Property Summary: 368 Oak Street, North River Heights, Winnipeg
Key Characteristics & Appeal
This home is a classic 1929 bungalow on a 4,820 sqft lot in the established North River Heights neighborhood. Its key characteristic is a clear value proposition: you are purchasing a well-located lot and a solid, older home in a desirable area, not square footage. At 932 sqft, the living space is notably smaller than most homes on its street and in the neighborhood, placing it in the bottom 20% for size locally. However, its assessed value of $442,000 is above the Winnipeg city-wide average, indicating that the premium is for the location and land.
The appeal lies in this very balance. It suits a specific buyer: someone seeking entry into a prime neighborhood who is comfortable with a cozy footprint, possibly a first-time buyer, downsizer, or an investor looking for a character property with redevelopment potential. The lot size is roughly average for the area, offering good outdoor space relative to the home's size. A thoughtful perspective is that this property represents the "bones" of the neighborhood—it offers the chance to own a character home with the option to renovate or expand over time, making it a project with a strong foundational location. Its last sale was between $400,000-$450,000 in August 2022.
Frequently Asked Questions
1. Is the house too small for a family?
At under 1,000 sqft, it is compact. It would best suit a small family, a couple, or an individual. The floor plan and potential for future expansion (subject to permits) would be key considerations.
2. Why is the assessed value relatively high for a smaller home?
The value is driven significantly by its location in North River Heights, a sought-after neighborhood with mature amenities, and the value of the land itself. City-wide, this assessment is in the top 30%, highlighting the location premium.
3. What should I know about a house built in 1929?
While offering charm, a home of this age will likely have older systems (plumbing, electrical, heating) and require diligent maintenance or updates. A thorough inspection is essential to understand the condition and potential upgrade costs.
4. How does the lot size compare?
At 4,820 sqft, the lot is slightly below average for Oak Street but typical for North River Heights overall. It provides a good-sized yard, which is a valuable asset in this neighborhood.
5. Where can I get the exact historical sold price?
The provided data shows a sold price range. Due to industry regulations, exact sale figures are not published online here. You can request the precise sold price history via email through this site, and it will be provided manually.