Property Overview: 400 Woodward Avenue, Riverview, Winnipeg
Key Characteristics & Appeal
This 720 sqft bungalow, built in 1958, presents a specific and compelling value proposition. Its primary appeal lies in its position as a competitively priced entry point into the established Riverview neighborhood. With an assessed value significantly below area averages ($291k vs. ~$389k), it offers immediate equity potential and lower property taxes. The home is modest in scale—its living area is well below neighborhood and city averages—making it a true starter home or downsizer’s option.
Its strengths are contextual. While the lot size is smaller than most on the street, the home itself is newer than 95% of properties in Riverview, suggesting potentially fewer issues with aging infrastructure common in the area. It suits pragmatic first-time buyers who prioritize location and getting a foothold in the market over space, or investors seeking a lower-cost rental property in a desirable area. The appeal is financial efficiency and location, not grandeur.
Frequently Asked Questions
1. Is this a good value for the neighborhood?
Yes, from a financial entry point. The assessed value is in the lowest quartile for Riverview and the lowest on its street, offering a below-average cost for a well-located address.
2. How does the smaller living area impact livability?
The 720 sqft layout requires efficient use of space. It is ideal for a single person, a couple, or someone looking to downsize. It is not suited for those needing multiple bedrooms or dedicated work-from-home spaces.
3. The home is "newer" than most in Riverview. What does that mean?
Riverview has many heritage homes. Being built in 1958, this property likely has modern construction fundamentals (wiring, plumbing) compared to much older neighbors, which can mean fewer major system updates.
4. What are the key comparisons to nearby sold properties?
It last sold between $300k-$350k in 2021. Compared to nearby references, it offers a newer build year than many but with less square footage. Its value is aligned with smaller homes in the area.
5. How can I get the exact historical sold price?
The exact sold price is not publicly displayed due to industry data rules. You can request the fully verified transaction history by email through the site; they will provide the exact figures manually.