Property Overview: 215 Oak Street, North River Heights, Winnipeg

Key Characteristics & Appeal

This home at 215 Oak Street is a classic North River Heights property that offers a balanced proposition. Built in 1920, its character and established presence are central to its appeal. With 1,765 sqft of living space, it provides above-average roominess for both the neighbourhood and the wider city, comfortably accommodating a family or those who value spacious interiors. The lot size of 4,823 sqft is typical for the area, offering decent outdoor space.

The home’s assessed value of $541,000 positions it as a premium property within the broader Winnipeg market, yet it sits around the average for Oak Street itself. This suggests you are investing in a well-regarded, stable street where values are consistently strong. A key, less obvious perspective is that its 1920 construction date, while requiring due diligence, places it in a cohort of homes that often feature higher-quality materials and craftsmanship than many later builds, potentially offering a solid core structure.

This property would best suit buyers who appreciate established neighbourhoods with mature landscapes and are prepared for the considerations of an older home. It’s ideal for someone seeking a character home with modern living space, who values a location where the investment is backed by strong comparative values on a desirable street.

Frequently Asked Questions

1. How does this home’s value compare to its neighbours?
The home’s assessed value is slightly below the average for Oak Street but ranks well above average for both the North River Heights area and the city overall. This indicates you’re purchasing in a prime location where property values are consistently higher.

2. What should I consider with a home built in 1920?
While offering character and often robust construction, a home of this age will require a thorough inspection. Key focuses should be the state of major systems like plumbing, electrical, and the foundation, as well as the roof and insulation, to understand any needed updates or investments.

3. Is the lot size suitable for additions or landscaping projects?
At 4,823 sqft, the lot is around average for the neighbourhood. It provides good yard space for gardening and recreation. Whether it suits a major addition depends on specific bylaws and the existing footprint; a review of zoning regulations would be necessary.

4. The data shows a sale in mid-2021. How is the current price positioned relative to that sale?
The property sold for an estimated $400k–$450k in June 2021. The current assessed value of $541k reflects market appreciation over the subsequent years. For exact historical sale prices, you can request the verified figures via email as noted on the listing.

5. How does the living space compare to a typical Winnipeg home?
With 1,765 sqft, this home is significantly larger than the Winnipeg city-wide average of about 1,342 sqft. It provides substantially more living area than most homes in the city, ranking in the top 18% overall.