Property Overview
This 1958 home at 662 Oakland Avenue in Winnipeg's Rossmere-A neighborhood presents a solid, mid-century property with clear value positioning. Its appeal lies in being a well-sized, established home in a mature area, offering space and potential at a price point that compares favorably to its immediate surroundings.
Key Characteristics & Ideal Buyer
The home offers 1,064 sqft of living space on a 5,281 sqft lot. Its key characteristic is its relative value. While the living area is above average for Oakland Avenue, its assessed value of $301k is notably below the street and neighborhood averages. This suggests it may be an opportunity for a buyer comfortable with a home from the late 1950s, possibly requiring some updates, but in a stable setting. Recent sale data indicates it sold for an estimated $350k–$400k, placing it in the top quarter of sales for the street.
Its appeal is grounded in practicality. It suits first-time buyers or investors looking for an entry into the Rossmere area with room to grow equity. It would also fit downsizers seeking a manageable single-family home without a premium price tag. A less obvious perspective is its potential as a "value anchor" on a street where most homes are assessed higher; this can be advantageous for future property tax assessments relative to neighbors.
Frequently Asked Questions
1. How does this home’s size really compare?
At 1,064 sqft, the living area is larger than the average home on Oakland Avenue (1,044 sqft) and typical for the wider Rossmere-A neighborhood. It offers a practical footprint without being oversized.
2. Why is the assessed value lower than the street average?
The assessed value of $301k is below the Oakland Avenue average of $322k. This can be due to a variety of factors, including the home's specific condition, interior finishes, or precise layout compared to neighbors. It often indicates a property where the assessed value may not fully reflect recent market prices or potential.
3. What does the sold price range tell us?
The home sold for an estimated $350k–$400k, which is in the top 25% of sold prices for the street. This indicates strong market interest and that buyers were willing to pay a premium over the assessed value, likely seeing potential the official assessment didn't capture.
4. Is the lot size a pro or a con?
The 5,281 sqft lot is very close to the street average. It provides a standard-sized yard for the area—sufficient for outdoor space and gardening but not unusually large. It's a typical, manageable lot for this neighborhood.
5. Are homes from 1958 a concern?
The year built (1958) is typical for this street and area. It means the home is from the solid, post-war construction era but will likely have older mechanical systems (like plumbing and electrical) and may need modernization. A thorough inspection is essential to understand the condition and any needed updates.