530 Oakenwald Avenue – Property Summary
Key Characteristics & Ideal Buyer Profile
This 1,152 sqft home, built in 1947, sits on a 5,044 sqft lot in Winnipeg’s Wildwood neighbourhood. Its assessed value is $384,000. What stands out here is not the property itself but how it compares to its surroundings.
On its own street, the home is around average for living area, assessed value, and year built. But the neighbourhood context tells a different story: the lot is notably smaller than most in Wildwood (ranking in the bottom 5%), and the assessed value is well below the neighbourhood average of $568,200. This gap suggests the home is priced more like a citywide starter than a premium Wildwood property. Citywide, it sits close to the median on most metrics.
The home’s appeal is twofold. First, it offers a foothold in an established neighbourhood where the average home is significantly more expensive—without paying the full premium. Second, being built in 1947 means it has age and character, but it’s not the oldest on the street. Buyers who value location over square footage, or who are willing to invest in updates, may find this a practical entry point.
This property suits first-time buyers seeking a solid, average-sized home in a desirable area without overextending; investors or flippers looking for a below-neighbourhood-average value play in Wildwood; and downsizers who prioritize neighbourhood quality over lot size or living area. It would be less suitable for buyers seeking a move-in-ready home with modern finishes or a large yard.
Frequently Asked Questions
1. Why is the assessed value so far below the neighbourhood average?
The Wildwood neighbourhood average of $568,200 skews higher because it includes many larger, newer, or more renovated homes. This property’s $384,000 assessment reflects its smaller lot size (5,044 sqft vs. the neighbourhood average of 9,032 sqft) and its older construction. It’s priced more in line with citywide averages than with its immediate neighbours.
2. How does the 1,152 sqft living area actually feel day-to-day?
It’s slightly below the citywide average of 1,342 sqft. For context, this is a comfortable size for a couple or small family, but the layout of a 1947 home may include smaller rooms, less open space, and limited storage compared to modern builds. Worth viewing in person to assess flow.
3. Is the lot size a dealbreaker for this area?
It depends on your expectations. The lot is smaller than 95% of properties in Wildwood, so if you want a large yard, garden space, or room for an addition, this may not work. But many homes on Oakenwald Avenue itself have similar lots, so it’s not out of character for the immediate street.
4. What are the risks of buying a 1947 home in this price range?
Typical older-home considerations apply: original wiring, plumbing, insulation, and foundation should be inspected. The property’s lower assessed value relative to the neighbourhood could also indicate deferred maintenance. On the positive side, the home’s age is average for the street, so you’re not buying the oldest fixer-upper in the area.
5. How does this property compare to others in its price bracket citywide?
Citywide, the home ranks in the top 43% for assessed value, meaning it’s slightly above the median for Winnipeg. You’re likely getting less square footage and land than the citywide average, but you’re buying into a neighbourhood with higher baseline values. The trade-off is location over space.