Property Overview: 112 Oakview Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home on Oakview Avenue is defined by its practicality and potential. At 720 sqft with a renovated basement, it offers compact, efficient living space. The standout feature is its 5,003 sqft lot, which is notably larger than many others on the same street, providing valuable outdoor space and future possibilities in a mature neighbourhood.

Its primary appeal lies in being an accessible entry point into the Winnipeg market. With a historically low assessed value and a last sold price in the mid-$20k range, it represents one of the most budget-conscious options available. This isn't a move-in-ready showcase; its value is rooted in its land size and its role as a foundational project. It would suit a hands-on buyer looking for a literal footprint to build upon—whether that means living modestly while saving, using it as a long-term renovation project, or eventually considering the land for redevelopment. It’s a strategic purchase for an investor or first-time buyer comfortable with a property whose value is currently more in its lot than its structure.

Section 2: Frequently Asked Questions

1. Is this a "tear-down" property?
Not necessarily. While the home is smaller and older than area averages, it is habitable with a renovated basement. The large lot certainly makes redevelopment an option in the future, but it can also serve as a modest starter home as-is.

2. Why is the assessed value so much lower than nearby area averages?
The assessed value reflects the property's specific attributes: very small living space, an older building, and no garage. It is assessed based on its current state and utility, not the potential of its lot, which explains the significant discrepancy compared to area averages.

3. What are the real costs beyond the purchase price?
Prospective buyers must budget for higher relative maintenance typical of a century-old home, potential updates to bring systems to modern standards, and the property tax implications based on the city's assessment. Utilities and insurance for an older, smaller home should also be factored.

4. How does the large lot size benefit me if I'm not a builder?
Beyond development potential, a larger lot provides more privacy, space for gardens, storage sheds, or recreational areas than is typical for the street. It also means fewer perceived crowding issues from neighbours.

5. Where can I get the exact historical sale price?
The exact sold price is not published in the public listing data. You can request it directly by using the "Get exact sold price history" email submission form provided on the property details page; the service aims to provide the figure manually by the end of the same business day.