332 Oak Street

Property Overview: 332 Oak Street, Winnipeg

Key Characteristics & Appeal

This is a compact, century-old home in North River Heights, built in 1926. With 954 square feet of living space, it is notably smaller than most homes on its street and in the neighbourhood. However, it sits on a decent-sized lot of just over 4,800 square feet, which is quite typical for the area. The home’s assessed value of $442,000 is around the average for North River Heights but ranks above average when compared to the entire city, suggesting its value is anchored more by its desirable location than by the size of the house itself.

The primary appeal lies in securing a property in a well-regarded, established neighbourhood without the premium price tag of a larger home. It last sold for an estimated $400,000–$450,000 in late 2023. This property would suit first-time buyers or downsizers seeking an entry point into a mature community, or investors looking for a character home with land value. A thoughtful perspective is that while the house requires consideration for updates due to its age, the lot offers standard development potential for the area, providing a balance of immediate utility and future possibility.

Frequently Asked Questions

1. How does the home’s smaller size impact its value?
The below-average living area is a key factor in its pricing, making it more accessible. The value is supported by its location in North River Heights and its city-wide above-average assessment, indicating you are paying predominantly for the neighbourhood and land.

2. What should I consider about a home built in 1926?
Expect character but also plan for the maintenance and potential updating needs of a century-old home, such as plumbing, electrical, and insulation. A thorough inspection is essential to understand the condition of the original components.

3. Is the lot size a good feature?
At 4,821 sq. ft., the lot is very typical for North River Heights. It’s not oversized for the street, but it is proportional and offers standard outdoor space for the neighbourhood, with no notable constraints or advantages compared to immediate neighbours.

4. The sold price shows a range. How can I get the exact figure?
The site provides sold price ranges based on public data. To receive the exact sale price and full transaction history, you must request a manual lookup via email, as this information is not sourced from the MLS.

5. How does this property compare to others nearby?
It is among the smaller and older homes on Oak Street. Direct neighbours are homes of similar vintage, creating a consistent streetscape. Its assessed value is competitive within the area, sitting in the middle of the pack for the neighbourhood.