721 Oak Street

Central River Heights, Winnipeg

70.7

Good

Overall 70.7

Newer than most nearby homes

1,167 sqft (bottom 38%)

Built in 1953

Located in a high-income area

with median household income of ~143k

Transit 80.0

2-min walk to transit with 3 nearby routes

Within 500m: 1 dining spot, 1 school, 1 park, and 1 bank/ATM nearby

Living Area

Below average

13% smaller than neighborhood avg.

Year Built

Above average

0 yrs newer than neighborhood avg.

Mother tongue

English · 84%French · 3%

Past 10 years Central River Heights sales snapshot (~80% of all data)

Sold Count

426

Median price

580k

$/sqft

$326/sqft

Avg build year

1953

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Property score

70.7 is composed by the two sections below.

Property Score

55.7Fair
Living Area1,167 sqft60Fair
Year Built195336Low
Lot Size5,889 sqft74Good
Neighbourhood Sales Activity28Low

Community Score

93.3Excellent
Household Income93Excellent
Education Level100Excellent
Housing Stress100Excellent
Core Housing Need100Excellent
Employment Health68Good

Neighbourhood Sales

Central River Heights

How to read: Share of sales in each ~$50k price band for “central river heights” (Detached houses (non-condo), 2024). The tallest band is the mainstream budget range; multi-year view shows how that band shifts over time.

Market Conditions · WinnipegSeller's Market
Buyer'sBalancedSeller's

Sales-to-New-Listings

64.6%

1,196

sold

1,852

new listings

Manitoba Real Estate Association March public data on New Listings and Properties Sold across Manitoba

Sold Above Asking

65%

Majority sold above asking

68 of 104 sold above asking · Manually compiled from MLS Winnipeg sold listings, May 4 – May 10, 2026

With a Sales-to-New-Listings ratio of 64.6% and 65% of homes selling above asking price, demand is clearly outpacing supply. Buyers are competing, which is putting upward pressure on prices.

Area census snapshot

Dissemination area (DA) — Statistics Canada 2021 Census · Area: #46111043

Community deep dive

$143K

Median household income

$196K

Average household income

3%

Low income (LIM-AT)

0.3

Income inequality (Gini)

2.9

P90 / P10 ratio

11%

Single-person households

40%

Families with children

Population, labour & age

Population (2021)376
Labour force participation rate63%
Median age46.8
Avg household size2.7
Unemployment rate4%
Population density2350 / km²

Households & income

Low income (LIM-AT, % pop.)3%
Single-person households11%
Couple families with children40%
Median household income (2020)$143K

Housing

Renter households0%
Condominium dwellings0%
Median dwelling value (owners)$448K

Diversity, education & language

Immigrants (share of pop.)9%
Visible minority6%
Bachelor's or higher (25–64)71%
Mother tongue (1st)English · 84%
Mother tongue (2nd)French · 2%

Figures are for the census dissemination area containing this listing location; sources and margins may apply per Statistics Canada.

Rankings

Living Area

around average
1,167 sqft
0255075100
Same streetBottom 15%Same areaBottom 38%CitywideBottom 47%
Same street · Oak Street
#216 / 255
Bottom 15% · Avg 1,734 sqft
Same area · Central River Heights
#771 / 1,244
Bottom 38% · Avg 1,346 sqft
Citywide · Winnipeg
#103,755 / 194,458
Bottom 47% · Avg 1,342 sqft

Tax-Assessed Value

around average
423k
0255075100
Same streetBottom 30%Same areaTop 49%CitywideTop 33%
Same street · Oak Street
#179 / 255
Bottom 30% · Avg 548.4k
Same area · Central River Heights
#605 / 1,244
Top 49% · Avg 443.3k
Citywide · Winnipeg
#64,667 / 194,458
Top 33% · Avg 390.1k

Year Built

above average
1953
0255075100
Same streetTop 27%Same areaTop 27%CitywideBottom 31%

Lot Size

around average
5,889 sqft
0255075100
Same streetTop 35%Same areaTop 37%CitywideTop 35%

To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.

Transit & Walkability

Nearby stops, routes & transit score

Nearby Amenities

Dining, education, healthcare, shopping & more

721 Oak Street — 6 amenities found within 500 m, across 5 categories, including 1 dining (nearest 321 m), 1 education (nearest 171 m), 1 parks (nearest 287 m).

Search radius
🍽️Dining1
🏫Education1
🌳Parks1
🏦Finance1
Worship2

Crime & Safety

Central River Heights · WPS public data · 2026

Annual incidents

1

2026

vs. city avg

-97%

relative to avg

Year-over-year

-99%

vs. prior year

Primary type

Other

100%

Sales History

Sold 9/2016CA$350k–400k
Sold price

Same street

Bottom 10%

Same area

Bottom 26%

City-wide

Top 46%

Related homes

Highlights & common questions: 721 Oak Street, Winnipeg

Property Overview: 721 Oak Street, Central River Heights, Winnipeg

Key Characteristics & Appeal

This is a well-situated, single-storey home in the established Central River Heights neighbourhood. Built in 1953, it is notably newer than many homes on its street and in the immediate area. The property sits on a generous, approximately 5,900 sqft lot that is above average for the city, offering valuable outdoor space. While the living area (1,167 sqft) is modest, the home features a renovated basement and a detached garage.

Its primary appeal lies in its location and land value within a sought-after neighbourhood. It represents an opportunity for buyers looking to enter the River Heights area, where the land itself is a significant asset. The renovated basement adds functional living space, making it suitable for small families, downsizers, or investors. It’s a property with a "good bones" character: the lot size and newer build year (for the area) provide a solid foundation, while the interior offers a project-friendly scale for personal updates. A thoughtful perspective is that this home may appeal to those who prioritize neighbourhood and yard space over a large interior footprint, viewing the house as a canvas to tailor over time.


Frequently Asked Questions

1. How does the assessed value relate to the likely market price?
The assessed value is for municipal tax purposes and is typically lower than market value. The last recorded sale was in 2016 for $350k. Current market price would be determined by recent sales of comparable properties, market conditions, and the home's updated condition.

2. Is the living space too small for a family?
The main floor living area is compact. However, the renovated basement significantly increases the usable square footage, potentially providing space for additional bedrooms, a family room, or a home office, making it functional for a small family.

3. What are the implications of a detached garage?
A detached garage offers flexibility—it could be used as a workshop or studio without affecting the main house. The trade-off is convenience, as you must go outside to access it, which can be a consideration during Winnipeg winters.

4. The home is older; what should I be mindful of?
While built later than many neighbours, a 1953 home will still have age-related considerations. A thorough inspection should check the condition of the roof, foundation, plumbing, electrical systems, and the quality of the basement renovation to ensure it is properly insulated and waterproofed.

5. How does this property compare to others in Central River Heights?
The data shows this home sits on a larger-than-average lot for the city but has a smaller main floor living area than many on its specific street. Its key comparative advantages are its lot size and its newer construction date relative to the immediate neighbourhood, which can mean fewer legacy maintenance issues.

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