Property Overview: 397 Woodward Avenue, Riverview, Winnipeg
Key Characteristics & Appeal
This 720 sqft bungalow, built in 1958 on a 3,642 sqft lot, presents a straightforward opportunity in Winnipeg's Riverview neighborhood. Its primary appeal lies in its position as a competitively priced, lower-maintenance entry point into a well-established area. The home sits on a street of similar properties, with its living area, assessed value ($323k), and lot size all ranking as "around average" among its immediate neighbors. This suggests it fits comfortably within its local streetscape without standing out as an outlier.
A thoughtful perspective is its "elite" ranking for year built within Riverview itself, where the average home was built in 1938. This means the house is notably newer than most in the broader neighborhood, which can be appealing for those mindful of potential maintenance or renovation needs associated with much older housing stock. The property would suit first-time buyers, downsizers, or investors seeking a manageable footprint in a central location. Its recent sale in the $350k-$400k range indicates it offers value relative to both street and city averages, catering to buyers who prioritize location and lot ownership over interior square footage.
Frequently Asked Questions
1. How does this home's size compare to others nearby?
At 720 sqft, the living area is below the average for both the Riverview neighborhood and Winnipeg overall. However, it is much closer to the average (917 sqft) for homes directly on Woodward Avenue, indicating the street itself consists of more modestly sized properties.
2. Is the assessed value a good indicator of the sale price?
The assessed value is $323,000. The home recently sold for an estimated $350,000-$400,000, which placed it in the top 17% of sale prices on its street. This suggests the market value exceeded its assessed value, likely due to market conditions or specific property features.
3. What does the "elite" ranking for year built mean?
Within the Riverview neighborhood, where the average comparable home was built in 1938, this 1958-built house is in the top 5% for being newer. This is a relative advantage in an area with many older homes, potentially implying updates or different construction materials.
4. How can I find out the exact sold price?
The public data shown is an estimated range. To obtain the exact sale price and verified transaction history, you must request a manual lookup via email through the website, as this information is not sourced from the MLS.
5. What are the trade-offs for the price and location?
The key trade-off is space. You gain a desirable location in Riverview and a manageable lot, but with significantly less interior square footage than the neighborhood and city averages. It’s a choice of prioritizing land and location over living area size.