Property Overview: 6 Oakleaf Drive, Winnipeg
Section 1: Key Characteristics & Appeal
This well-situated bi-level home at 6 Oakleaf Drive presents a practical opportunity in the Minnetonka neighbourhood. Its key characteristic is a renovated basement, adding valuable finished living space to the 720 sqft main floor plan. The property sits on a generous 5,397 sqft lot, which is larger than half the lots on its street and ranks within the top 12% for size in the broader neighbourhood, offering good outdoor potential.
The appeal lies in its balance of a solid, updated feature (the basement) with a desirable lot size in an established area. The home’s assessed value has shown steady growth, increasing from $31,800 in 2019 to $38,300 currently. It would suit first-time buyers or downsizers looking for a manageable footprint without sacrificing yard space, or investors seeking a property with a key renovation already completed in a neighbourhood with above-average lot sizes. A thoughtful perspective is that while the living area is compact, the renovated basement and sizable lot provide flexible space that the main floor square footage alone doesn’t capture.
Section 2: Frequently Asked Questions
1. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. A professional inspection is recommended to determine the finish quality, legal compliance, and the nature of the renovations (e.g., cosmetic updates versus structural/mechanical improvements).
2. How does the bi-level style affect living space?
Bi-level homes typically feature living areas split across two main floors, with entry on a landing between them. This can create defined separation between living and sleeping zones. The 720 sqft listed likely refers to the main upper living area, with the renovated basement providing additional functional space.
3. The home sold for $35,500 in 2022 but is now assessed at $38,300. What does this mean?
The assessed value is for municipal tax purposes and reflects the city’s valuation. The 2022 sale price is a historical market transaction. The increase suggests the city views the property’s taxable value as having risen, but the current market price will be determined by buyer competition, condition, and recent comparable sales.
4. The living area is noted as ranking low locally. Is this a concern?
The ranking indicates the main floor living area is compact compared to many area homes. This underscores the importance of the renovated basement and large lot as compensating features. It highlights a trade-off: you gain a larger property footprint and updated space, but the main-level square footage is modest.
5. What is the significance of the lot size ranking?
Ranking in the top 12% for lot size in Minnetonka is a notable strength. It means the property offers more outdoor space, privacy, and potential for gardening, expansion, or additions than most in the neighbourhood, which can be a lasting value driver even if the house itself is smaller.