463 Stiles Street

463 Stiles Street – Property Summary

Key Characteristics & Buyer Profile

This is a 1922-built home with 792 square feet of living space on a 2,479-square-foot lot. Its strongest feature is the construction year: on Stiles Street, it ranks in the top 8% for age, and in the Wolseley neighbourhood it sits in the top 21%, meaning it’s older than most nearby homes. The assessed value of $296,000 is around average for the street but notably below the neighbourhood average of $371,300 and the citywide average of $390,100. The living area and lot size are both on the smaller side relative to Wolseley and Winnipeg as a whole.

The appeal here is value-driven. The property offers a relatively low entry point into Wolseley, a neighbourhood where averages skew higher. The below-average square footage and lot size may deter buyers looking for space, but the older home likely has character features common to Wolseley’s pre-war housing stock. This would suit a buyer who prioritizes location and affordability over interior square footage or a large yard—for example, a first-time buyer, someone downsizing, or an investor open to a renovation that maximizes the existing footprint rather than expanding it. The street-level data shows this home is competitive on value within Stiles Street specifically, even if it falls behind neighbourhood and city benchmarks.

Five Possible FAQs

1. Why is the assessed value above the street average but below the neighbourhood and city averages?
The street average of $294,100 is pulled down by a mix of smaller or older homes, so $296,000 sits near the middle. Wolseley as a whole has higher-valued homes—averaging $371,300—and the citywide average is $390,100, so this property is modestly priced in both broader contexts.

2. How does being built in 1922 affect maintenance or renovation potential?
An older home like this may have solid construction and period details, but systems like electrical, plumbing, and insulation may need attention. The age ranking (top 8% on the street) suggests neighbours are newer, so there could be less immediate pressure to update if you’re comfortable with the existing condition.

3. Is the small lot size a dealbreaker for Wolseley?
It depends. Wolseley lots average 3,434 square feet, and the city average is much larger at 6,570 square feet. A 2,479-square-foot lot limits outdoor space and expansion possibilities, but it also means less yard maintenance—an advantage for someone who doesn’t need a large garden.

4. What does the "below average" living area ranking mean practically?
At 792 square feet, this home is smaller than most on the street (average 1,170 sq ft) and in the neighbourhood (average 1,622 sq ft). You get less square footage for the price, which can be offset by a lower purchase cost—but you may need to be strategic about layout or consider an addition if more space is required.

5. How does this property compare to others in the same price range citywide?
Citywide, the median assessed value for comparable homes is $390,100, and the median living area is 1,342 square feet. At $296,000 and 792 square feet, this home sits well below both medians. It’s priced for its size and age rather than for any premium—meaning you’re paying less per square foot than the average citywide home, but also getting significantly less square footage.