490 Telfer Street S

1. Key Characteristics & Buyer Profile

This is a 1,110-square-foot house built in 1911, located on Telfer Street South in Winnipeg’s Wolseley neighbourhood. It sits on a 2,515-square-foot lot. The property’s assessed value is $274,000.

The house is a solid, middle-of-the-road option for its street, but it’s notably smaller and on a more modest lot than the typical home in the wider Wolseley area. Compared to the rest of Winnipeg, it’s an older home (the city average build year is 1966), and its lot is significantly smaller than the city norm. The assessed value sits below both the community and city averages, which often translates into lower property taxes.

The appeal here is practicality and entry-level access to a desirable, established central neighbourhood. Wolseley is known for its tree-lined streets, older character homes, and walkable proximity to shops and the river. This property offers a foothold in that area without the premium price tag of a fully renovated or larger period home. It would suit a buyer who values location and community character over square footage, and who is comfortable with the realities of an older home—either a first-time buyer or someone who sees the smaller footprint and lower tax base as a trade-off for living in a sought-after, mature area.

2. Five Possible FAQs

Q: How does the size of this property compare to others on the same street?
A: The living space is very close to the street average of 1,140 square feet, ranking in the top 59% for size. The lot is slightly smaller than the street average of 3,000 square feet. So, while the house size is typical, the yard is a touch smaller than your immediate neighbours.

Q: Why is the assessed value lower than the community average?
A: The home is both smaller and on a smaller lot than the typical property in Wolseley (which averages 1,622 sq. ft. of living space on a 3,434 sq. ft. lot). Since assessed value is heavily based on size and lot value relative to the area, these two factors primarily account for the difference.

Q: What does being built in 1911 mean practically for a buyer?
A: It means the house predates most modern building codes. Buyers should budget for older systems (plumbing, electrical, foundation) and potential insulation deficiencies. However, it also means the home likely has the solid framing, tall baseboards, and craftsmanship often found in pre-war construction, which can be an appealing feature that newer homes lack.

Q: How does this property’s land size affect its future potential?
A: At 2,515 square feet, the lot is well below the citywide average. This limits the potential for major additions or subdividing. For a buyer, it suggests a property best suited for enjoying the existing home and yard, rather than one with speculative redevelopment value based on land assembly.

Q: Is this a good investment compared to other homes in Wolseley?
A: The lower assessed value relative to the community means a lower tax burden, which is a practical advantage. However, because the house and lot are smaller than the Wolseley average, its resale value may not appreciate at the same rate as larger, more typical homes in the same area. It’s likely a stable asset, but not a high-growth one.