Property Overview: 315 Seven Oaks Avenue, Winnipeg
Key Characteristics & Buyer Profile
This one-storey home in Jefferson presents a practical opportunity centered on its lot and location. Built in 1924, the 856 sqft living space is modest and below average for the immediate area, suggesting a cozy, manageable layout. Its key standout is the 4,999 sqft land area, which is notably larger than many lots on Seven Oaks Avenue, offering valuable outdoor space and potential. The home features a renovated basement and a detached garage.
The appeal lies in its affordability and the balance of a smaller, updated living space on a generous lot. It suits first-time buyers or practical downsizers looking for a lower-maintenance home without sacrificing yard space. It also appeals to value-oriented investors or buyers who see potential in the land itself, viewing the existing structure as a solid foundation for future expansion or gradual improvement. The property offers a chance to enter the market with a focus on the long-term asset of the land rather than immediate square footage.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local regulations if considering rental income.
2. How does the assessed value relate to the expected selling price?
The assessed value is significantly lower than typical city-wide home prices. In Winnipeg, assessed value for tax purposes often differs from market value. The recent sold price history (April 2023) in the $25.5k-$28.5k range is a more relevant benchmark, but current market conditions will determine the final price.
3. What are the implications of the home's age (102 years)?
While the renovated basement indicates some updates, a home of this age will likely have older core systems (plumbing, electrical, roof). A thorough inspection is essential to understand the condition and any needed major repairs.
4. The lot is larger than average for the street. What does that mean for me?
This provides more private outdoor space, room for gardening, storage, or recreation. It also may offer future potential, subject to zoning bylaws, for additions like a larger garage, a deck, or even an expansion of the home itself.
5. Where can I find the exact historical sold prices?
The exact sold prices are not publicly displayed in detail. As noted on the listing, you must request this information directly via email from the service, which provides the precise figures manually.