18-381 Oak Forest Crescent

Property Overview

This well-maintained home in Assiniboia Downs presents a compelling opportunity for a specific buyer. Built in 2011, it offers modern construction without the premium of a brand-new build. The key feature is a renovated basement, adding valuable finished living space to the 1,600 sqft layout. While it lacks a garage, its appeal lies in its strong positional value—the lot ranks in the top 1% for size within its immediate neighbourhood, suggesting a generous and desirable yard space.

The home suits practical buyers looking for move-in readiness with room to grow, particularly those who prioritize outdoor space over attached parking. A thoughtful perspective is that its recent sale price of $615k in mid-2024 came in well above its $560k assessed value, indicating strong market confidence in the specific location and property condition. This isn't just a standard subdivision home; it's a property in a mature, established pocket where the land itself is a significant asset.

Key Details & FAQs

Key Characteristics & Ideal Buyer

• Core Features: A 1,600 sqft, 15-year-old home featuring a renovated basement. The property stands out for its land area, which ranks in the top 1% of its neighbourhood.
• Primary Appeal: Move-in readiness combined with the long-term value of a large lot. It offers modern amenities with established community roots.
• Best Suited For: Buyers who value spacious yards over attached garages, and who seek a home that balances contemporary updates with a settled streetscape. Its recent sale history suggests it attracts buyers willing to pay a premium for the specific lot and condition.

Frequently Asked Questions

1. Why is the land area ranking so high if the lot size isn't listed?
The ranking is a comparative metric. It means that among all lots in the neighbourhood, this one is larger than 99% of them. This is a significant advantage for privacy, outdoor activities, or future landscaping projects.

2. The home recently sold for $615,000, but is assessed at $560,000. Why the difference?
Property assessments are for taxation purposes and often lag behind current market values. The higher sale price reflects what a buyer was recently willing to pay based on factors like the renovated basement, the desirable lot, and market conditions at the time.

3. What does the "renovated basement" likely include?
While specifics would require viewing or disclosure documents, a renovation typically means the basement is finished as livable space, which could include family rooms, bedrooms, or recreational areas, adding significantly to the home's functional square footage.

4. How does not having a garage impact daily living and value?
This is a trade-off. It may require using a driveway or on-street parking and planning for seasonal weather. However, the value is reallocated to the living space and lot size, which for many buyers is a fair exchange. The large lot also leaves potential for adding a garage or shed, subject to local bylaws.

5. The home ranks lower for "year built" on its street. Is that a concern?
Not necessarily. Ranking at 51% on the street simply means it's of average age for Oak Forest Crescent. This often indicates a street with consistent, mature development rather than one with a mix of very old and very new homes, contributing to neighbourhood stability.