Property Summary: 488 Clifton Street
Key Characteristics & Buyer Profile
This 1,216 sqft home, built in 1913, sits on a 2,398 sqft lot in the Wolseley neighbourhood of Winnipeg. Its living space is notably larger than the average on Clifton Street (top 20%), but smaller than the typical Wolseley home (bottom 77%), making it a solid mid-range option citywide. The assessed value of $265,000 is below both the neighbourhood and city averages, which reflects both the modest land size and the older construction year.
The main appeal lies in the price-to-space ratio. You get a relatively spacious interior for a price that undercuts many comparable homes in the area. This property suits buyers who prioritize square footage and a well-established neighbourhood character over newer finishes, a larger yard, or premium curb appeal. It would be a natural fit for someone looking to get into Wolseley at a more accessible price point, or for an owner willing to invest in updates over time rather than paying a premium for a move-in-ready home.
Five FAQs
1. How does the property’s value compare to others on Clifton Street?
The assessed value of $265,000 is close to the street average of $270,000, ranking 199th out of 355 properties. This suggests it is priced in line with its immediate neighbours, without any significant undervaluation or premium.
2. Is the land size considered small?
Yes. At 2,398 sqft, it is well below the averages for the street, neighbourhood, and city. Within Wolseley, it ranks in the bottom 11% for lot size. Buyers expecting a large yard or significant outdoor space would need to adjust their expectations.
3. What does the 1913 build date mean practically?
The home is older than most on the street and citywide, but it falls within a typical age range for Wolseley, where many homes date to the 1910s. An older home often means more maintenance, potentially outdated systems, and less modern insulation. It also often means original character features that newer homes lack.
4. Who is the ideal buyer for this home?
It works best for a buyer who values interior living space over land size, and who is comfortable with the realities of a century-old home. First-time buyers or small families looking for a manageable footprint in a walkable, established neighbourhood may find the combination of size and price to be a strong fit.
5. What are the trade-offs of buying in this price range within Wolseley?
The main trade-off is space versus land. Many homes in the area cost more and come with larger lots or more modern interiors. Here, you gain a full 1,200+ sqft of living area at a lower price point, but you sacrifice yard size and likely some of the recent renovations that higher-priced listings offer.