Property Overview
362 Oakview Avenue is a 716 sqft home in Winnipeg's Rossmere-B neighborhood, built in 1920 on a roughly 4,784 sqft lot. Its assessed value is $268k. Compared to nearby homes, it is notably smaller and older than most in the area, but its lot size is close to the street average. It last sold between $200k-$250k in July 2020.
Key Characteristics & Appeal
This home presents a clear value proposition centered on affordability and lot potential. Its appeal lies in its price point, which sits below area averages, offering an entry into a stable neighborhood. The lot is a key asset—its size is consistent with others on the street, providing valuable outdoor space or future expansion potential that many newer, denser developments lack.
It would best suit a pragmatic, hands-on buyer. This could be a first-time purchaser comfortable with a smaller, character-home footprint, or an investor looking for a property with a solid land-to-structure ratio. It’s less suited for those seeking modern, move-in-ready spaces or ample square footage without renovation.
A thoughtful perspective is that its older vintage and smaller size, while statistically "below average," can translate to lower utility costs and property taxes, aligning with a minimalist or efficiency-focused lifestyle. Its price also allows financial breathing room for personalized updates.
Frequently Asked Questions
1. Is the price fair given the home's size?
Yes, the asking price reflects the home's smaller living area and older age. The assessed value of $268k is below the neighborhood average, positioning it as a more affordable option in Rossmere-B.
2. What are the implications of the 1920 build date?
While offering classic character, it necessitates a thorough inspection for aging components like wiring, plumbing, and the foundation. Budgeting for maintenance or updates should be part of the plan.
3. Can the home be expanded?
The lot size is a positive feature, typical for the street. This could allow for an addition or garden suite in the future, subject to local zoning and permit approvals, making it a property with "value-add" potential.
4. How does the 2020 sale price relate to today's value?
The home sold for between $200k and $250k in mid-2020. The current assessed value suggests appreciation since then, in line with broader market trends. For exact historical sold prices, a manual lookup can be requested.
5. What's the neighborhood like for a home of this size?
Rossmere-B consists mostly of larger, newer homes. This means you're buying into a well-established area, though your home will be one of the more compact properties on the block, which can be an advantage for lower maintenance.