Property Overview: 495 Oakview Avenue, Winnipeg
Key Characteristics & Appeal
This home at 495 Oakview Avenue is defined by its compact and efficient scale. With a living area of 594 sq ft, it is notably smaller than most homes in Rossmere-B, on its street, and across Winnipeg. Built in 1922, it is also one of the older homes in an area predominantly developed in the mid-1950s. The assessed value of $171k is significantly below area averages, reflecting these characteristics.
Its primary appeal lies in being a true entry-point into the Winnipeg housing market with a very low financial barrier. This isn't a property for those seeking ample space; instead, its value is in affordability and potential. It could suit a first-time buyer comfortable with a cozy footprint, an investor looking for a rental property with lower upfront costs, or someone seeking a minimalist lifestyle without a large mortgage. A less obvious perspective is that a smaller, older home like this on a standard city lot (3,299 sq ft) may present a long-term opportunity for expansion or redevelopment, subject to local regulations, making it a strategic purchase for a buyer with future plans.
Frequently Asked Questions
1. Why is the assessed value so much lower than the neighbors?
The assessed value is based on specific property characteristics. The primary reasons are the home's significantly smaller size (594 sq ft vs. area averages over 1,000 sq ft) and its older age (1922 vs. a neighborhood average circa 1955).
2. What does the "Top 99%" ranking for living area mean?
This statistic means the home's living area is smaller than approximately 99% of comparable homes in its neighborhood. It is a quantitative confirmation that this is a notably compact property relative to its surroundings.
3. How reliable is the listed sold price range of CA$150k–200k?
The sold price data is sourced from public records, not the MLS, and is presented as a broad range for non-registered users. For fully verified and exact historical sale figures, you must request a manual lookup from the site via email.
4. Is this a good investment property?
Given its low assessed value and purchase price, it could offer a lower-cost entry into the rental market. However, its smaller size may limit rental appeal to single occupants or couples, and the age of the home (1922) warrants a thorough inspection for potential maintenance needs.
5. Are the nearby listed properties truly comparable?
The listed nearby properties (e.g., 494 Oakview Ave) are useful for geographic context but are not direct comparables in terms of size or value. They are typically 50-70% larger and have proportionally higher assessed values, highlighting how 495 Oakview Avenue stands apart in the area.