23 Oswald Bay

Property Overview: 23 Oswald Bay, Winnipeg

Key Characteristics & Appeal

This 1978-built, one-storey home in Elmhurst sits on a substantial 10,063 sqft lot, which is a defining feature. With a finished basement and an attached garage, it offers practical, single-level living. The property’s primary appeal lies in its exceptional land size and established, mature setting. It ranks in the top 6% of all Winnipeg properties for lot size, providing rare space and potential in the city.

The home suits buyers looking for a solid, no-fuss bungalow with room to grow, garden, or simply enjoy privacy. It’s ideal for those who value a large yard over a large house, or for downsizers seeking single-level convenience without compromising on outdoor space. A thoughtful perspective: while the living area is modest, the outstanding lot size offers long-term value that newer subdivisions rarely match, representing a classic trade-off of land over structure. It’s a property for a pragmatic buyer who sees the inherent value in the land itself.

Frequently Asked Questions

1. How does the age of the home (built in 1978) affect its condition and potential costs?
As a 48-year-old home, it benefits from an established neighborhood and mature landscaping. Buyers should budget for age-appropriate updates and a thorough inspection of major systems like roof, windows, and foundation, which are common considerations for homes of this era.

2. What does the lot size ranking actually mean for me?
Ranking in the top 6% in Winnipeg for lot size means this property offers significantly more outdoor space than the vast majority of homes in the city. This translates to greater privacy, gardening potential, room for additions, or simply more space for children and pets to play.

3. The living area is ranked lower than the lot size. Is the house too small?
The 1,286 sqft living area is modest relative to the lot. This home prioritizes land over interior square footage. It may be perfectly sufficient for many, but buyers seeking expansive open-concept interiors should view the property in person to see if the layout meets their needs.

4. What is the significance of the "finished basement"?
A finished basement adds valuable, flexible space that is not reflected in the official living area square footage. It can function as a recreation room, home office, or additional bedrooms, effectively increasing the home's usable space.

5. How should I interpret the assessment value in relation to the asking price?
The municipal assessment of $467,000 is a benchmark for property taxes and may not reflect current market value. It indicates the home is valued above average for Winnipeg (top 23%). The listing price will be determined by current market conditions, the home's specific features, and the seller's expectations.