35 Lipton Street – Property Summary

Key Characteristics & Buyer Profile

This 1912 home on Lipton Street in Wolseley stands out most for its interior space. At 2,128 square feet, it ranks in the top 2% of homes on the same street and top 8% citywide—well above the street average of 1,163 sq ft and the Winnipeg average of 1,342 sq ft. The lot is 3,039 square feet, larger than most on the street but below the city average, reflecting an older, denser neighbourhood where yard sizes tend to be modest.

The property's assessed value of $419,000 is above the Wolseley average ($371,000) and roughly in line with the city median, suggesting the home offers notably more interior space per dollar compared to newer, outer-ring neighbourhoods where land accounts for a larger share of value.

The house was built in 1912—typical for Wolseley and the street itself, but significantly older than the citywide average of 1966. Buyers should expect the maintenance considerations that come with a century-old home, including potential updates to mechanicals, insulation, and windows. That said, older homes in this part of the city often feature quality construction, generous room sizes, and established landscaping that newer builds can't replicate.

Ideal for: Buyers who want a spacious older home in a walkable, established central neighbourhood, and who are willing to work on maintenance and updates in exchange for character, location, and square footage that's hard to find at this price point elsewhere in Winnipeg.

Frequently Asked Questions

1. How does this property compare to others currently for sale on Lipton Street or in Wolseley?
It offers above-average living space for both the street and the neighbourhood. Its assessed value is higher than the street median but only slightly above the neighbourhood average, which often indicates that the asking price reflects the square footage rather than recent renovations or premium finishes. It's worth comparing the specific condition and updates of this home against others in the same price range.

2. What should a buyer know about a home built in 1912?
Original homes from this era commonly need updated electrical, plumbing, and insulation. Foundations may be stone or brick rather than poured concrete. The positive side: many 1910s homes have solid old-growth framing, higher ceilings, and unique architectural details that are costly to replicate today. A pre-purchase inspection with a specialist in older homes is strongly advised.

3. The lot is listed as 3,039 sq ft. Is that considered small?
It's typical for the area—Wolseley lots average about 3,400 sq ft. It's larger than most others on Lipton Street (top 20%) but small by citywide standards (bottom 13%). This is normal for a central, older neighbourhood. If a large yard for gardening, a shop, or future expansion is a priority, this lot would feel tight.

4. What homebuying programs or incentives might apply to an older home in a mature neighbourhood?
Some lenders offer renovation mortgages or purchase-plus-improvement loans that allow buyers to roll repair costs into the mortgage. The City of Winnipeg also has a Heritage Revitalization Tax Credit for properties in designated heritage areas (Wolseley is partly covered), which can offset costs of exterior restorations. It's worth checking if this specific home falls within any eligible zone.

5. How is the assessed value of $419,000 determined, and how reliable is it as a price guide?
Assessments reflect the city's estimate of market value as of a base date, not current market conditions. They're based on recent sales of comparable homes, adjusted for size, age, condition, and location. Since this home has above-average square footage for its street and neighbourhood, the assessment likely captures that premium. However, in a slower market, actual sale prices can fall below assessed values, while in a competitive market they can exceed them. The assessment is a useful benchmark but not a final price.