472 Telfer Street S – Property Summary
Key Characteristics & Suitability
This is a compact, older home in Winnipeg’s Wolseley neighbourhood built in 1909. At 821 square feet, the living area is notably smaller than most homes on its street, in its neighbourhood, and across the city—ranking in the bottom 10 to 24 percent depending on the comparison. The land is also modest at 2,515 square feet, well below citywide averages.
What stands out is the assessed value. At $329,000, it ranks in the top 29 percent on Telfer Street, and sits around average for Wolseley and the city. That’s an interesting disconnect: the property is small and old, yet valued higher than many larger, newer neighbours. This suggests the appeal lies less in space or modernity, and more in location, character, or lot potential within an established area.
The home would best suit a buyer who values being in Wolseley—a neighbourhood known for its tree-lined streets, older housing stock, and proximity to the river and downtown—over square footage. It may also appeal to someone open to renovation, given the age and small footprint, or to an investor attracted by the assessed value relative to size. It is less suited for anyone needing generous living space or expecting a large yard.
Five Possible FAQs
1. The living area is small compared to other homes. Will that be a problem for resale?
It depends on the buyer pool. Wolseley has many smaller, older homes, so the size is not unusual for the neighbourhood. However, it ranks below average even here, so future buyers will likely be people specifically seeking a compact home or a lower entry price in the area, not families needing extra room.
2. The assessed value is higher than average for the street but the home is older and smaller. Why?
Assessed value considers more than just square footage and year built—location, lot desirability, recent sales of similar homes, and overall market demand all play a role. In a neighbourhood like Wolseley, older homes often hold value due to character and centrality, even if they’re physically smaller.
3. The year built is 1909. Should I expect more maintenance than a newer home?
Generally, yes. Older homes can have outdated systems, less insulation, and potential issues with foundations or wiring. But many have been updated over time. You’d want a thorough inspection to see what’s original and what’s been replaced. Some buyers actually seek out pre-war construction for its craftsmanship and materials.
4. The land area is below average for the neighbourhood. Does that limit expansion options?
It depends on the zoning and setbacks, but a 2,515-square-foot lot is modest. Adding a significant addition or developing a secondary suite may be constrained compared to larger lots on the street. If expansion is a priority, you’d want to check local bylaws before committing.
5. Why does the ranking show some comparisons as “below average” and others as “around average”?
The rankings compare this property against different peer groups—other homes on the same street, in the same neighbourhood, and across the entire city. For example, on Telfer Street, this home’s value ranks well, but its land size is closer to the middle of the pack. The same measure can look strong in one comparison and weaker in another because the baseline group changes.