Property Summary: 708 Oakdale Drive, Winnipeg
Section 1: Overview & Appeal
This well-situated one-storey home in the Eric Coy neighborhood presents a compelling opportunity, particularly for its generous 10,896 sqft lot—a size that ranks in the top 5% of all properties in Winnipeg. The home itself, built in 1971, offers 1,025 sqft of living space with a finished basement and a split garage. Its key appeal lies in the balance between a manageable, single-level floorplan and the significant potential of its large, private yard. While the interior square footage is modest relative to the neighborhood, the property’s overall value is anchored by its land.
This property would suit buyers looking for a long-term home with room to grow outdoors, whether for gardening, recreation, or future expansion. It’s also a sensible fit for those seeking to downsize from a larger home but who are not willing to compromise on yard space. A thoughtful perspective is that the home’s ranking—strong in lot size but more moderate in living area and age—suggests a property where the land is the primary appreciating asset, offering a different kind of value than a newer, larger house on a standard lot.
Section 2: Key Questions (FAQs)
1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in Eric Coy, and across all of Winnipeg. For example, its lot size surpasses 95% of Winnipeg properties, making it exceptionally large. Meanwhile, its living area is more common, surpassing only 32% of city homes.
2. Is the house in need of major updates?
Built in 1971, the home is 55 years old. While it has a finished basement, buyers should budget for age-related maintenance and potential updates to mechanical systems, windows, or interior finishes to align with modern standards.
3. How does the lot size impact value and utility?
The nearly quarter-acre lot is the standout feature. It provides ample space for additions like a shed, deck, or garden, and offers a rare level of privacy and room in the city. This significantly influences the property's assessed value and future resale potential.
4. Who is the typical buyer in this area?
Eric Coy attracts a mix of long-term residents, families, and downsizers. Given this home’s specific layout and lot, it may particularly appeal to empty-nesters seeking single-level living without sacrificing outdoor space, or to buyers who view the land itself as a long-term asset.
5. How does the assessment value relate to the listing price?
The municipal assessment for tax purposes is $383,000. It’s important to note that this is not a market valuation but a benchmark. The actual listing price will be determined by current market conditions, the property’s unique features, and recent comparable sales.