23-381 Oak Forest Crescent

Property Summary: 23-381 Oak Forest Crescent, Winnipeg

Key Characteristics & Appeal

This property is a well-maintained home built in 2009, offering a modern foundation with a renovated basement. Its primary appeal lies in its strong positional value within a desirable setting. The home ranks in the top 1% for lot size within its immediate neighbourhood and the top 0% across all of Winnipeg, indicating an exceptionally spacious and private parcel of land for the area—a rare find in newer communities. With a living area of 1,562 sqft, it provides ample space without being excessive.

The home suits two main types of buyers. First, it’s ideal for value-conscious buyers seeking established stability; the recent sale history shows steady, modest appreciation, suggesting a settled and predictable market value. Second, it perfectly fits those who prioritize outdoor space and privacy over flashy amenities. The absence of a garage or pool is offset by the premium lot, appealing to gardeners, families wanting a large play area, or anyone who values room to breathe. The renovated basement adds functional, modern living space, making it a practical and grounded choice.

Frequently Asked Questions

1. What does the lot size ranking actually mean?
Ranking in the top 1% in the neighbourhood for land area means this property has one of the largest lots in the area. This is a significant advantage for privacy, outdoor activities, or future expansions like a shed or deck.

2. The home sold in 2021 and 2022. Is that a concern?
Not necessarily. The two sales in close succession could indicate a previous investor/flip (coinciding with the basement renovation) or a change in the owner’s circumstances. The consistent and moderate increase in sale price between those transactions suggests the renovations added value in a stable market.

3. There’s no garage. How big of an issue is that?
This depends on lifestyle. For multi-vehicle families or those needing extensive storage, it’s a consideration. However, the large lot provides clear space to add a detached garage or shed, subject to local bylaws. For one-vehicle households or those using street parking, it may be a worthwhile trade-off for the larger property.

4. How does the assessed value compare to the likely asking price?
The assessed value for tax purposes ($56.70k) is typically much lower than market value. The last sale was $70.50k in 2022. Market value is determined by recent comparable sales, current demand, and the property's condition—not the municipal assessment.

5. The building type is listed as “—”. What does that indicate?
This often means the property is a single-family detached home, which is so standard for the format that it wasn’t specifically tagged. The presence of directly adjacent properties with similar addresses (e.g., 35-381, 37-381) suggests it is likely part of a small subdivision or cul-de-sac with large, individual lots.