395 Oxford Street

Property Overview: 395 Oxford Street, North River Heights, Winnipeg

Key Characteristics & Appeal

This home at 395 Oxford Street is a classic North River Heights property, built in 1943 on a generous 4,808 sqft lot. Its key characteristic is a compact, efficient living space of 987 sqft, which is notably smaller than many area homes but sits on a lot that is very typical for the neighbourhood. This creates an interesting value proposition: you are investing significantly in the land and location, with a house that may require modernization but offers solid fundamentals.

The appeal lies in its established, sought-after location and its relative value within the wider city. While the living area is below average for North River Heights, its assessed value of $453k is above the Winnipeg city-wide average, highlighting the premium for this mature neighbourhood. This property would suit a practical buyer who values location over sheer interior size—perhaps a first-time buyer looking to enter a stable area, someone interested in a long-term property with renovation potential, or an investor attracted by the enduring value of a well-located lot. It represents an opportunity to own a character home in a prime area without the price tag of a larger, fully updated property.

Frequently Asked Questions

1. Is the house in need of major updates?
Given its age (1943), buyers should budget for updates to major systems like plumbing, electrical, or the roof. The interior layout and finishes are likely dated, presenting both a project and an opportunity to customize.

2. How does the property’s value compare to recent sales?
The home sold between $350k-$400k in mid-2021. Its current assessed value of $453k is around the neighbourhood average, suggesting steady appreciation. For exact historical sale figures, a manual lookup can be requested.

3. The living area seems small. Is there room to expand?
The 987 sqft footprint is compact, but the nearly 5,000 sqft lot provides a significant opportunity for a future addition or renovation, subject to local zoning and permit approvals.

4. What are the immediate neighbours like?
The nearby properties on Oxford Street are a mix of similar vintage homes, with a wide range of sizes and conditions. A new, large home at 444 Waverley Street (built 2021) is also noted nearby, indicating the area's appeal for redevelopment.

5. Why is the assessed value above the city average when the house is smaller?
This reflects the strong desirability and land value of the North River Heights neighbourhood. You are paying a premium for the location, lot size, and community, which consistently outperform many other areas of Winnipeg.