Property Overview: 567 Oak Street, Central River Heights, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 1951, sits on a generous 4,823 sqft lot in the established Central River Heights neighbourhood. Its key features include a renovated basement and a detached garage. With 1,408 sqft of living space, the house offers a comfortable footprint that is notably above average for the immediate neighbourhood.
The primary appeal lies in its balance of location, lot size, and recent updates. The renovated basement adds modern, functional space, while the large lot provides room for gardening, play, or expansion. Its assessed value is positioned below average for Oak Street itself, which could indicate value relative to its direct peers. This property would suit a buyer looking for a character home in a prime area without a premium price tag, who values outdoor space and is perhaps more interested in the potential of the lot and the renovated basement than in having the largest house on the block. It’s a practical choice for those who want to be in a sought-after community but may prioritize other investments over a brand-new or maximized living area.
Frequently Asked Questions
1. How does the lot size compare to others in the area?
The land area of 4,823 sqft is above average for Central River Heights, offering more outdoor space than many nearby properties, though it is around the average size for lots on Oak Street itself.
2. Is the house newer or older than most in the neighbourhood?
Built in 1951, the home is slightly newer than the average house on Oak Street but is generally aligned with the vintage of homes in Central River Heights.
3. What does the "below average" assessed value for Oak Street indicate?
This suggests the city’s assessment for this home is lower than the average assessment for other properties on Oak Street. This doesn’t directly predict sale price, but it can sometimes point to relative value within the most immediate comparison group.
4. Has the property value increased?
Based on the provided sale history, the home sold for $400,000 in 2017 and $470,000 in 2023, indicating appreciation over that six-year period.
5. How does the living space compare?
At 1,408 sqft, the living area is larger than the average home in both Central River Heights and Winnipeg overall, but is somewhat smaller than the average for houses specifically on Oak Street. This highlights a home with efficient, above-average interior space on a desirable lot.