334 Oakwood Avenue

Property Overview & Appeal

This home at 334 Oakwood Avenue in Riverview presents a classic Winnipeg character property built in 1923. Its key appeal lies in the desirable combination of a generous, above-average lot and a strong assessed value, set within a well-established neighborhood. While the living area is modest compared to some neighbors, the property’s value is anchored in its substantial 6,398 sqft land parcel, which ranks in the top 11% on its own street. This suggests significant potential for outdoor space, gardening, or future expansion, a notable advantage in a mature area.

The home’s assessed value of $454k sits comfortably above averages for the street, neighborhood, and city, indicating it is viewed as a premium property within its immediate context. It would suit a buyer looking for a character home on a sizable lot who values established communities over brand-new construction. It’s a practical choice for someone willing to potentially update an older home (built earlier than most on the street) to modernize it, in exchange for the enduring value of land and location. The appeal is less about sheer interior size and more about the property's overall footprint and its perceived long-term value in the market.

Frequently Asked Questions

1. Is the house smaller than others in the area?
Yes, the living area of 1,069 sqft is somewhat below the average for Oakwood Avenue. However, the lot size is significantly above average, which often compensates for a smaller footprint by offering more outdoor space and potential.

2. Why is the assessed value higher than the neighborhood average?
The assessed value of $454k is above average, likely reflecting the property's larger-than-standard lot size and its positioning on a sought-after street in Riverview. Assessments consider the property's overall attributes and its context.

3. What should I know about the home’s age?
Built in 1923, it is older than most homes on its street. This typically means charming character but also warrants a thorough inspection to understand the condition of major systems like plumbing, electrical, and the foundation, which may have been updated over time.

4. How does the last sold price compare?
Records show it last sold between $400k-$450k in May 2017. The current assessed value suggests appreciation since then, but for exact historical sale figures, you must request a manual lookup from the site via email.

5. What are the trade-offs of this property?
The primary trade-off is between interior space and land. You are acquiring a premium lot in a stable area, but the home itself may require updates and offers less square footage than some neighboring houses. It’s a fit for those who prioritize land value and location over move-in-ready, modern spaciousness.