540 Oakenwald Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1947 home with 1,432 square feet of living space on a 5,044-square-foot lot. Its assessed value is $395,000.
The property sits in a somewhat unusual position relative to its surroundings. On its own street, Oakenwald Avenue, the house is above average in size and around average in value—meaning you get more interior space than most neighbours without paying a premium for it. But zoom out to the Wildwood neighbourhood, and the picture shifts: the home is below average in both assessed value and land size compared to other properties in the area. That gap is worth noting. Wildwood has some larger, pricier homes, so this property offers a more modest entry point into a neighbourhood that might otherwise be out of reach.
The lot is notably smaller than the Wildwood average (5,044 sqft vs. 9,032 sqft), so if generous outdoor space is a priority, this isn’t it. But for someone who values location over land—or who prefers a lower-maintenance yard—that trade-off could be a plus. The home’s age (1947) is older than the citywide average (1966), which is typical for this area and often appeals to buyers who appreciate established construction and character, provided they’re prepared for the maintenance a 77-year-old house may require.
This property would suit a buyer who wants to be in Wildwood without paying Wildwood prices. It’s a practical fit for someone who cares more about interior square footage and street-level value than having a big lot or a home that stands out in the neighbourhood. First-time buyers, downsizers, or investors looking for an older home in a stable area may find it worth a closer look.
Frequently Asked Questions
1. How does this home’s assessed value compare to similar properties on the street and in the wider neighbourhood?
On Oakenwald Avenue, the assessed value of $395,000 is slightly above the street average of $380,400, ranking in the top 35%. However, in the Wildwood neighbourhood, the average is $568,200—this home falls well below that, ranking in the bottom 12% locally.
2. Is the living area considered large or small for a home of this age?
At 1,432 sqft, it’s above the citywide average (1,342 sqft) and above the street average (1,283 sqft). Within Wildwood, it’s around the middle of the pack. So it’s a reasonably spacious home for its era and price point.
3. Why is the lot size significantly smaller than the neighbourhood average?
Wildwood has many properties with large lots—averaging over 9,000 sqft—which is well above the city norm. This home’s 5,044 sqft lot is typical for its street but not for the broader neighbourhood. Buyers should not expect expansive outdoor space.
4. What should I know about a home built in 1947?
Homes of this age can have solid construction and character features, but they often need updates to mechanical systems, insulation, windows, and roofing. It’s wise to budget for potential upgrades and get a thorough inspection. The home is older than 76% of properties citywide, so it’s not a “move-in ready” assumption without verification.
5. How does this property rank compared to others citywide?
It lands in the top 34% for living area, top 40% for assessed value, and top 54% for land area citywide. The year built ranks lower (top 76%). Overall, it’s a solidly average-to-above-average home in a desirable neighbourhood, with the main trade-off being a smaller lot relative to its immediate neighbours.