31 Royal Oak Drive – Property Summary

Section 1: Key Characteristics & Buyer Profile

This is a 1,241-square-foot home built in 1995 on a 5,056-square-foot lot in the Whyte Ridge neighbourhood. Its strongest feature is its assessed value—$457,000—which ranks well above the citywide average of $390,100 (top 27%). This suggests the property holds its value better than many comparable homes across Winnipeg, despite being on a smaller lot and having less living space than the neighbourhood average. The lot size (top 81% on the street) and construction year (top 20% citywide) are both solid, but the home is below average in square footage compared to Whyte Ridge as a whole.

The appeal lies in its balance: it’s not the biggest house on the street or in the area, but it’s newer than most citywide and offers a relatively high assessed value for its size. This could indicate efficient use of space, a desirable location within the street, or recent upgrades that aren’t immediately visible from the raw data. Buyers who would suit this property include those who prioritize a well-maintained, mid-90s home in a stable neighbourhood over maximum square footage, or someone looking for a property with strong value retention relative to the city. It’s less suited for buyers needing a large lot or expecting to compete with the higher-end homes in Whyte Ridge.

Section 2: Five Possible FAQs

1. How does this home’s size compare to others nearby?
On its own street (Royal Oak Drive), the living area is around average—ranked 24th out of 43 homes. But in the broader Whyte Ridge neighbourhood, it’s below average, ranking 2,043rd out of 2,382. If you’re comparing within the street, it’s typical; if you’re comparing across the whole neighbourhood, it’s smaller.

2. Is the assessed value a reliable indicator of market price?
Not directly—assessment value is used for property taxes, not sale price. However, the fact that this home’s assessed value ranks high (top 27% citywide) while its living area is only average suggests it may carry a premium for location, condition, or lot features. Market value could be different, but the assessment signals above-average value per square foot.

3. Why is the lot size considered “below average” in the neighbourhood but not on the street?
The lot is 5,056 sqft, which is smaller than the Whyte Ridge average of 6,175 sqft (top 71%—meaning larger lots are more common). But on Royal Oak Drive, the average is 5,374 sqft, so this lot is only slightly below that street’s norm (ranked 35th out of 43). The street itself has smaller lots than the wider neighbourhood, so “below average” in Whyte Ridge doesn’t mean the lot is tiny—just that many homes in the area have more land.

4. What does the “top 20%” citywide ranking for year built mean in practice?
It means this home was built more recently than 80% of comparable properties across Winnipeg, where the average is 1966. That translates to newer construction standards, likely better insulation, wiring, and layout, and less deferred maintenance than older homes. It’s a clear advantage over much of the city’s housing stock.

5. Could the home be a good investment compared to other Whyte Ridge properties?
It depends on your goal. The assessed value is lower than the neighbourhood average ($457k vs $529.6k), and the living area is smaller, so it won’t appreciate at the same rate as larger, pricier homes in the area. But its strong citywide value ranking and newer build suggest steady, predictable performance rather than high-risk gains. It’s a practical choice, not a speculative one.