118 Lipton Street – Property Overview
Key Characteristics & Buyer Profile
This 1912 home in Wolseley offers 1,715 square feet of living space on a 3,113-square-foot lot. It’s assessed at $310,000.
The property stands out most on its own street. On Lipton Street, it ranks in the top 10% for living area and top 17% for assessed value. The house is noticeably larger and slightly more valuable than immediate neighbours. Within the broader Wolseley neighbourhood, however, it lands closer to average in both size and value. Citywide, the living area is above average, but the lot is on the smaller side—ranking only in the top 86%—which reflects the tighter footprint common in older inner-city areas.
The building is over a century old, which gives it character but also means it’s older than most homes in Winnipeg (the citywide average year built is 1966). The lot size is generous for the street but below the citywide average, so outdoor space is modest by suburban standards.
Who it suits: Someone who values being in Wolseley—a walkable, established neighbourhood—and wants more interior space than many nearby homes offer. It also appeals to buyers who see a century home’s age as a feature rather than a drawback, and who don’t need a large yard. The assessed value being below the neighbourhood and city averages (relative to similarly sized homes) could reflect a more accessible price point for the area, but the older construction may mean ongoing maintenance considerations.
Frequently Asked Questions
1. How does this home compare to others on Lipton Street?
It’s one of the larger homes on the street, ranking in the top 10% for living area. Its assessed value is also above average for the street (top 17%), and the lot is bigger than most neighbours’ (top 16%). So it stands out locally.
2. Is the assessed value of $310,000 considered high for Wolseley?
No—it’s around average for the neighbourhood, where the average is $371,300. Citywide, it’s also around average. The value is strong for the street, but not unusually high for the area.
3. How old is the house, and is that a concern?
Built in 1912, it’s older than most homes in Winnipeg (top 92% by age citywide). In Wolseley, the average home was built around 1916, so it’s typical for the neighbourhood. Age often brings solid construction and character, but buyers should budget for updates to systems (plumbing, electrical, insulation) and ongoing upkeep.
4. What’s the lot size like compared to other properties?
At 3,113 square feet, the lot is bigger than most on Lipton Street but smaller than the citywide average (6,570 sq ft). It’s about average for Wolseley. You get a decent backyard for the street, but not the large yard you’d expect in newer suburban developments.
5. What type of buyer would find this property most suitable?
Someone who wants a larger-than-average home in a walkable, established neighbourhood without paying a premium for a massive lot. It works well for buyers who appreciate older character and are comfortable with the maintenance that comes with a century home, or for those looking for a home that’s a bit more spacious than nearby options on a quieter street.