13-407 Oakdale Drive

Property Overview

This 884 sqft home, built in 1977 and located in Winnipeg's Marlton area, presents a straightforward and affordable entry point into the market. Its key appeal lies in its proven value appreciation, having sold for $225,000 in August 2024—a significant increase from its 2017 sale price of $133,000. The property ranks exceptionally well for its lot size within its immediate street, neighborhood, and city, placing in the top 1%, suggesting it occupies a desirable parcel of land relative to its peers.

The home would suit first-time buyers or practical investors seeking a low-maintenance, no-frills property with strong fundamental value in the land. Its smaller size and lack of a basement or garage mean it appeals to those prioritizing simplicity and ease of upkeep over space. The impressive rankings for lot size indicate a potential long-term advantage, as land value is a key driver of property worth, making this a grounded choice for a buyer focused on the asset rather than just the dwelling.

Frequently Asked Questions

1. What does the high ranking for "lot size" actually mean?
It means that compared to other homes on its street, in Marlton, and across all of Winnipeg, this property's land area is larger than nearly all of them. This is often a positive indicator of underlying value, as land is a permanent asset.

2. The home is smaller and older. Where is the value?
The value is reflected in the recent sale history, showing strong appreciation, and is likely anchored in the desirable lot size. You are primarily investing in the location and the land, with the home providing functional living space.

3. Who is this property not well-suited for?
It is not ideal for buyers who need significant storage space, a garage for vehicles or hobbies, or who envision a large-scale renovation, as the absence of a basement limits expansion options.

4. The assessment value is lower than the recent sale price. Why?
Municipal assessments for tax purposes often lag behind current market values, especially in a moving market. The recent sale price of $225,000 is the clearest indicator of its current market worth.

5. What are the main considerations for maintenance or updates?
As a home built in 1977, a prospective buyer should budget for potential updates to major aging components like the roof, windows, or mechanical systems. The lack of a basement means all living and mechanical systems are on the main floor, which can simplify some maintenance access.