Property Overview
502 Oakview Avenue is a modest, well-situated home in Winnipeg's Rossmere-B neighborhood. Built in 1955, its key appeal lies in its position as a competitively priced entry point into a stable area. The home presents a clear value proposition, with an assessed value ($287K) notably below both the neighborhood and city averages. While its 800 sqft living area is smaller than most comparable homes, it sits on a standard city lot. The data suggests a property that has been maintained and is relatively newer than many on its street. It last sold between 2017 and 2022 for an estimated $150K-$200K, indicating significant potential equity growth since then.
This home would suit first-time buyers or investors seeking an affordable, low-maintenance footprint. Its below-average size and value for the area make it a practical, no-frills option. A thoughtful perspective is that its smaller scale could mean lower utility costs and property taxes, offering a different kind of value beyond the purchase price. It’s a home for someone prioritizing location and financial accessibility over space.
Frequently Asked Questions
1. Is the living area too small?
At 800 sqft, the home is smaller than most in Rossmere-B and across Winnipeg. It's efficient and manageable, ideal for a single person, couple, or small family comfortable with a cozy layout.
2. How does the assessed value affect the likely selling price?
The assessed value of $287K is a municipal valuation for tax purposes, not a market price. However, being below area averages suggests a potentially attractive listing price compared to larger homes nearby, though the final price will be set by the market.
3. What does the sale history tell us?
It last sold for an estimated $150K-$200K around 2017. This indicates the property has likely appreciated, which is positive for a seller. For a buyer, it underscores the home's role as an affordable entry point that has built equity.
4. How does the lot size compare?
The 4,767 sqft lot is fairly typical for the street but below the neighborhood average. It provides adequate outdoor space without being burdensome to maintain, a balance some buyers prefer.
5. Are there any red flags in the data?
No major red flags are apparent. The home is older but newer than many on its block. All metrics are consistent with a smaller, older home in its location. The key consideration is whether the floorplan and condition meet a buyer's needs, which requires a physical viewing.