Property Overview: 21 Oakdale Drive, Ridgedale, Winnipeg

Key Characteristics & Appeal

This is a spacious, well-established single-family home on an exceptionally large lot in Winnipeg's Ridgedale neighborhood. The key feature is its generous 12,839 sqft property, which ranks in the top 3% for size city-wide, offering rare potential for expansion, gardening, or outdoor living. The 1,606 sqft bungalow, with a finished basement and attached garage, provides practical living space. Recent market activity is strong, with a sale in January 2024 at $565,000, significantly above the current assessed value, indicating robust buyer demand.

Its appeal lies in a combination of privacy, space, and established community character. The lot size is a standout asset not easily found in newer subdivisions. While the home itself is from 1968 and may require updates, the underlying value is driven by the land and location. It suits buyers looking for a "blank canvas" property—those who value outdoor space over a turnkey interior, are willing to invest in renovations over time, or see long-term value in holding a large parcel in a mature area. It’s also a practical fit for multi-generational families, given the bungalow layout and finished basement.

Frequently Asked Questions

1. What does the ranking data actually tell me?
The rankings show this property outperforms most others in Winnipeg for lot size (top 3%) and recent sale price (top 10%). However, its building age is more typical (top 54%). This highlights a property where the land value and market performance are exceptional, while the house itself is of average age for the area.

2. Is the large lot more of an opportunity or a burden?
It's both. It offers unparalleled privacy and potential, but also means higher maintenance (lawn care, snow clearing) and potentially higher property taxes relative to houses on standard lots. The value is for those who will actively use or appreciate the space.

3. The house sold recently in January 2024. Why is it back on the market?
Without specific disclosure, this is unknown. However, rapid resales can sometimes relate to flexible purchase conditions (like a quick closing that appealed to the previous seller), investor strategies, or simply a change in the buyer's personal circumstances—not necessarily an issue with the property.

4. How does the finished basement impact the living space?
It adds flexible square footage, ideal for a recreation room, home office, or separate living area. As it's already finished, it provides immediate usable space without the cost and hassle of a renovation, which is a significant advantage in an older home.

5. What are the less obvious considerations with a 1968 bungalow?
While systems like roof, windows, and plumbing may have been updated, a buyer should budget for the ongoing maintenance of a 58-year-old home. The floor plan may feel compartmentalized compared to modern open-concept designs, but this can also provide defined, quiet spaces. The era of construction generally means solid structure and mature landscaping.