455 Greenwood Place – Property Summary
Key Characteristics & Buyer Profile
This is a stately 1909 home on Greenwood Place in Winnipeg's Wolseley neighbourhood, with 2,526 square feet of living space on a 4,083-square-foot lot. Its assessed value is $540,000.
The property's strongest asset is its size. It ranks in the top 1% for living area on its street, top 4% in the neighbourhood, and top 3% citywide. The assessed value is also well above local averages: top 2% on the street and top 8% in Wolseley. The lot is larger than most in the immediate neighbourhood (top 14%), though smaller than the citywide average for comparable homes.
Where the home falls short is its age. Built in 1909, it's one of the older houses on Greenwood Place and older than the average home across Winnipeg. That said, Wolseley is known for its historic character, so an older build is the norm there, not an outlier.
The appeal lies in getting a genuinely large home in a desirable central neighbourhood without paying a premium for a newer build. You're trading modern construction for interior space and a lot that's generous by Wolseley standards. The assessed value suggests the market already recognizes this trade-off.
This would suit buyers who value square footage and location over turn-key modernity—people comfortable with the maintenance and quirks of a century home, and who want to be in an established, walkable part of the city. It's less suited to someone looking for a low-maintenance new build or a large yard by suburban standards.
Frequently Asked Questions
1. How does the home's age actually affect things like insurance and maintenance?
With any pre-1910 home, expect older wiring, plumbing, and foundation systems—some may have been updated, some not. Insurance premiums can be higher, and some insurers may require an electrical or plumbing inspection before issuing a policy. Budget for ongoing maintenance, not just cosmetic updates. The age also means lead paint and knob-and-tube wiring are possibilities, so a thorough inspection is essential.
2. Why is the lot considered "below average" on the street but "above average" in the neighbourhood?
The street-level ranking compares the lot to other homes on Greenwood Place, where the average lot is 4,805 square feet—so this one is smaller than its immediate neighbours. But in the wider Wolseley neighbourhood, the average lot is 3,434 square feet, so this property's 4,083-square-foot lot is larger than most in the area. It's a matter of perspective: small for the street, generous for the neighbourhood.
3. Is an assessed value of $540,000 a good deal or overpriced?
Assessed value isn't market price—it's the city's estimate for tax purposes, which often lags behind actual sale prices. In a competitive market like Wolseley, homes can sell above assessed value. The fact that this property ranks in the top 2% for assessed value on its street suggests it's already valued highly relative to its neighbours. Whether it's a deal depends on its condition and how it compares to similar homes sold recently in the area.
4. How does the living area compare to typical homes in Wolseley?
The average living area in Wolseley for comparable homes is 1,622 square feet. At 2,526 square feet, this house is roughly 56% larger than the neighbourhood average. That's a significant difference—enough to feel spacious in a way most Wolseley homes do not. If you're used to the tighter floor plans common in older central neighbourhoods, this would feel like a notable upgrade in space.
5. What should I look for specifically in a 1909 home during a showing?
Focus on the foundation (cracks, moisture, settling), the roof age and condition, and the electrical panel—especially if it still has fuses rather than breakers. Check for uneven floors, which can indicate foundation issues or sagging joists. Also look at the windows: original wood windows may be beautiful but drafty; replacements can be expensive. And ask about knob-and-tube wiring—if it's still active, that's a safety concern and a negotiating point. A good inspector with experience in historic homes is not optional here.