Property Overview: 551 Oakview Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This 978 sqft bungalow, built in 1958, presents a solid, no-fuss home in the established Rossmere-B neighborhood. Its primary appeal lies in its stability and value within its immediate context. While its size is below the Winnipeg city average, it is squarely average for its own street and neighborhood, meaning it fits right in without overpaying for excess space. The lot size is also typical for the area, offering standard outdoor space.

The home’s assessed value of $315k is very close to neighborhood averages, suggesting a fair, market-reflective valuation. A notable point is that it sold in mid-2024 for an estimated $350k-$400k, a price that placed it in the top 10% of recent sales on Oakview Avenue. This indicates that well-maintained, appropriately priced homes in this location are in demand.

This property would suit first-time buyers or downsizers looking for an affordable, low-drama entry into a mature neighborhood. It’s for someone who values practicality over prestige, and who understands that a home’s true value is often best measured against its immediate peers, not city-wide averages. The fact that it’s newer than most on its block is a subtle, positive differentiator for its age.

Section 2: Frequently Asked Questions

1. How does this home’s size really compare to others?
At 978 sqft, it’s slightly smaller than the average home in Winnipeg, but it’s very typical for the Rossmere-B neighborhood and Oakview Avenue itself. You’re getting a standard-sized home for this specific area.

2. The sold price seems high compared to the assessed value. Why?
The assessed value is for municipal tax purposes and often lags behind the current market. The recent sale price (est. $350k-$400k) reflects what a buyer was actually willing to pay in 2024, suggesting strong demand for move-in ready homes in this location.

3. What does the “year built” ranking mean?
Built in 1958, this home is newer than about 87% of the homes on Oakview Avenue and 74% in Rossmere-B. This is a relative advantage, potentially meaning fewer immediate concerns with aging infrastructure compared to older neighbors.

4. Is the lot size a constraint?
At just under 5,000 sqft, the lot is average for the street and neighborhood. It provides a standard-sized yard for the area but is smaller than the Winnipeg average. It’s suitable for typical gardening and recreation but not for extensive additions.

5. How can I find out the exact sold price?
Due to data source restrictions, exact sold prices are not displayed publicly on this site. You can request the exact figure via email, and the team will manually look it up and send it to you, typically by the end of the same business day.