Property Overview: 320 Oak Street, North River Heights, Winnipeg
Section 1: Key Characteristics & Appeal
This home is defined by its contrasts. Built in 1929, it is a character property in a mature, established neighbourhood. Its key characteristic is its compact 821 sqft living area, which is notably smaller than most homes on its street and in the wider area. However, this is balanced by a reasonably sized 4,821 sqft lot and an assessed value of $428k, which sits around the average for North River Heights but above the Winnipeg citywide average.
The appeal lies in a unique value proposition. It offers entry into a desirable neighbourhood at a price point driven by the home's scale, not its location. It suits a specific buyer: perhaps a minimalist, a first-time buyer prioritizing location over space, or an investor looking for a character rental. It’s not for those needing ample indoor square footage, but for those who value outdoor space and neighbourhood charm, the lot size and vintage offer solid potential. The data suggests you're paying for the land and the area, with the existing home representing a renovation or redevelopment opportunity down the line.
Section 2: Frequently Asked Questions
1. Why is the living area so much smaller than neighbouring homes?
As a 1929 build, this home reflects the modest scales of its era. Many neighbouring properties have likely been expanded or rebuilt over time, explaining the significant difference in average living area on Oak Street.
2. How can the assessed value be around the neighbourhood average when the house is much smaller?
Property assessment considers multiple factors, including land value, location, and the building itself. The data indicates that the value of the lot and its placement in North River Heights contributes significantly to the assessment, offsetting the smaller building size.
3. What does the sold price history indicate?
The property last sold between $400k-$450k in October 2021. This past sale price aligns closely with the current assessed value, suggesting a stable market valuation for this specific type of compact character home in the area.
4. Is this a candidate for a major expansion or rebuild?
The combination of a smaller, older home on a near-average-sized lot in a sought-after neighbourhood often makes it a prime candidate for renovation or redevelopment, subject to local zoning and heritage regulations.
5. How reliable is this sold price data?
The provided sold price is based on publicly available data, not the MLS. For fully verified transaction history and exact sale figures, you must request a manual lookup from the site, which they provide via email.