Property Overview: 705 Oakland Avenue, Winnipeg
Key Characteristics & Appeal
This 1,040 sqft bungalow, built in 1959, presents a straightforward opportunity in the Rossmere-A neighbourhood. Its core appeal lies in a value-oriented position within a stable, established area. The home itself is of average size for its street and neighbourhood, but it stands out with a larger-than-average lot (5,900 sqft), offering valuable outdoor space and potential not found in many comparable properties.
The assessed value of $293k is notably below averages for the street, neighbourhood, and city, suggesting a potentially lower entry point. Recent sale history indicates steady activity. This combination—a solid lot size, a classic postwar build, and a value price—creates a practical proposition. It would suit first-time buyers seeking a foothold in a mature community, value-conscious investors, or downsizers looking for a manageable home with generous yard space. The appeal is less about standout luxury and more about securing a sound, foundational property where the land itself is a key asset.
Frequently Asked Questions
1. Is the below-average assessed value a concern?
Not necessarily. It primarily indicates this property is valued lower than many peers, which can be an advantage for property taxes and purchase price. It may reflect the home’s specific condition or updates needed compared to others on the street.
2. How does the larger lot size benefit me?
Beyond extra room for gardens or play, a larger lot in an older neighbourhood like Rossmere-A offers long-term flexibility. It could accommodate additions (subject to zoning) or simply provides more privacy and space than newer subdivisions, which is a growing rarity.
3. The home is older than many on the street. What should I consider?
Being built in 1959 places it in the earlier wave of the area’s development. This means potential for original character but also necessitates a thorough inspection of foundational systems like plumbing, electrical, and the roof, which may be nearing or past their typical lifespan.
4. What do the recent sales tell us?
The property sold in March 2023 and October 2020, showing consistent market activity. This pattern suggests it’s seen as a desirable, liquid asset in its price range within the community.
5. How can I verify the exact past sale prices?
The provided data shows price ranges. For precise figures and a verified transaction history, you must request a manual lookup from the site via email, as they do not publish MLS data directly.