Property Overview & Key Characteristics
This two-storey home on Oxford Street in Central River Heights is a classic Winnipeg property with practical updates and a established neighbourhood feel. Its key appeal lies in its balance of a renovated basement, a detached garage, and a decently-sized lot in a central, mature area. The home itself, built in 1951, offers a functional living space of just over 1,140 sqft. While the house is modest in size compared to some on the street, the nearly 4,800 sqft lot provides valuable outdoor space and potential. The data suggests a property that is financially accessible for the area, with an assessed value that sits comfortably below the street average but above the city-wide average, indicating a solid investment in a desirable location.
This home would suit a first-time buyer or a downsizer looking for a low-maintenance footprint without sacrificing a prime location. It’s also a practical fit for an investor seeking a character property in a stable neighbourhood with rental demand. The renovated basement adds immediate functional living space, a key advantage over many homes of this vintage. A thoughtful perspective is that while the living area is average, the lot size—though below the neighbourhood average—still offers a rare commodity in central areas: private outdoor space with room to breathe, garden, or entertain.
Frequently Asked Questions
1. How does the lot size compare to others in the area?
The property’s land area of 4,798 sqft is below the average for Central River Heights (approx. 5,581 sqft) and for Oxford Street itself (approx. 5,699 sqft). However, it remains a generous city lot by wider Winnipeg standards and offers ample backyard space.
2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. This would be a key point for a home inspection to determine the quality of the renovation, ceiling height, moisture control, and whether it includes a legal suite or additional living space.
3. Is the assessed value a reliable indicator of the likely sale price?
The home last sold in July 2020 for $37,800 and is now assessed at $45,800. In a dynamic market, the assessed value is a benchmark for municipal taxes, not a guaranteed sale price. The final price will be determined by current market conditions, the home’s interior condition, and buyer demand.
4. What are the implications of the home's age (built in 1951)?
A home of this age offers classic character but warrants careful attention to major systems. Prospective buyers should prioritize checks on the roof, wiring, plumbing, and foundation. The positive trade-off is often better construction materials and a more established streetscape than newer subdivisions.
5. How does this property rank for value in the neighbourhood?
The data shows its assessed value ranks in the top 34% for Central River Heights, meaning it’s assessed higher than many area homes. This suggests it is viewed as a solid property within the neighbourhood, but it also means property taxes will be aligned with that assessment.