536 Oakenwald Avenue

536 Oakenwald Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1947 bungalow with 840 square feet of living space on a 5,044-square-foot lot, currently assessed at $353,000. The property sits in Winnipeg’s Wildwood neighbourhood on Oakenwald Avenue.

The appeal here is practical and grounded. Compared to other homes on the same street, it’s priced below the $380,400 average—meaning it’s one of the more affordable options in the immediate area. The land itself is around average for the street and city-wide, though notably smaller than the typical Wildwood lot (which averages over 9,000 square feet). That makes this a lower-maintenance yard, which some buyers actively prefer.

The house is older than most in the city (76th percentile citywide by year built) but is actually older than average on the street itself, where many homes date from 1949. The living area is compact relative to both the street and neighbourhood, ranking in the bottom percentiles. This is not a home that competes on size.

Who it suits: Buyers who want to be in Wildwood or on Oakenwald but are priced out of the larger, more expensive homes there. The smaller footprint and lower assessment make it a more attainable entry point. It also suits those who value a modest, manageable lot and aren’t looking for extra square footage to heat or maintain. Someone comfortable with a postwar home that likely needs some updating will find the price-to-location ratio appealing.

Five Frequently Asked Questions

1. How does the assessed value compare to what I’d actually pay?
Assessed value is a benchmark used for property taxes, not a market price. At $353,000, this property is assessed well below the Wildwood neighbourhood average of $568,200. That suggests lower property taxes than nearby homes, but the sale price could exceed assessed value depending on demand and condition. It’s wise to look at recent sale comparables on the street rather than relying solely on the assessment.

2. Is a 5,044-square-foot lot unusually small for Wildwood?
Yes, by Wildwood standards it is. The neighbourhood average lot is 9,032 square feet, and this one ranks in the bottom 5% locally. However, it’s actually close to the citywide average of 6,570 square feet. So the lot is typical for Winnipeg in general, just compact for this particular area. That can be an advantage for buyers who don’t want a large yard.

3. The house was built in 1947—what should I expect in terms of systems and structure?
Homes from that era often have plaster walls, galvanized plumbing, and older electrical systems (knob-and-tube or early Romex). Insulation and windows may have been upgraded, but it’s not guaranteed. A thorough home inspection is essential. On the positive side, older homes in this part of Winnipeg often have solid foundations and good bones. The fact that it’s ranked as “around average” for its street suggests it’s not unusually dated for the area.

4. Why is the living area ranking so low for the street?
At 840 square feet, this home is about 35% smaller than the street average of 1,283 square feet. Many homes on Oakenwald have been expanded or were built larger originally. That means this property is a genuine starter or downsizer home on a street that otherwise leans toward larger family houses. It also means there’s potential to add square footage later, if zoning allows—though that would be subject to permits and current building codes.

5. What does “Top 88% citywide” for living area actually mean?
It means that 88% of comparable homes across Winnipeg have more living space than this one. In other words, this is a small house by city standards. If you’re used to a typical 1,200- to 1,400-square-foot home, this will feel compact. The ranking is a neutral fact—it doesn’t mean the house is poor quality, just that buyers should visit in person to see if the layout works for their needs. Small houses can be efficient and cozy, but not everyone adjusts to the tighter footprint.