Property Overview & Key Characteristics
702 Oxford Street is a well-situated, one-storey home in Central River Heights built in 1953. Its key appeal lies in its balance of a mature, established neighbourhood with a home that has seen significant updates. The renovated basement adds valuable finished living space to the 1,351 sqft main floor. The lot size of 4,799 sqft is very typical for the street and area, offering a standard urban yard.
The home’s data reveals some thoughtful perspectives. While the house itself is of average size for Winnipeg, it is newer than many in its immediate vicinity, potentially suggesting fewer issues with very old infrastructure. The assessed value is notably lower than many neighbours, which could indicate a different valuation approach or present an opportunity. Its recent sale price, however, sits around the average for the area, reflecting its market-ready condition. The detached garage is a practical asset for storage or vehicle protection.
This property would suit a buyer looking for a move-in-ready home in a central, walkable neighbourhood without the footprint of a larger two-storey. It’s ideal for small families, downsizers, or first-time buyers who value a renovated space over a massive lot or a brand-new build.
Frequently Asked Questions
Is the renovated basement included in the living area square footage?
No. The listed living area of 1,351 sqft refers to the main floor. The renovated basement provides additional, separate finished space.
How does the assessed value compare to the recent sale price?
The home sold for $410,000, which is significantly higher than its $38,200 assessed value. This is common, as assessed values for tax purposes often lag behind current market values, especially following renovations.
What does the "newer than average" year built mean for this home?
Built in 1953, it is newer than many homes on Oxford Street and in Central River Heights. This can be an advantage, as systems like wiring or plumbing may be from a later standard, though a home inspection is still essential.
Is the lot size a pro or a con?
It’s neutral. At just under 5,000 sqft, the lot is very standard for the area—neither exceptionally large nor unusually small. It provides a typical city yard for gardening or recreation without extensive maintenance.
Who might this home not suit?
Buyers seeking a very large or modern open-concept layout may find the one-storey, 1950s footprint less appealing. Those prioritizing a massive private yard or an attached garage may also want to consider other options.