Property Overview: 396 Oakdale Drive
Section 1: Key Characteristics & Appeal
This property is defined by a compelling contrast. It is a classic 1943 one-storey home with a modest 1,059 sqft of living space and an unfinished basement, representing a solid, no-frills foundation. Its true standout feature is the exceptionally large, private lot of over 26,500 sqft—a rare find that places it in the top 1% of properties in Winnipeg for land size. This creates a unique value proposition: a home with renovation potential situated on a land parcel more typical of rural or estate settings.
The appeal lies in this significant outdoor space, offering immense privacy and possibilities for gardening, recreation, or future expansion. It suits two primary types of buyers: first, the hands-on individual or family looking for a home they can personalize over time, who values land and potential over immediate turn-key perfection. Second, it appeals to the strategic buyer who recognizes the long-term value of owning one of the largest lots in the area, viewing it as a land investment with an existing house.
A less obvious perspective is the home's age; while an 83-year-old building requires mindful inspection and maintenance, it also offers character and construction quality from a different era, often appealing to those weary of modern, lightweight builds. Its rankings indicate a home that is average in size and value for its area but sits on a truly exceptional piece of land, making it a unique outlier.
Section 2: Frequently Asked Questions
1. What does an "unfinished basement" mean for this house?
It means the basement is in a raw state, with concrete floors and exposed walls and utilities. It offers significant storage and presents a blank canvas for future finishing to add living space, but any development would be an additional project and investment.
2. The lot is huge. Are there any restrictions on what I can build or do on it?
While the lot offers great potential, you must always check with the City of Winnipeg’s zoning bylaws for permissible structures (like sheds, garages, or additions), setback requirements, and any potential easements before making plans.
3. Given the home's age, what should I be most concerned about during an inspection?
Key focus areas for a home built in 1943 will include the condition of the foundation, the roof, the plumbing and electrical systems (which may have been updated over time), and insulation. A thorough inspection is essential.
4. The value rankings show the land is top-tier, but the house is average. How does that affect property taxes?
Your property taxes are based on the total assessed value, which for this property is $347,000. While the land is a major contributor, the current assessment reflects the existing home's condition and size. Significant renovations or additions could increase the future assessed value.
5. Is the large lot more of a benefit or a responsibility?
It can be both. It provides unparalleled privacy and space but also requires more maintenance (like lawn mowing and landscaping) and may have higher associated costs for things like fence installation or snow clearing compared to a standard city lot.