221 Oakdale Drive

Property Overview & Key Characteristics

This single-storey home on Oakdale Drive offers a unique proposition centered on space and value. Its primary appeal lies in the exceptionally large, nearly 20,000 sqft lot, placing it in the top 1% of all properties in Winnipeg for land size. This provides immense potential for gardening, recreation, or future expansion. The home itself is a modest 1,126 sqft bungalow with a finished basement, built in 1951. While the house ranks average for its size in the area, the property's overall assessed value ranks highly, suggesting the land is a significant driver of its worth.

The property would suit buyers looking for a solid, no-frills home with extraordinary outdoor space in a mature neighbourhood. It's ideal for those with long-term vision—whether that's enjoying a vast private yard, adding a major addition, or holding a land-rich asset in a city where large lots are increasingly rare. It's less suited for those seeking a modern, turn-key home, as the building itself is older and may require updates.

Frequently Asked Questions

1. What is the true value here, the house or the land?
The data strongly indicates it's the land. The lot size is in the 99th percentile city-wide, while the house's age and living area are around average. The high assessment ranking relative to the home's age suggests assessors see significant underlying land value.

2. Is the house in good condition given its age?
Built in 1951, the home is 75 years old. Prospective buyers should budget for a thorough inspection. The "finished basement" is noted, but the specifics of that finish and the condition of major systems (roof, plumbing, electrical) should be key due diligence points.

3. How does the 2020 sale price compare to the current assessment?
The home sold for $357,000 in December 2020. The current assessed value is $427,000. This increase reflects market trends over the period, but the assessment is not a market price. It's a useful benchmark, but the final sale price will be determined by current market conditions.

4. What are the implications of such a large lot?
Beyond personal enjoyment, it offers flexibility. It could accommodate a large garage, workshop, or even a future secondary dwelling subject to zoning. The trade-off is higher maintenance (lawn care, snow clearing) and potentially higher property taxes due to the valuable lot.

5. The rankings show the house is older than most in the area. Is that a concern?
It places in the older segment for both the street and community. This isn't inherently negative but contextualizes the property. It sits in a mature, established neighbourhood. The key is how the home has been maintained and updated over time, which an inspection would clarify.