Property Overview: 309 Oxford Street, North River Heights, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This home at 309 Oxford Street is a study in contrasts, offering a blend of historic charm and above-average space. Built in 1913, it is notably older than most homes in its immediate area and across Winnipeg. This characteristic suggests a buyer should appreciate classic architecture and be prepared for the maintenance or updates that can come with a century-old structure.
The primary appeal lies in its generous 2,500 sqft of living area, which ranks within the top 6% of homes in the desirable North River Heights neighborhood and the top 3% city-wide. This means you are getting significantly more interior space than typical Winnipeg homes, all situated on a standard-sized lot. The assessed value of $501k is above the city average but aligns closely with averages for North River Heights, indicating you are paying for location and space rather than an inflated premium.
This property would best suit a buyer who values spacious interiors over a modern build date. It’s ideal for someone looking for a character home with room to grow in a well-established neighborhood, and who approaches the purchase with eyes open to the potential needs of an older home. It represents an opportunity to own a larger-than-average footprint in a prime area, where the value is in the livable space and location rather than a new construction.
Frequently Asked Questions
1. How does the age of the home (1913) affect its value and condition?
While the age places it among the older homes in the area, the assessed value remains strong, indicating the lot location and living area size are significant value drivers. Prospective buyers should prioritize a thorough inspection to understand the condition of major systems like plumbing, electrical, and the foundation, which may have been updated over time.
2. The living area is large, but the lot size is average. What does this mean?
This typically indicates the home has a substantial footprint or multiple stories, making efficient use of its parcel. It offers ample indoor space without the extensive yard maintenance of a larger lot, which can be a practical balance for many.
3. The home sold in 2017. What can that price tell me?
The sold price from 2017 fell within the $450k-$500k range. Comparing this to the current $501k assessment suggests stable value appreciation in line with market trends. For exact historical sale figures, you can request a manual lookup from the site.
4. Is the assessed value a reliable indicator of market price?
The assessed value is for municipal tax purposes and is a strong benchmark, but not a guaranteed sale price. It is notably above the Winnipeg average but consistent with North River Heights, reflecting the neighborhood premium. Market conditions, specific home features, and updates will ultimately determine the listing price.
5. What are the less obvious considerations with this property?
Consider the "why" behind the numbers: the home’s elite ranking for space but lower ranking for age suggests its value is heavily tied to its usable square footage. Future resale may appeal to a similar buyer profile—one prioritizing space over newness. Also, check the neighborhood analysis for insights on surrounding properties, as the mix of ages and values on Oxford Street itself appears varied.