Property Overview: 5 Osgoode Place, Winnipeg

Section 1: Key Characteristics & Appeal

This well-situated home in Waverley Heights presents a solid, above-average value proposition within its market. Built in 1975, it is actually one of the newer homes on its specific street, offering potential advantages in systems and layout over immediate neighbors. With 1,342 sqft of living space, it provides ample room, ranking comfortably above the neighborhood average.

The property’s primary appeal lies in its strong assessment value relative to its size and location. Its municipal assessment of $450k sits notably above averages for the street, neighborhood, and wider city, suggesting official recognition of its condition, updates, or desirable attributes not immediately apparent in raw square footage. The lot size of 6,286 sqft is smaller than others on Osgoode Place but is actually above average for the city overall, representing a balanced yard that is manageable without being cramped.

This home would suit value-conscious buyers looking for a move-in-ready property in a stable neighborhood, particularly those who appreciate a home that stands out positively in official valuations. It’s also a sensible choice for buyers who prefer a newer build on a street of similar-aged homes, potentially minimizing surprise maintenance issues common in older properties. The data suggests a home that punches above its weight in its immediate context, offering a pragmatic blend of space, value, and neighborhood standing.

Section 2: Frequently Asked Questions

1. How does the assessed value compare to the likely listing or sale price?
The assessed value of $450k is a strong benchmark set by the municipality for taxation, often based on past sales and property characteristics. It typically reflects a conservative estimate, and the final sale price is determined by the current market. This property’s assessment ranking well above local averages is a positive indicator of its perceived worth.

2. The lot is smaller than others on the street. Is this a major drawback?
While the lot is below the street average, it remains above the average lot size for both the neighborhood and the city. This often translates to less yard maintenance while still providing decent outdoor space. The trade-off may be worth it for the above-average living space and newer construction year on the street.

3. The home was built in 1975. What should I be aware of?
As one of the newer homes on its block, major components like the roof, windows, or furnace may have been updated more recently than neighbors. However, a professional inspection is still crucial to check for era-specific items like original plumbing, electrical systems, or insulation, which may need attention or have already been upgraded.

4. What do the ranking percentages (e.g., Top 27%) actually mean?
A “Top 27%” rank for living area in the neighborhood means approximately 73% of comparable homes in Waverley Heights have less living space. Conversely, a “Top 86%” rank for year built means the home is older than about 86% of neighborhood comps—but in this case, that statistic is heavily influenced by the many newer homes in the wider neighborhood area compared to its own older street.

5. Where does this property offer the most value?
The data indicates its strength is in the combination of its above-average assessed value and generous living area for the neighborhood. You are getting more interior space than most nearby homes, and that space is formally valued higher than most comparable properties on the street, in the area, and across Winnipeg, suggesting a quality asset.