Property Overview: 582 Oxford Street, Central River Heights, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1951, sits on a generous 5,518 sqft lot in the established Central River Heights neighbourhood. With 1,404 sqft of living space, it offers a comfortable footprint that is quite typical for the area. The property includes a detached garage and a basement that is noted as unrenovated, presenting a clear opportunity for customization.
Its primary appeal lies in its solid location and the value represented by its land. The lot size is above average for the city and typical for the neighbourhood, offering good outdoor space and potential. The home’s assessed value sits below the average for its immediate street and area, which could signal a more accessible entry point into a desirable location. This is a property for a practical buyer—perhaps a first-time homeowner willing to take on cosmetic updates, or an investor looking for a land-value play in a stable area. It suits someone who values location and lot size over modern, turn-key finishes, and who sees potential in a home that may require some personalization or phased renovations.
Frequently Asked Questions
1. Is the basement finished?
No, the basement is noted as not being renovated. This should be factored into planning and budget, as finishing it would be a future project.
2. How does the property compare to others in the area?
The data shows the home is quite average in terms of living and land area for Central River Heights. Its standout point is its assessed value, which is below the local average, potentially indicating a value opportunity relative to its neighbours.
3. What is the significance of the lot size?
At 5,518 sqft, the lot is larger than the Winnipeg city average. This is a key asset, offering more private outdoor space than many properties and potential for additions or landscaping.
4. The home sold recently in 2023. What does that mean?
The sale in September 2023 for $431,000 provides a very recent market price benchmark, which is crucial for understanding current value. It suggests the property has changed hands recently, so any updates or changes since then should be confirmed.
5. What type of maintenance should I anticipate for a home of this age?
Built in 1951, prospective buyers should budget for and prioritize inspections of major aging components, such as the roof, plumbing, electrical systems, and the foundation, which are common focal points for homes of this vintage.