Property Overview: 568 Seven Oaks Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home in the Jefferson neighbourhood presents a practical and straightforward opportunity. Its key appeal lies in its balance of a generous, above-average lot size (over 5,500 sq ft) and a recently renovated basement, offering valuable extra space. Built in 1953, it is notably newer than many homes on its street and in the immediate area.
The home’s living space is modest at 951 sq ft, which is quite typical for the Jefferson area. This makes it a manageable property, well-suited for first-time homebuyers, downsizers, or investors seeking a lower-maintenance footprint. Its assessed value is consistent with the local market, indicating it is priced in line with neighbourhood norms rather than standing out as unusually high or low.
A thoughtful perspective for potential buyers is the lot itself. The land is significantly larger than many neighbouring properties, which could be a long-term asset for expansion, gardening, or simply enjoying more private outdoor space—a feature that becomes increasingly valuable. The recent sale in 2024 suggests the property is move-in ready, likely appealing to those who want to avoid major immediate projects.
Section 2: Frequently Asked Questions
1. How does this home’s size compare to others nearby?
At 951 sq ft of living area, this home is very typical for the Jefferson neighbourhood, where comparable homes average about 1,029 sq ft. It offers a comfortable, no-frills living space that matches the area's character.
2. What is the significance of the lot size?
The 5,592 sq ft lot is a standout feature. It ranks in the top 11% on Seven Oaks Avenue for land area, offering more yard space than most direct neighbours. This provides more room for outdoor activities, gardening, or future outdoor improvements.
3. The assessed value seems low. Is that accurate for the area?
Yes. The assessed value is aligned with the local market in Jefferson. It’s important to distinguish between municipal assessed value for taxation and current market value. In this area, assessed values in this range are common and reflect the neighbourhood’s pricing.
4. Who would this property suit best?
This home is ideally suited for first-time buyers entering the market, practical downsizers looking for a manageable single-level home with a updated basement, or investors seeking a stable rental property in an established neighbourhood.
5. What does the sale history tell us?
The property sold in August 2024 and previously in August 2016. The 2024 sale price range shows a noticeable increase over the 2016 price, reflecting broader market trends. The recent turnover suggests the current condition may be updated, but prospective buyers should always conduct their own due diligence.