496 Telfer Street S, Winnipeg

Key Characteristics & Buyer Profile

This is a 1,684 sqft home on a 2,515 sqft lot, built in 1905, with an assessed value of $385,000. It sits on Telfer Street in the Wolseley neighbourhood.

The property's main appeal is its living space. At 1,684 sqft, it ranks in the top 6% on its street and top 22% citywide. For a house from 1905, that's generous square footage—likely meaning older construction with solid bones, but also the potential for layout quirks or renovation needs. The assessed value of $385k sits slightly above the street average ($293k) but right around the citywide average ($390k), suggesting the size is recognized in the price without pushing it into premium territory.

The lot is small—2,515 sqft places it in the bottom 5% citywide. That's typical for older urban infill neighbourhoods like Wolseley, where deep but narrow lots are common. Don't expect a large yard. The age (1905) puts it among the older homes in a neighbourhood already full of century-old houses. That could mean charming original details, but also systems that need updating.

This home suits buyers who:

• Prioritize interior living space over outdoor space
• Are comfortable with an older home (or specifically want one)
• Want to be in Wolseley, a walkable, character-rich central neighbourhood
• Can afford ongoing maintenance typical of a 120-year-old house
• See potential in updating or restoring rather than buying move-in ready

Five Possible FAQs

1. Is this a good investment for the Wolseley area?
Wolseley has been a consistently desirable neighbourhood in Winnipeg—close to the river, the Forks, and Osborne Village. The assessed value here ($385k) is roughly in line with the citywide average, not overpriced relative to location. Older homes in Wolseley often hold value well, but returns depend heavily on the condition of the foundation, roof, and mechanicals, which aren't shown in this data.

2. Why is the lot size so small compared to other Winnipeg homes?
This is typical for early 20th-century infill neighbourhoods. Homes built before widespread car ownership were placed on smaller lots, often with narrow frontages. You're trading yard space for a central location and proximity to amenities. If a large garden or garage space is essential, this property likely won't work.

3. What should I expect from a house built in 1905?
Likely lath and plaster walls, knob-and-tube or updated wiring (check), galvanized plumbing or copper (check), and possibly original woodwork or leaded glass. The framing is almost certainly dimensional lumber, often denser than modern materials. Insulation may be minimal or absent. Budget for system upgrades even if the house looks finished.

4. How does the assessed value relate to market price?
Assessed value is a rough guide, not a firm price. The city uses it for tax purposes, and it often lags behind market conditions. In a competitive market like Wolseley, the sale price could be above the assessed value if the house is well-maintained or below if it needs significant work. Use $385k as a starting point, not a ceiling.

5. Is the living area measurement reliable for a 1905 home?
City records for older homes can be inconsistent—some include finished basements, some don't, and some measurements were estimated decades ago. If accurate, 1,684 sqft is genuinely large for a pre-war house in this area. A home inspection and your own tape measure (or a professional measurement) are worth the time before making an offer.