Property Summary: 487 Seven Oaks Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1950, situated on a standard city lot in the Jefferson neighbourhood. Its key characteristic is its modest scale, with a living area of 672 sqft that is notably smaller than most comparable homes in the area, city, and on its own street. This is balanced by a recently renovated basement, adding functional space, and a detached garage.
The primary appeal lies in its affordability and efficiency. With an assessed value that is average for Jefferson and Seven Oaks Avenue but below the citywide average, it represents a lower barrier to entry into the housing market. It suits first-time buyers, downsizers, or investors seeking a straightforward, manageable property. The renovated basement adds value and flexibility, potentially serving as a rental suite (subject to zoning and licensing) or additional living space. A thoughtful perspective is that its smaller size translates to lower utility costs and less maintenance, offering a simpler, more sustainable lifestyle. It’s a practical choice for those who prioritize financial efficiency and function over square footage.
Section 2: Frequently Asked Questions
1. Is the house unusually small?
Yes. At 672 sqft, the above-ground living area is significantly smaller than the average home in Jefferson (~1,029 sqft), on Seven Oaks Avenue (~1,123 sqft), and across Winnipeg (~1,342 sqft). The renovated basement provides crucial additional space.
2. What is the property’s assessed value, and how does it compare?
The assessed value is $28,900. This is very typical for the immediate street and the Jefferson neighbourhood, where averages are $28,700 and $28,300 respectively. It is, however, below the average assessed value for the entire city.
3. When was it last sold and for roughly how much?
The home was sold in July 2019. Based on available public data, the sale price was in the range of $18,500 to $21,500.
4. What is the lot size?
The land area is 3,750 sqft. This is below the average lot size for the street, neighbourhood, and city, but is a standard dimension for the area.
5. How can I find out the exact historical sale price?
The listing service provides an estimated sold price range from public data. They offer to manually share the exact sale price via email upon request, at no cost and without using your email for unsolicited marketing.