Property Overview: 554 Oakview Avenue, Winnipeg
Key Characteristics & Appeal
This home at 554 Oakview Avenue in Rossmere-B is a practical, mid-century bungalow built in 1955. Its key characteristic is its modest scale, with a living area of 884 sqft that is below the average for the street, neighborhood, and city. This is reflected in its assessed value of $277k, which also sits below local averages. The lot size is fairly typical for the immediate street.
The appeal lies in its position as an affordable entry point into a stable, established neighborhood. For the price, it offers a chance at homeownership with likely lower property taxes and utility costs compared to larger homes. Its 1955 build date is actually newer than many on its street, suggesting potentially updated infrastructure or a simpler renovation timeline than older counterparts.
This property would suit first-time buyers, downsizers, or investors looking for a straightforward, lower-maintenance asset. It’s for those who prioritize financial accessibility and location over square footage, and who may see potential in a home that is smaller and more manageable than its neighbors.
Frequently Asked Questions
1. Is this a "below average" home?
While the living area and assessed value rank below averages in statistical comparisons, this primarily indicates a smaller, more affordable property in its area. It doesn't necessarily reflect the home's condition or livability, but rather positions it as a competitively priced option.
2. What does the sold price history indicate?
The home sold between $250k-$300k in mid-2024, and previously between $200k-$250k in late 2017. This suggests steady market acceptance and a price point that has remained accessible relative to the broader market increases over that period.
3. How does the lot size impact future potential?
At just under 4,800 sqft, the lot is consistent with others on Oakview Avenue. While not oversized, it provides standard outdoor space and is unlikely to limit basic additions or renovations, though any major expansion would require careful planning.
4. Are the nearby comparison properties similar?
The listed nearby homes are generally similar in era (1950s-60s) but most are larger in both living area and assessed value. This reinforces that 554 Oakview is a more compact, value-oriented option within the same desirable pocket of Rossmere-B.
5. How can I verify the exact past sold prices?
The site provides sold price ranges. To obtain the exact historical sale figures, you must request a manual lookup via email, as this data is not sourced from the MLS system.