Property Overview: 501 Oakland Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 501 Oakland Avenue in the Rossmere-A neighborhood presents as a solid, average-sized property that aligns closely with its local market. Built in 1959, it is slightly newer than many of its immediate neighbors on Oakland Avenue. With 1,044 sqft of living space and a 5,151 sqft lot, its size is very typical for the street and community, offering comfortable space without standing out as particularly large or small. The municipal tax assessment of $314,000 is also consistent with area averages, suggesting a stable, mid-range valuation.

The appeal lies in its predictability and established setting. It’s a property that doesn’t carry the premium or the challenges of extremes, making it a straightforward option in a mature neighborhood. It would suit first-time buyers or practical-minded homeowners looking for a stable entry into the Winnipeg market without unexpected size or assessment surprises. A thoughtful perspective is that its "average" metrics across the board could indicate lower volatility and less competition, appealing to those seeking a calm, settled community feel rather than a standout investment property. The lot, while smaller than the street average, is still a good size for the area and may offer manageable upkeep.

Section 2: Frequently Asked Questions

1. How does this home’s age affect potential renovations?
Built in 1959, the home is right in the era of many classic Winnipeg bungalows. Buyers should budget for potential updates to original systems like plumbing, electrical, or insulation to meet modern standards, while possibly appreciating the period-appropriate layout and structure.

2. Is the tax assessment a reliable indicator of market value?
The assessment ($314,000) is for municipal tax purposes and is close to area averages. It’s a useful data point, but market value is determined by current sale prices, condition, and buyer demand. The last recorded sale was between $250,000-$300,000 in 2016.

3. What does it mean that the lot size is "below average" for the street?
The lot is 5,151 sqft, while the street average is 5,389 sqft. This minor difference likely means a slightly smaller backyard or building footprint. For many, this is negligible, but it’s worth verifying the exact layout and any setback requirements if expansion is planned.

4. How stable is the value in this location?
Rankings show the home’s key metrics (size, assessment) consistently place it in the middle of the pack for the street, community, and city. This consistency can suggest stable, long-term value without dramatic peaks or troughs, typical of well-established neighborhoods.

5. Where can I find accurate historical sale prices?
The website notes that precise sale data is not publicly displayed due to industry restrictions. They offer to provide accurate sale history via manual email request upon registration, as the figures shown (e.g., the 2016 sale range) are from general public records.