174 Chestnut Street – Property Summary
Key Characteristics & Buyer Profile
This is a 1910-built home in Winnipeg’s Wolseley neighbourhood with 1,932 square feet of living space on a 3,225-square-foot lot. Its assessed value is $495,000.
What stands out is how the property performs relative to its street, neighbourhood, and city. The living area ranks in the top 13% citywide, which is genuinely spacious by Winnipeg standards. The assessed value is high for the street (top 6%) and neighbourhood (top 11%), but dips to top 21% citywide, which is still above average but less exceptional. The lot size is typical for Chestnut Street and Wolseley but small compared to the city as a whole (top 85% means most homes have significantly more land). The home is among the older ones on its street but very old relative to the city average—built 56 years before the median Winnipeg home.
The appeal lies in the combination of generous interior space and an older, character-house feel in an established central neighbourhood. The lot is modest for anyone wanting a large yard, but the living area is generous for a home of this era. It’s a house that has likely been updated or well-maintained to command its assessment ranking.
This property would suit buyers who:
- Prioritize interior square footage over outdoor space.
- Are comfortable with an older home’s maintenance demands and quirks.
- Want to be in a walkable, central neighbourhood with mature trees and character.
- Have a budget above the typical home in Wolseley or on Chestnut Street—the assessed value is well above both averages.
A less obvious point: the high living area combined with a relatively small lot often means the house takes up most of the lot, which can limit future additions or major landscaping. It’s a trade-off that suits people who live indoors more than outdoors.
Frequently Asked Questions
1. How does the home’s age compare to others nearby?
It’s older than average on Chestnut Street (ranked top 18%, meaning most homes are newer), and roughly in line with the Wolseley neighbourhood average. Citywide, it’s significantly older—only about 6% of Winnipeg homes were built earlier.
2. Is the assessed value a reliable estimate of market value?
Assessed value is used for property tax purposes and may not match the current market. However, ranking in the top 6% on its street and top 11% in the neighbourhood suggests it’s one of the higher-valued homes in the immediate area. Buyers should still compare recent sale prices in Wolseley.
3. What does “top 34%” for living area on the street actually mean?
It means the home is larger than about two-thirds of comparable homes on Chestnut Street. The street average is 1,810 sqft, so at 1,932 sqft, it’s noticeably roomier but not extreme.
4. How common is a 3,225 sqft lot in Wolseley?
Very common. The neighbourhood average is 3,434 sqft, so this lot is slightly smaller than typical. But citywide, Winnipeg lots average over 6,500 sqft, so anyone coming from a newer suburban subdivision may find the yard tight.
5. What are the main trade-offs of buying an older house like this?
The advantages are character construction, solid materials (often old-growth wood), and a central location. The drawbacks include potential for outdated electrical, plumbing, or insulation; higher heating/cooling costs; and less flexibility for open-concept renovations without significant work. The small lot also limits expansion.