498 Stiles Street – Property Summary
Key Characteristics and Buyer Profile
This is a 1911 home in Wolseley with 1,166 square feet of living space on a 2,456-square-foot lot. Its assessed value is $262,000. The property sits slightly below average for its street in both living area and value, and is noticeably below neighborhood and city averages for lot size and assessment. However, the house itself is older than most in the city (top 93% citywide by age), which reflects a character-home feel common in this area.
The appeal here is affordability relative to the Wolseley market. Buyers get into a desirable central neighbourhood at a price point well below the neighborhood average of $371,300. The trade-off is a smaller lot and a home that may need updating. This suits buyers who prioritize location and potential over move-in-ready finishes—first-time buyers, renovators, or those willing to invest sweat equity. The below-average assessment also suggests room for value growth if improvements are made. It’s less suitable for someone seeking a large yard or a house that doesn’t require work.
Frequently Asked Questions
1. How does this property compare to others on Stiles Street?
It’s around average for living area and year built, but below average in assessed value and lot size. It ranks 49th out of 64 homes on the street by value, meaning it’s one of the more affordable options.
2. Is the lot size a concern for this neighbourhood?
Yes, relative to Wolseley. The lot is 2,456 sqft, while the neighbourhood average is 3,434 sqft. Citywide, it’s in the bottom 3% for lot size. This is typical for older infill or character homes near the core, but it limits yard space and expansion potential.
3. What does the assessed value tell me about the home’s condition?
Assessment reflects market value, not condition directly. The below-average value for the neighbourhood suggests either a smaller home, less updated interior, or a less desirable location within Wolseley. It doesn’t automatically mean poor condition, but it’s a signal to inspect carefully.
4. How old is the house, and what does that mean for maintenance?
Built in 1911, it’s older than 93% of homes in Winnipeg. This likely means original character details (trim, windows, possibly plaster walls), but also potential issues with aging electrical, plumbing, foundation, or insulation. A thorough inspection is strongly recommended.
5. Is this a good investment property?
Possibly, if you’re comfortable with renovation. The purchase price is low for Wolseley, and the neighbourhood has strong long-term demand. However, the small lot limits redevelopment potential, and older homes can have unpredictable repair costs. It’s better suited as a primary residence with upside than a passive rental play.