5-409 Oakdale Drive

Property Summary: 5-409 Oakdale Drive, Winnipeg

Key Characteristics & Appeal

This is a compact, one-level home built in 1977, offering 676 square feet of living space. Its standout feature is its exceptional location within the Marlton neighborhood. The property ranks in the top 1% of its street and the top 0% of both its community and all of Winnipeg for its land area, suggesting a larger-than-typical lot for the area, which is a significant advantage. While the home itself is modest in size and age, its appeal lies in this strong land value and prime positioning. It suits first-time buyers or investors seeking an entry point into the Winnipeg market with a property whose value is heavily anchored in its land. It would also appeal to downsizers or those looking for a low-maintenance, single-level living option where the potential of the lot itself—for gardening, expansion, or future redevelopment—is a key part of the investment.

Frequently Asked Questions

1. What does the ranking data actually mean?
The rankings show how this property compares to others. For example, being in the "top 0%" for land area in Winnipeg means its lot size is larger than 100% of compared properties, making it a rare find. Conversely, its smaller living area ranks lower, highlighting the trade-off between land and built space.

2. Is the lack of a basement or garage a major drawback?
For some buyers, yes. It limits storage and utility space. However, this can simplify maintenance and reduce costs, which may be attractive for those seeking a truly low-maintenance property or who plan to use the generous lot for a shed or detached garage.

3. The home was built in 1977. What should I consider?
While not historic, the building is nearly 50 years old. A thorough inspection is essential to understand the condition of major systems like roof, wiring, and plumbing. Its age and smaller size suggest it's a candidate for updates or renovations to modernize the living space.

4. Who determines the $136,000 assessed value, and is it the sale price?
The assessed value is set by the municipal government for property tax purposes. It is a useful benchmark but not a guaranteed sale price. The market price can be higher or lower based on condition, updates, and current buyer demand.

5. What's the less obvious value here?
The value is in the land, not the structure. This property represents an opportunity to own a sizable lot in a well-ranked location. The existing home provides immediate utility, but the long-term potential may lie in the property's redevelopment possibilities or simply in owning a disproportionately large piece of a desirable community.