Property Overview: 716 Oakdale Drive
This well-situated family home in Winnipeg’s Eric Coy neighbourhood presents a compelling opportunity. Built in 1970, it is a classic one-storey bungalow with a fully finished basement and an attached garage. Its most defining feature is the generous, approximately 10,800 sqft lot, which offers significant outdoor space—a rarity that places it in the top 5% of all Winnipeg properties for land size. With a total living area of 903 sqft and a municipal assessment of $426,000, it sits above average for its immediate area in terms of value.
The appeal here is grounded in space and potential. The large lot is a blank canvas for gardening, play, or expansion, offering a sense of privacy and room to breathe that is increasingly hard to find. The home itself, with its finished basement, provides flexible living space. It would suit first-time buyers looking for a starter home with a yard that grows with their family, or practical downsizers who want single-level living without sacrificing outdoor space. It’s a property for those who see value in land and are comfortable with a home that may benefit from personal updates over time.
Frequently Asked Questions
1. How does the large lot impact property taxes?
While the lot size is a significant asset, municipal assessments and property taxes are based on a combination of land value, building value, and location. The current assessment of $426,000 reflects its overall market valuation, which is influenced by the desirable lot.
2. Is the 903 sqft living area sufficient for a family?
The main floor living space is modest, but the fully finished basement effectively doubles the usable area, creating room for additional bedrooms, a family room, or a home office. The layout and how the basement is configured will be key.
3. What is the neighbourhood like?
Eric Coy is an established, mature community. The rankings show the property is very typical for the area in terms of age and building size, but stands out for its larger lot. It offers a stable, residential setting.
4. Are there any concerns with a home built in 1970?
As with any home of this age, the condition of major systems (roof, windows, plumbing, electrical) and potential for materials like asbestos or lead paint should be evaluated during a professional inspection. Its recent ranking for age is mid-range, indicating many similar-era homes exist in the area.
5. What does the "top 5% for land size in Winnipeg" ranking actually mean?
This statistical ranking is a powerful indicator of scarcity. It means that 95% of residential properties in Winnipeg sit on smaller lots. This is the property's most competitive, long-term advantage, contributing to both livability and future value.