208 Lipton Street – Property Summary
Key Characteristics & Appeal
This is a 1,477-square-foot home on a 2,828-square-foot lot, built in 1911 and currently assessed at $393,000. What stands out most is the assessed value relative to the street. On Lipton Street itself, this property ranks in the top 8% for value, well above the street average of $250,200. That suggests the home has been upgraded or maintained more than its immediate neighbours, or that it offers something the others don’t—more living space (top 19% on the street) is likely part of it.
At the neighbourhood level (Wolseley), the home sits around average for both living area and assessed value. The lot is below average for the neighbourhood (top 71%) and well below the citywide average, which tends toward much larger suburban lots. That’s typical for an older, established central neighbourhood—space is tighter, but the trade-off is walkability, character, and mature trees.
This property would suit a buyer who values being in an older, in-demand central neighbourhood (Wolseley) and is willing to accept a smaller lot in exchange for a home that already has above-average square footage and a higher assessed value than most on its block. It’s not a fixer-upper candidate from a value standpoint on the street, but the 1911 build year means someone buying here should be comfortable with the realities of an older home—maintenance, potential updates, and possibly less efficient systems.
Five Frequently Asked Questions
1. How does the assessed value compare to similar homes nearby?
On Lipton Street, the home is in the top 8% for assessed value, meaning it's one of the higher-valued properties on the block. Within Wolseley, it's in the top 32%—solid but not exceptional for the area.
2. Is the lot size typical for Wolseley?
No. The lot is 2,828 square feet, which ranks in the bottom 29% for the neighbourhood (top 71%). Many Wolseley lots are larger, averaging 3,434 sqft. If you're after a big yard, this property is not that.
3. What does the 1911 build year mean practically?
The home is older than most in Winnipeg (top 93% of homes citywide are newer). That often means solid construction and character details, but also potential for older wiring, plumbing, and insulation. A home inspection is strongly recommended, especially for a house of this vintage.
4. How does the living space compare to other homes on the street?
The home has 1,477 sqft of living area, which is above average for Lipton Street (1,163 sqft) and ranks in the top 19%. It's slightly below the Wolseley average of 1,622 sqft, but still competitive. For a central neighbourhood, that's a comfortable amount of space.
5. Would this be a good investment property?
Given the above-street-average assessed value and strong street ranking, the home appears to already hold value well relative to its immediate neighbours. For Wolseley as a whole, it's around average, which suggests stable but not explosive appreciation potential. It's more suited as a solid primary residence than a speculative flip, unless there are further upgrades that could push it higher within the neighbourhood rankings.