Property Overview: 409 Oxford Street, Winnipeg
Key Characteristics & Appeal
This home at 409 Oxford Street in North River Heights is a classic 1938 character bungalow, offering a practical entry point into a desirable, established neighbourhood. With 1,056 sqft of living space and a 4,204 sqft lot, its scale is notably more compact than many neighbouring properties, which typically feature larger homes on bigger lots. This is reflected in its assessed value of $365k, which sits below the local area average but aligns more closely with the broader Winnipeg average.
The primary appeal lies in its location and value proposition. It suits buyers seeking the mature streets, tree canopy, and convenience of North River Heights without the premium price tag of a larger, fully renovated home. It represents an opportunity for a first-time homebuyer, a downsizer, or an investor. The modest scale can be a practical advantage, offering lower maintenance and utility costs. While the home itself is below average in size for the immediate area, its city-wide living area is around average, suggesting a comfortable, efficient layout for many households. The recent sale in mid-2024 within the $350k-$400k range indicates a stable, accessible market position.
Frequently Asked Questions
1. Is this a "fixer-upper" or a move-in ready home?
The listing provides data on size, value, and year built, but not on interior condition. Given its age (1938) and assessed value below neighbourhood averages, prospective buyers should budget for potential updates or repairs common to homes of this era and be prepared to verify the current condition.
2. Why is the assessed value lower than the neighbourhood average?
The data shows the assessed value is in the lower tier for both Oxford Street and North River Heights. This is likely due to the combination of a smaller-than-average living area and lot size for this specific area, and may also reflect the home’s age and condition relative to larger, more updated homes nearby.
3. What are the advantages of a smaller lot in this neighbourhood?
While the lot is below average in size for the area, a 4,204 sqft property still offers decent outdoor space. The key advantages are reduced yard maintenance and potentially lower property taxes compared to neighbouring lots, making it a more manageable and cost-effective option within a premium location.
4. How does the recent sale price compare to the assessment?
The home sold in June 2024 for between $350,000 and $400,000. The assessed value is $365,000, which falls squarely within that sold price range, indicating the assessment is closely aligned with its recent market value.
5. Where can I see more details about nearby properties for comparison?
The listing references a "neighbourhood analysis page" that maps nearby homes and allows for detailed comparison of year built, living area, assessed value, and lot size. This tool can provide concrete visual context for how this property fits within its immediate surroundings.