54 Royal Oak Drive – Property Summary
Key Characteristics & Ideal Buyer Profile
This 1,260 sqft home, built in 1994, sits on a 5,377 sqft lot in Whyte Ridge. Its assessed value of $463,000 places it close to the average for homes on Royal Oak Drive, but noticeably below the average for the broader Whyte Ridge neighborhood ($529,600). Citywide, however, the property’s assessed value stands well above the median, and its year built is significantly newer than the city average of 1966.
The home’s main appeal is stability and context. It is not the largest or most valuable home on its street or in its neighborhood—it ranks in the top 40% for living area on Royal Oak Drive, and near the bottom of Whyte Ridge for assessed value. This means it offers an entry point into a desirable, established neighborhood without paying a premium for top-tier finishes or square footage. The lot size is also modest compared to the neighborhood average, which keeps the total cost more accessible.
This property would suit buyers who prioritize location and community over raw space or prestige. It is a good fit for a first-time homebuyer looking to get into Whyte Ridge, or for someone downsizing who still wants a single-family home with a manageable yard. It may also appeal to an investor or homeowner who sees potential for gradual value growth as the area ages, given that the home itself is newer than most citywide stock.
Five Possible FAQs
1. How does this home compare to others on Royal Oak Drive?
It is roughly average for the street in living area (1,260 vs. 1,257 sqft average) and assessed value ($463K vs. $460.7K average). It ranks #17 out of 43 homes for living area and #16 for assessed value, placing it right around the middle of the street.
2. Is this property smaller than most homes in Whyte Ridge?
Yes, both the living area and land area are below the neighborhood averages. The living area is about 25% smaller than the neighborhood median (1,666 sqft), and the lot is about 13% smaller than the average (6,175 sqft). This is reflected in the assessed value, which is about 13% below the neighborhood average.
3. How does the 1994 construction date compare to other homes in Winnipeg?
The home is much newer than the typical Winnipeg home. Citywide, it ranks in the top 20% by year built, with the average city home dating to 1966. In Whyte Ridge, it is right around the neighborhood average of 1994.
4. Does a lower assessed value relative to the neighborhood mean the property might be undervalued?
Not necessarily. The lower value is consistent with the smaller living area and lot. However, it does mean the property is priced to reflect its size, not a premium for the neighborhood. For buyers seeking a foothold in Whyte Ridge, this can be seen as a practical value rather than a hidden bargain.
5. How was the assessed value determined?
The assessment is based on comparable home sales and property characteristics as determined by the municipality. It is not a market price, but a benchmark used for taxation. The data shown compares this home to others on the same street, within Whyte Ridge, and across Winnipeg, using a median-based “average” for each group.