Property Summary: 5-407 Oakdale Drive, Winnipeg
Key Characteristics & Appeal
This is a compact, well-maintained condo unit in the Marleton neighbourhood, built in 1977. With 676 square feet of living space, no basement, and no private garage, it represents an efficient, low-maintenance housing option. Its primary appeal lies in its exceptional value and financial accessibility, as evidenced by its recent sale price and modest assessment value. The data reveals a less obvious but significant strength: its remarkable competitive standing within its immediate area. It ranks in the top 1% of its street and top 0% of its neighbourhood for overall property value, suggesting it is a standout, well-regarded unit in a desirable location. This unit would perfectly suit first-time buyers seeking an affordable entry into the market, investors looking for a stable rental property, or downsizers wanting to simplify their lifestyle without leaving a familiar community.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings show how this property compares to others. For example, being in the "top 1% on its street" for value means it is estimated to be more valuable than 99% of the other 172 properties on Oakdale Drive, indicating a prime position within the immediate area.
2. Is the lack of a basement or garage a major drawback?
For some buyers, yes. It limits storage and may not suit those with multiple vehicles. However, this translates to zero maintenance for those spaces and is a key reason for the unit's affordability and appeal to those seeking a truly lock-and-leave lifestyle.
3. The home is almost 50 years old. Should I be concerned?
The building's age is typical for the area. The more relevant indicator is its consistent sale history (selling in 2022 and again in 2024) and its high relative value ranking, which suggests the building has been maintained well and remains in demand.
4. Why did it sell for more than its assessed value in 2024?
This is common and reflects a strong market where buyer demand pushed the final sale price above the municipal assessment, which is often calculated for tax purposes and can lag behind current market trends.
5. Who is responsible for exterior and structural maintenance?
As a condo unit, the corporation is responsible for the building exterior, roof, foundations, and common areas. Your fees cover these major expenses, which is a significant benefit for budgeting compared to a standalone home.