Property Overview: 401 Woodward Avenue, Winnipeg
Key Characteristics & Buyer Appeal
This 720 sqft bungalow at 401 Woodward Avenue in Riverview is a compact, mid-century home built in 1958. Its primary appeal lies in its relative value and position within a well-established neighborhood. With an assessed value of $337k, it sits comfortably around the average for its street, area, and the wider city, suggesting a fair market entry point.
The home’s standout characteristic is its age within Riverview: built in 1958, it is newer than 95% of neighborhood comparables, potentially implying fewer concerns with outdated infrastructure common in much older homes. However, its living space and lot size (3,642 sqft) are notably below the Riverview and city averages, defining it as a more modest, efficient property.
This home would best suit first-time buyers, downsizers, or investors seeking an affordable foothold in a central neighborhood. Its manageable scale offers lower maintenance and utility costs. A thoughtful perspective is that its smaller size and newer construction (for the area) could represent a "right-sized" option, avoiding the premium for space that may not be needed while offering a structurally sounder base than many neighboring, older homes.
Frequently Asked Questions
1. How does the property’s size compare to nearby homes?
At 720 sqft, the living area is below the Riverview neighborhood average. However, on its own street, it ranks closer to the typical size, indicating the immediate block may feature more similarly scaled homes.
2. Is the assessed value in line with recent sale prices?
The assessed value of $337k is consistent with the home’s last recorded sale price range of $300k–$350k in late 2022. This suggests stability and a realistic municipal assessment.
3. What does the "Elite" ranking for year built mean?
This indicates the home, built in 1958, is newer than approximately 95% of comparable properties in Riverview. This is a relative advantage in a neighborhood with many homes dating back to the early 1900s.
4. How can I verify the exact historical sale prices?
The site provides sold price ranges for transparency. Due to industry rules, exact MLS figures are not published here. You can request the exact sale history via email, which the team will manually provide.
5. What are the trade-offs for the below-average lot size?
The lot is smaller than most in Riverview and Winnipeg, which means less outdoor space. However, this often translates to less yard maintenance. The lot is still fairly typical for Woodward Avenue itself, maintaining streetscape consistency.