490 Sprague Street – Property Summary
Key Characteristics & Buyer Profile
This is a 995-square-foot home built in 1921, located on Sprague Street in Winnipeg’s Wolseley neighbourhood. The lot measures 3,937 square feet. Compared to nearby homes, this property stands out for its land rather than its house size: the lot is above average for the neighbourhood (top 17%), while the living area is below average at every level—street, neighbourhood, and citywide. The assessed value sits around $381,000, which is very close to the average for both the street and the neighbourhood.
The appeal here is less about move-in-ready space and more about potential. A smaller-than-typical house on a larger Wolseley lot is a relatively uncommon combination in this area, where lots tend to be more uniform. For a buyer who values outdoor space, garden potential, or the possibility of a future addition or redevelopment, this property offers something that many nearby houses do not. It also benefits from being in an established, walkable neighbourhood with older character homes—though the house itself is older than most citywide averages, it fits right in with Wolseley’s typical building stock.
This home would suit a buyer who is comfortable with a smaller interior footprint and sees the lot as a primary asset. It may be less ideal for someone seeking maximum square footage or a turnkey modern interior unless they are prepared to renovate or expand.
Frequently Asked Questions
1. How does the living area compare to other homes in Wolseley?
At 995 square feet, this home is below the neighbourhood average of 1,622 square feet. It ranks in the bottom 10% of comparable homes in Wolseley, so it is one of the smaller houses in the area.
2. Is the assessed value in line with what similar homes are worth?
Yes. The assessed value of $381,000 is slightly above the street average ($367,200) and neighbourhood average ($371,300), but close to both. It is slightly below the citywide average for comparable homes ($390,100), which suggests the valuation is reasonable for the location and property size.
3. How old is the property, and is that unusual for the neighbourhood?
Built in 1921, the home is older than the Wolseley neighbourhood average of 1916—meaning it is newer than many of its immediate neighbours. Citywide, however, it is much older than the average home (built around 1966). In Wolseley, older homes are the norm, so this is not unusual for the area.
4. What is the lot size, and why is that significant?
The lot is 3,937 square feet. While slightly below the Sprague Street average (4,129 square feet), it is well above the Wolseley neighbourhood average of 3,434 square feet—ranking in the top 17% locally. This makes the lot a stronger asset than the house itself, especially in a neighbourhood where larger lots are less common.
5. What type of buyer would get the most value from this property?
A buyer who values outdoor space, gardening, or future expansion potential more than immediate interior square footage. The smaller house on a relatively large lot is a combination that is hard to find in Wolseley. It could also appeal to someone looking for a character neighbourhood at a lower entry price point for the land, provided they are comfortable with a modest, older home as-is or with renovation plans.