity that places it in the top 1% of all Winnipeg properties for land size. The home itself is a 1,678 sqft, single-storey bungalow built in 1979, featuring an attached garage and an unfinished basement. Its appeal lies in a unique combination of generous outdoor space and solid, move-in-ready fundamentals. The recent sale in June 2024 for $529,000, above its assessed value, indicates strong market recognition.
This home would best suit buyers who prioritize land over lavish finishes. It’s ideal for those seeking privacy, room for gardens, children or pets to play, or future expansion. The unfinished basement presents a clear opportunity for customization to add significant value. While the home is not new, its competitive rankings for size, value, and recent sale price within its street, neighborhood, and city suggest it’s a high-performing asset in its category—offering a grounded, long-term investment in a quiet neighborhood rather than a luxury showcase.
Frequently Asked Questions
1. What does the "top 1%" ranking for land size actually mean?
It means this property's lot is larger than 99% of all residential properties in Winnipeg, offering an unusual degree of outdoor space for the city.
2. The home was built in 1979. Should I be concerned about major repairs?
While the core structure is nearly 50 years old, the strong recent sale price suggests the major systems were acceptable to a recent buyer. A thorough inspection is always advised to understand the condition of the roof, windows, and mechanical systems, and to plan for any updates.
3. Who would the unfinished basement benefit most?
It's a key asset for a buyer who wants to customize the space to their specific needs—whether for a recreation room, home office, or additional bedrooms—without paying a premium for someone else's finished work.
4. The sale price was higher than the assessed value. Is that a red flag?
Not typically. Municipal assessments for tax purposes often lag behind the current market. The sale price is a more accurate reflection of the property's market value as of mid-2024.
5. Is this a good "investment" property?
Its primary appeal is as a long-term family home. The investment potential lies in the land value and the opportunity to increase the home's worth through finishing the basement or other strategic updates, rather than in immediate rental income.