Property Summary: 266 Oak Forest Crescent
Key Characteristics & Appeal
This is a spacious, modern bungalow situated on an exceptionally large lot in Winnipeg's Assiniboia Downs neighborhood. Built in 2011, the home offers over 2,500 sqft of living space, an attached garage, and a renovated basement. Its standout feature is the land: at nearly 17,640 sqft, the lot size ranks in the top 2% of all properties in Winnipeg, offering rare potential for privacy, gardening, expansion, or future development.
The appeal lies in a combination of contemporary living and significant land value. The home itself is relatively new and above-average in size for its street and area. However, the true value is in the property's scale and rarity within the city. It suits buyers looking for a substantial, move-in ready bungalow, as well as those who prioritize land over an elaborate house. It would be ideal for families desiring ample outdoor space, multigenerational living with a separate basement entrance, or long-term investors who recognize the inherent value of one of Winnipeg's larger residential lots.
Frequently Asked Questions
1. How does the lot size compare to a typical city lot?
This lot is approximately four times the size of a standard 5,000 sqft Winnipeg residential lot, offering an unusually high degree of privacy and space.
2. The assessed value seems low relative to the last sale price and the home's features. Why is that?
Property assessments in Manitoba are based on mass appraisal for taxation purposes and may not fully capture current market premiums for unique features like an extremely large lot or recent renovations. The significant gap between the assessed value and the last sale price suggests the market highly values these attributes.
3. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. A buyer should verify its compliance with local zoning and building codes if considering rental income or a separate living area.
4. What does the "Top %" ranking for the neighborhood and city mean?
These rankings compare this property against others in the area. For example, its lot size ranks in the top 2% in Winnipeg, meaning 98% of properties have smaller lots. This quantifies its standout features within the broader market.
5. The home was last sold in 2020. What should I consider?
A sale four years ago indicates a relatively recent turnover. It’s worthwhile to investigate what renovations were completed by the current owners and to understand their reason for selling, as this can provide context for the property's condition and the neighborhood's stability.