Here is a clean, standalone summary of the property at 1-230 Home Street.
Key Characteristics & Ideal Buyer Profile
This is a 1,934 sqft home built in 1910 on a 3,313 sqft lot in Winnipeg’s Wolseley neighborhood. Its standout feature is value density. The assessed value of $504,000 places it in the top 5% on its street and top 10% in the neighborhood, yet the home’s living area is only in the top 26% locally. This suggests the value is driven less by sheer square footage and more by premium finishes, location, or the size and quality of the structure relative to its neighbors.
The lot is notably large for the street (top 8%), but small by citywide standards. This is typical for a mature, inner-city neighborhood like Wolseley, where land is scarce and demand is high. The 1910 build date is older than average for the city (top 94% oldest), which means it likely has the character, solid construction, and mature landscaping common to pre-war homes, but also may require more upkeep than a newer build.
The appeal lies in a combination that is hard to find: a prime, older neighborhood lot with a home that already commands elite-level valuation. This is not a fixer-upper priced for its land value—it is a property that has already been improved or is in a micro-location that commands a premium.
This property suits a buyer who values locality and quality over raw space. It is ideal for someone who wants to live in Wolseley, appreciates early 20th-century architecture, and is willing to pay for a home that outperforms its peers in assessed value. It would likely appeal to professionals or families who prioritize being close to the river, the Exchange District, and local amenities, and who are comfortable with the realities of a century-old home (such as higher heating costs or needing to budget for older systems). It is less suitable for a buyer seeking the largest possible home for the money or a large suburban lot.
Five FAQs
1. Why is the assessed value so high compared to the average for the street and neighborhood?
The assessed value is in the top 5% on the street ($504,000 vs. an average of $242,700) and top 10% in Wolseley. This likely reflects a combination of factors: a larger-than-average living area for the street, a highly desirable location within Wolseley (perhaps on a quieter block or with access to the riverbank), and significant renovations or high-quality finishes that drive the per-square-foot value well above the neighborhood norm.
2. Is a 1910 build a risk, or a selling point?
It is both. In a city like Winnipeg, a home this old places it in the top 6% oldest citywide. The selling point is quality: many pre-1920 homes feature old-growth lumber, thicker plaster walls, and unique architectural details like transom windows, deep baseboards, and likely a well-established garden. The risk is aging infrastructure: expect to look at the condition of the electrical, plumbing, insulation, and the foundation. The high assessed value suggests these have been managed, but it is important to verify.
3. How does the lot size compare to others in Wolseley?
The 3,313 sqft lot is slightly smaller than the neighborhood average (3,434 sqft), but it is significantly larger than the average for the immediate street (2,787 sqft). You are getting a good chunk of land relative to your immediate neighbors, giving you more private outdoor space than most homes on the block. However, it is small compared to a typical Winnipeg suburban lot (average 6,570 sqft).
4. What does the “Top 12%” for living area citywide actually mean?
It means that for all comparable homes across Winnipeg, this home is in the 88th percentile for size. It is a large home by citywide standards. The more revealing comparison is the neighborhood ranking (top 26%) and the street ranking (top 17%). This tells you the home is big for Winnipeg, but within its expensive, desirable neighborhood, it is closer to average size.
5. Would this property be a good investment for future resale?
The data suggests strong relative value retention. It is already in the elite tier of assessed values on its street. For resale to hold up, the key factors to watch are the condition of the home relative to the neighborhood average age, and the desirability of Wolseley itself. A home that is already a top-10% performer in a stable, established neighborhood like Wolseley is generally lower-risk than a comparable home on the city's fringe. The risk would be if the neighborhood’s desirability fades or if the home requires major capital expenditures (roof, furnace, foundation) that are not reflected in its current high valuation.