486 Dominion Street – Property Summary
Key Characteristics & Buyer Profile
This is a large, older home in Winnipeg’s Wolseley neighbourhood that stands out for its size and assessed value relative to everything around it. With 2,500 square feet of living space, it ranks in the top 2% on its street and top 3% citywide—meaning it’s significantly larger than most comparable homes in Winnipeg. The assessed value of $684,000 is equally striking: top 1% on Dominion Street and top 4% across the city, reflecting both the home’s size and likely its condition or upgrades. The land parcel is also generous for the area (4,967 sqft, top 6% on the street), though not unusually large by citywide standards.
The catch is the age. Built in 1912, this is an older structure—among the oldest on its street (top 93% for year built) and well below the citywide median of 1966. That means buyers should expect the quirks, maintenance demands, and character that come with a century-old house. The appeal here is space and equity potential in a desirable central neighbourhood, not turnkey convenience.
This property would suit buyers who value interior square footage over modern finishes, who are comfortable with older-home upkeep, and who see long-term value in a high-assessed property on a quiet, established street. It’s less appropriate for someone seeking a move-in-ready, low-maintenance home or a compact urban footprint. The rankings suggest the home is already priced above its peers, so future appreciation may depend more on renovations or neighbourhood trends than on being undervalued.
Frequently Asked Questions
1. Why is the assessed value so much higher than the street and city averages?
The assessed value of $684,000 is nearly 2.4 times the street average of $286,200 and well above the city average of $390,100. This likely reflects a combination of the home’s large living area, a generous lot for Wolseley, and possibly significant upgrades or a secondary suite. Assessed value is based on market conditions and physical attributes, not just neighbourhood averages.
2. How does the age of the home affect practical ownership?
A 1912 build means you’re looking at older electrical, plumbing, and insulation unless they’ve been updated. The ranking (top 93% oldest on the street) confirms this is among the older homes in the area. Budget for ongoing maintenance, potential foundation or roof work, and possibly higher heating costs. That said, Wolseley has many older homes, so trades experienced with vintage construction are available locally.
3. Is the lot size a positive or a limitation?
At 4,967 sqft, the lot is in the top 6% on Dominion Street and top 8% in the neighbourhood—genuinely large for Wolseley. But citywide, it’s only around average (top 57%). So you get a generous yard for the area, but not enough to subdivide or build a second house in most cases. It’s good for gardens, a garage, or outdoor living, not for major development.
4. How does this property compare to others in Wolseley specifically?
Wolseley’s average living area is 1,622 sqft, and the average assessed value is $371,300. This home is roughly 50% larger and nearly double the assessed value. The lot is also above average for the neighbourhood. So it’s an outlier within Wolseley—more space and higher value than most nearby homes, but also older than the neighbourhood median build year of 1916.
5. What does the “top 2%” or “elite” ranking really mean?
These rankings compare this property to a pool of “comparable homes” in each geographic scope—likely single-family houses in similar condition and style. “Elite” means it falls in the top tier of that comparison. It’s a useful benchmark, but not a guarantee of quality or investment return. For example, being top 2% for living area doesn’t mean the layout works well for your needs. Always pair rankings with an in-person visit and your own priorities.