470 Craig Street – Property Summary
Key Characteristics & Ideal Buyer Profile
This is a 1,148-square-foot house built in 1913, located on Craig Street in the Wolseley neighbourhood of Winnipeg. The assessed value is $278,000.
The property holds a few notable advantages. Its year of construction is significantly older than the citywide average of 1966, which places it among the earliest homes on the street (top 7%) and in the neighbourhood (top 30%). For buyers who value pre-war character, original craftsmanship, or a home with history, this is a strong point.
The living area is around average for the street and the city as a whole, but below the neighbourhood average of 1,622 square feet. The lot is on the smaller side—2,191 square feet—ranking in the bottom 1% citywide and in the neighbourhood. This means the property is efficient in footprint but offers limited outdoor space compared to typical Wolseley lots.
Where the home stands out is value relative to the neighbourhood. Its assessed value is well below the Wolseley average of $371,300, and also below the citywide average of $390,100. For a buyer looking to enter Wolseley—a historically popular, central neighbourhood—without paying the typical premium, this represents a more accessible price point. The trade-off is a smaller lot and living area.
This property would suit a buyer who prioritises location and character over square footage and yard space. First-time buyers, downsizers, or anyone interested in a home with early-20th-century bones—and who is comfortable with the maintenance that often comes with an older house—would find this worth a look. It’s less suited to someone wanting a large modern floor plan or a generous lot.
Frequently Asked Questions
1. How does the assessed value compare to similar homes nearby?
On Craig Street, the assessed value is slightly below average (ranked 30 out of 61). In Wolseley as a whole, it's well below the neighbourhood average—about $93,000 less—and also below the citywide average for comparable homes. This makes it one of the more affordable options in the area.
2. Is the lot size a limitation for a typical family home?
Yes. At 2,191 square feet, the lot is smaller than nearly all properties on the street (ranked 58 out of 61) and in the bottom 1% citywide. The neighbourhood average is 3,434 square feet, and the citywide average is 6,570 square feet. Outdoor space is limited, so this is a key consideration for anyone wanting a large garden, garage, or room for additions.
3. What does the year built (1913) mean in practical terms?
The house is over 110 years old. It predates the vast majority of Winnipeg homes (90% of city properties were built later). This likely means original materials, construction methods, and design details that appeal to heritage-minded buyers. It also means potential for older systems (plumbing, electrical, insulation) that may need updating or have already been upgraded—worth verifying through an inspection.
4. How does the living area compare to other homes in Wolseley?
At 1,148 square feet, it's below the Wolseley average of 1,622 square feet—ranking in the bottom 19% of the neighbourhood. On Craig Street specifically, it's close to the average of 1,171 square feet. So it's typical for the immediate street but compact relative to much of the surrounding area.
5. What type of buyer tends to choose a home with these characteristics?
Typically, buyers who value central neighbourhood access, walkability, and older character—and are willing to accept a smaller footprint and lot size in exchange. It often appeals to people who prefer to spend less on housing overall or who are priced out of larger homes in Wolseley. It's less common for buyers looking for a large family home with room to grow.