486 Basswood Place

Here is a clean, standalone summary of the property at 486 Basswood Place.

Property Summary: 486 Basswood Place

This 1910-built home in Wolseley offers 962 sq. ft. of living space on a 2,748 sq. ft. lot. Its assessed value is $325,000.

Key Characteristics & Buyer Profile

The property’s main appeal is its price point. The $325,000 assessment is considered around average for its street and neighborhood, and below the citywide average for comparable homes. This positions it as a relatively accessible entry point into Wolseley, a historic and desirable central Winnipeg neighborhood known for its character, tree-lined streets, and community feel.

Living in a home of this size (962 sq. ft.) and vintage (1910) likely means dealing with a classic Winnipeg floor plan—smaller rooms, less square footage than many modern builds, and the quirks of an older structure. The lot is also below average for the area, meaning a smaller yard and less outdoor space than neighboring properties.

The appeal here is not about size or grandeur. It’s about location and value. This property would suit a buyer who prioritizes being in a walkable, established central neighborhood over having a large home or a big yard. It would be a strong fit for a first-time buyer, a downsizer, or someone willing to invest in the character and maintenance of an older home. The less obvious perspective: a smaller footprint on a modest lot in a place like Wolseley can mean lower maintenance and utility costs, and more time to enjoy the neighborhood’s amenities rather than the house itself.

Five Possible FAQs

1. How does this home compare to other properties on Basswood Place?
   This home is smaller in living area (ranked 51 out of 53) and sits on a smaller lot (ranked 38 out of 53) than most houses on the street. It was also built slightly earlier than the street average of 1913. Its assessed value, however, is right around the middle of the pack.

2. Is Wolseley an expensive neighborhood?
   Not compared to the city as a whole. While the average home value in Wolseley ($371,300) is slightly below the citywide average ($390,100), the key takeaway is that this particular property is assessed below the neighborhood average.

3. What does the 1910 build year mean for me practically?
   A 1910 home will have older construction methods and materials. You can likely expect plaster walls, a different foundation type, and potentially an older electrical or plumbing system. It may also have greater energy loss than a newer home. On the upside, it likely has solid old-growth lumber, high ceilings, and a layout typical of the era.

4. Why is the lot size significant?
   At 2,748 sq. ft., this is a small lot by any standard. It falls below the average for the street, neighborhood, and is significantly smaller than the citywide average for comparable homes (6,570 sq. ft.). This means a small backyard and likely limited space for gardening, sheds, or a large deck.

5. Would this be a good investment property?
   It could be, depending on your strategy. Its below-average price in a desirable, established neighborhood suggests potential for steady appreciation over the long term. However, the small size and lot may limit its appeal as a single-family rental versus a larger home. The age of the home also suggests higher ongoing maintenance and capital expenditure costs.