145 Oak Street

Here is a summary of the property at 145 Oak Street, written for direct display on a webpage.

Key Characteristics & Buyer Profile

This is a home where the standout feature isn’t the house itself, but the land it sits on. The 9,009 sqft lot places it in the top 4% on Oak Street and the top 8% city-wide in Winnipeg. That’s an exceptionally large piece of land for a residential street, and it’s the primary source of the property’s value and potential.

The living area is a modest 1,734 sqft, which is actually below the neighborhood average for Wellington Crescent but above the citywide average. The home was built around 1945, putting it in the same era as its neighbors on the street. Its assessed value of $556k sits comfortably above the citywide average of $390k, but well below the neighborhood average of $805.6k—this tells you the house itself is more modest than the grander homes in the wider area, while the lot gives it strong footing.

The appeal here is less about a turnkey, move-in-ready trophy home and more about space, location, and potential. A buyer gets a generous lot in a respectable citywide ranking for land size, on a solid street, without paying the premium for a fully renovated or oversized house. It would suit a buyer who values outdoor space, gardening, or parking, or someone looking for a solid, older home that they can update over time without the pressure of being in the most expensive tier of the neighborhood. It’s also ideal for someone who wants to be in a good citywide percentile for property value without stretching into the top-tier neighborhood prices.

Frequently Asked Questions

1. How does this property compare to others on Oak Street specifically?
It performs well. The lot size is elite for the street (ranked 11 out of 255), and the assessed value is roughly average (ranked 86 out of 255). This means you’re getting one of the bigger yards on the street, but the house itself isn’t overvalued compared to your direct neighbors.

2. Is the home’s age a concern?
A 1945 build is common for this area. The main consideration isn’t the age itself, but what has been updated since. Buyers should budget for the typical systems of a home this age—mechanicals (furnace, electrical, plumbing) and windows are the usual suspects. The fact that it’s ranked lower than some newer homes citywide (top 12%) suggests it may not have had a major recent renovation, which keeps the price accessible.

3. Why is the assessed value below the neighbourhood average?
The “neighbourhood” here (Wellington Crescent) includes much larger and more valuable homes. Your property’s $556k assessment reflects a smaller living area and older finishes compared to the higher-end homes in that zone. This isn’t a negative—it means you’re buying into the area’s cachet and lot standards at a much lower entry point.

4. What type of future value could this property hold?
The land is the main driver. Large lots in a city’s top 8% for size are a limited resource. While the house won’t appreciate as quickly as a fully renovated property, the land’s scarcity provides a strong floor. Any improvements to the house would have a direct, positive impact on the overall property value, potentially moving it up the street and neighborhood rankings.

5. How does the lot size actually feel?
At 9,009 sqft, this is noticeably larger than the typical city lot (average is 6,570 sqft). It’s not a sprawling estate, but it offers enough space for a substantial backyard, a wide driveway, and room for gardens or a workshop. On a street where the average lot is 5,862 sqft, yours is nearly 50% larger, which is a tangible difference in daily use.