1561 Wolseley Avenue W – Property Summary
Key Characteristics & Appeal
This is a 1924 home with 728 sqft of living space and a 2,799 sqft lot, located on Wolseley Avenue West in Winnipeg. Its assessed value is $255,000.
The property’s main draw is affordability relative to its surroundings. The assessed value is significantly below the street average of $514,700 and the neighbourhood average of $386,400, placing it in the bottom tier for value in West Wolseley. For a buyer looking to enter a well-established, older inner-city neighbourhood at a below-market price point, this is a clear entry point. The home is also older than much of the city’s housing stock, but the year built is consistent with other homes on the same street, meaning it fits the area’s character rather than standing out as unusually dated.
The small living area and modest lot size will not suit everyone. The 728 sqft footprint is less than half the street average, and the lot is under 3,000 sqft—well below the typical 5,947 sqft for the street. In a neighbourhood where larger homes on bigger lots are common, this property offers a more compact, potentially lower-maintenance alternative.
Who it suits: First-time buyers who cannot afford the area’s median prices, downsizers who want to stay in West Wolseley without the upkeep of a large house, or investors looking for a lower-cost property in a desirable older neighbourhood with established character. It is less suited to families needing space or buyers seeking a home with typical street-level curb appeal or yard size.
Five Possible FAQs
1. Why is the assessed value so much lower than other homes on the same street?
The assessed value reflects both the small square footage and the modest land area relative to neighbours. Many homes on Wolseley Avenue W are larger, newer, or sit on bigger lots, which pushes the street average up. This property’s $255,000 assessment is in line with its smaller size and older condition, not necessarily a sign of major defects.
2. Is the house too small for a family?
At 728 sqft, it is comparable to a one-bedroom apartment with extra space. It may work for a couple or a single person, but most families would find it tight. Some buyers have turned similar-sized houses in the area into two-bedroom layouts, but that would require reconfiguring the existing floor plan.
3. How does the land size affect future use or resale?
The 2,799 sqft lot is below the neighbourhood average but not unusual for older infill lots in Winnipeg. It limits expansion possibilities—adding a garage or a large addition would be difficult. Buyers should expect a modest yard with limited privacy from neighbours. Resale will likely appeal to the same buyer profile: those prioritizing location over space.
4. What is the condition of a 1924 home? Should I expect major repairs?
The listing does not provide inspection details, but a home of this age typically has older electrical, plumbing, and foundation systems. Many 1920s homes in Wolseley have been updated over time, but some retain original features that may need attention. A pre-purchase inspection is strongly recommended, especially for knob-and-tube wiring, lead pipes, and foundation settling.
5. How does this property compare to other listings in West Wolseley?
Most homes in the area are larger and higher-valued, with median assessed values around $386,000 and average living areas over 1,300 sqft. This property is an outlier in terms of size and price. It offers a way into a sought-after neighbourhood for significantly less than typical entry points, but it also means accepting a smaller, older, and less updated home than what most buyers in the area are looking for.