Property Overview & Key Characteristics
This 884 sqft home, built in 1977, is a competitively priced entry point into Winnipeg's Marlton neighbourhood. Its core appeal lies in solid value within a well-established community. The property shows consistent appreciation, with its recent sale price exceeding its assessed value. While the home itself is modest in size and age, its standout feature is its exceptional relative standing within its immediate area—it ranks in the top 1% of its street and top 0% of its community for lot size, suggesting a potentially larger or more private parcel than most nearby homes. This creates an appealing scenario of a home with unassuming specs on what is likely a desirable piece of land.
The property would suit first-time buyers seeking a manageable, low-maintenance footprint without sacrificing outdoor space, or investors looking for a stable rental asset in a mature neighbourhood. Its price history indicates it's a resilient asset, having steadily increased in value through various market conditions. A thoughtful perspective is that while the home's interior size and age rank lower locally, the premium lot ranking offers a unique advantage: the potential for future expansion, gardening, or simply enjoying more open space than is typical for the price point, which is a rare find in city living.
Frequently Asked Questions
1. What does the "top 1% for lot size" ranking actually mean?
It means this property's land area is larger than 99% of the other 173 lots on Oakdale Drive. In practical terms, you likely have a more generous yard or more space between you and your neighbours than almost anyone else on the street.
2. The home is older and smaller than many in the area. Where is the value?
The value is primarily in the land itself and the location. The consistent price growth, even for a smaller, older home, underscores the desirability of the Marlton neighbourhood and this specific lot. You're investing in the community and the property's potential as much as the existing structure.
3. Is there a garage or basement?
According to the listed details, the property has no garage and no basement. This is an important consideration for storage and utility space, though the larger lot may offer alternatives like a shed.
4. How has the property's value changed over time?
The home has shown steady appreciation. It sold for $158,000 in 2016, $174,000 in 2021, and $205,000 in late 2024. This trajectory suggests it has held and grown its value well over the past eight years.
5. The assessment is lower than the recent sale price. What does that indicate?
The city's assessed value ($186,000) is a snapshot for tax purposes, often lagging behind the current market. The recent sale at $205,000 is a stronger indicator of its present market value, showing buyers are willing to pay a premium above the assessment for this property.