53 Oak Street – Property Summary

Key Characteristics & Buyer Profile

This is a 1941 home with 2,532 square feet of living space on a 9,010-square-foot lot, assessed at $941,000. What stands out is how the property performs differently depending on the comparison:

• Living area is top 10% on Oak Street and top 3% citywide. It’s genuinely spacious by Winnipeg standards, but only around average for the Wellington Crescent neighbourhood, where homes tend to be larger.
• Land area is elite on the street (top 4%) and above average citywide, but again just average for Wellington Crescent. You get a generous lot for the immediate area, but not an unusually large one for the broader neighbourhood.
• Assessed value is top 5% on the street and top 1% citywide. The $941,000 figure reflects strong demand relative to the immediate context, but remains above average rather than exceptional within Wellington Crescent (top 25%).
• Year built is roughly typical for the neighbourhood (built 1941, average on the street is 1945) but older than most homes citywide. This is a character-era house, not a new build.

The appeal lies in scale and value relative to the street and city, without being oversized for the neighbourhood. The lot is large enough for privacy and outdoor space, while the house itself offers substantial square footage—useful for a family that wants room to spread out without moving into a newer, larger home.

Best suited for: Buyers who prioritize generous living space and a good-sized lot in a well-established neighbourhood, value older construction and character, and are comfortable with a price point that is high for the street but reasonable for the area. Less suited for someone seeking a turnkey new build or a property that stands out within Wellington Crescent itself.

Frequently Asked Questions

1. How does this home compare to others on Oak Street specifically?
It ranks in the top 5% for assessed value and top 4% for land area. Living area is top 10%. It’s one of the larger, more valuable properties on the street, though the age is about average.

2. Is the $941,000 assessment close to market value?
The assessment is a government valuation, not a market price. On Oak Street, the average assessment is $548,400, so this property is well above that. In Wellington Crescent, the average is $805,600, so it’s above neighbourhood average but within range. Your realtor can provide comparable sales data.

3. What condition should I expect from a 1941 home?
The year built is typical for the area (neighbourhood average is 1940), but older than most homes in Winnipeg (citywide average is 1966). Expect original construction materials and likely some updates over the decades. A thorough inspection is important—especially for electrical, plumbing, insulation, and foundation.

4. How does the lot size compare to typical Winnipeg lots?
Citywide, the average lot is 6,570 sqft; this one is 9,010 sqft, placing it in the top 8%. On Oak Street, it’s top 4%. The lot is generous by most standards, though within Wellington Crescent it’s closer to average.

5. What’s the difference between the street, neighbourhood, and citywide rankings?
Each ranking compares this property to similar homes within that boundary. The street-level comparison (Oak Street) is the most local. The neighbourhood level (Wellington Crescent) includes more homes and a broader character. Citywide ranks it against all comparable properties in Winnipeg. A property can be elite in one scope and average in another—it depends on the peer group.