534 Oakenwald Avenue – Property Summary

Key Characteristics & Buyer Profile

This 1,264 sqft home, built in 1947, sits on a 5,044 sqft lot in Winnipeg’s Wildwood neighbourhood. Its assessed value is $414,000.

The property’s main strength is its street-level value. It ranks in the top 19% on Oakenwald Avenue for assessed value, which is notably above the street average of $380,400. This suggests it represents stronger value relative to its immediate neighbours than it does within the wider neighbourhood or city. The living area is roughly average for the street (top 37%) and citywide (top 44%), but smaller than the typical Wildwood home (neighbourhood average is 1,657 sqft). The lot size is below average for the area—significantly so—ranking in the bottom 5% of the neighbourhood, where the average lot is 9,032 sqft.

The appeal here is nuanced. This isn’t a home that stands out for size or land. Its selling point is more about positioning within a specific street context: you get a home that’s valued well above the Oakenwald average, which may reflect recent updates or a desirable location within the street itself, even if the property doesn’t compete with larger Wildwood lots or newer citywide builds. It could also appeal to someone who prioritizes a smaller lot (less maintenance) in an older, established area where nearby homes are generally larger.

Best suited for: A buyer who wants a smaller-footprint home on a modest lot in a solid street location, and who sees value in paying for the specific block rather than for square footage or land area. Also suitable for someone who doesn’t need a large yard but wants an older home (1947) in a neighbourhood where newer construction is less common.

Five Possible FAQs

1. How does this home’s assessed value compare to others nearby?
On its own street, it’s above average by about $34,000, ranking in the top fifth. Within Wildwood, however, it’s below average—the neighbourhood average is $568,200. So the home holds its own against immediate neighbours but is priced lower than many other homes in the surrounding area.

2. Is the living space considered small for this neighbourhood?
Yes, relatively. The home is 1,264 sqft, while the Wildwood average is 1,657 sqft. It ranks in the bottom third of the neighbourhood for living area. On the street itself, it’s close to average (1,283 sqft is the street average), so it fits in with immediate neighbours.

3. Why is the lot size a potential concern?
At 5,044 sqft, the lot is well below the Wildwood average of 9,032 sqft. It’s in the bottom 5% of the neighbourhood. For buyers accustomed to generous yards typical of older Winnipeg neighbourhoods, this could feel compact. On the plus side, less land often means less upkeep.

4. What does the year built (1947) mean in practical terms?
The home is older than the citywide average (1966) and slightly older than the street average (1949). Within Wildwood, it’s actually in the top 19% for age—meaning most homes in the area are newer. Older construction can mean solid materials and character, but it may also require more ongoing maintenance or updates compared to a newer home.

5. Who typically buys a property like this?
Often, buyers who want to be on a specific street with good value relative to neighbours, rather than maximizing size. It could also suit someone downsizing from a larger Wildwood home who wants to stay in the area, or a first-time buyer looking for an older home with a manageable yard and a strong street-level price position.