1061 Palmerston Avenue – Property Summary
Key Characteristics & Buyer Suitability
This is a 1926 home in Winnipeg’s Wolseley neighbourhood with 920 sq ft of living space on a 3,262 sq ft lot. Its assessed value is $369,000.
Where the appeal lies: The property sits in a historically rich area, among older homes that give the street character. It’s not the biggest or most expensive on the block—that’s the point. The living space is below average for the street and neighbourhood, but it’s also modest compared to much of Winnipeg. For someone who values location and era over square footage, this could be a solid fit. The build year (1926) is older than the city average, but actually newer than many homes in Wolseley, placing it in the top 13% of the neighbourhood for age. That means it may have been built after the initial boom, possibly with slightly more modern bones.
What type of buyer it suits: Someone looking for an entry point into Wolseley without paying for a fully renovated showpiece. It’s likely a fixer-upper or a home that needs updating, but the assessed value is close to the neighbourhood average—suggesting it’s priced realistically for the area. Buyers who value walkability, mature trees, and a strong community feel over a large footprint will find this appealing. It’s less suited for those needing a lot of space or a large lot.
Frequently Asked Questions
1. How does the living space compare to other homes in Wolseley?
It’s below average. The neighbourhood average is around 1,622 sq ft, so this home is roughly 43% smaller. That said, it’s not unusual for older homes in the area to be more compact.
2. Is the assessed value of $369,000 reasonable for the area?
Yes. It’s very close to the Wolseley average of $371,000 and slightly below the city average of $390,000. On the street itself, it’s well below the average of $588,000, largely because Palmerston Avenue has some larger, more expensive homes pulling that number up.
3. How old is the house, and has it been updated?
Built in 1926. The data doesn’t indicate specific renovations, but being newer than most homes in Wolseley (average 1916) could mean the original structure is in slightly better shape. Buyers should still budget for updates to systems, insulation, and finishes.
4. What is the lot size, and is that a limitation?
The lot is 3,262 sq ft, which is below the city average (6,570 sq ft) but close to the neighbourhood norm (3,434 sq ft). It’s typical for the area—not especially spacious, but enough for a small yard, garden, or patio. Street side, it’s significantly smaller than the Palmerston average of 5,522 sq ft.
5. Is this a good investment property?
Possibly, depending on your goals. The assessed value suggests it’s not overpriced relative to the neighbourhood. If purchased at or near assessment, there may be room for equity growth through improvements. However, the smaller square footage and lot size could limit resale appeal to a narrower buyer pool. It may work best as a starter home or rental in a sought-after neighbourhood, rather than a high-flip opportunity.