505 Telfer Street S – Property Summary
Key Characteristics & Buyer Fit
This is a 1927 home with 986 square feet of living space on a 3,185 sqft lot. Its strongest feature is its age: built in 1927, it ranks in the top 24% on its street and the top 11% within the Wolseley neighbourhood for its era. For buyers who value pre-war character, older construction, or a home with established landscaping and mature trees, this stands out.
The property’s appeal lies in its positioning within Wolseley—a neighbourhood known for its older homes, walkability, and community feel. The lot size is average for the street but smaller than typical citywide lots, which reflects an older, denser urban area rather than suburban sprawl. The assessed value ($291,000) sits near the street average and well below the neighbourhood and city averages, which could appeal to buyers looking for a lower entry point in a desirable inner-city pocket.
This property would best suit a buyer who prioritises location and character over square footage. It may not be ideal for someone seeking a large, modern open floor plan or a big backyard. First-time buyers, renovators, or those looking to get into Wolseley at a relatively accessible price point should take a closer look. The living area is below the neighbourhood and city averages, so expect cosy, possibly compartmentalised rooms typical of the era.
Frequently Asked Questions
1. Is the home move-in ready or does it need work?
That depends on your standards. The data does not include specific renovation history. Given its 1927 construction, you should budget for potential updates to mechanicals, windows, insulation, and possibly foundation work. A home inspection is strongly recommended.
2. How does the property compare to others currently on the market in Wolseley?
It’s smaller in living area than the neighbourhood average (1,622 sqft) and sits on a slightly smaller lot than the neighbourhood norm (3,434 sqft). Its assessed value is well below the Wolseley average ($371,300), positioning it as one of the more affordable options in the area.
3. What is the property tax situation?
The assessed value is $291,000. Property taxes in Winnipeg are based on this assessment. You should verify the current mill rate and any applicable tax increases or phase-ins with the city or your realtor, as assessments change annually.
4. What does “ranked top 11% in the neighbourhood for year built” actually mean for a buyer?
It means the home is older than most in Wolseley. While this can signal craftsmanship and character, it also means you’re likely dealing with an older roof, furnace, electrical, and plumbing. These are not necessarily problems, but they warrant a closer look and possibly a specialized inspection for older homes.
5. Is the lot size sufficient for additions, a garage, or a garden?
At 3,185 sqft, it’s typical for the street but smaller than many city lots. You likely have a modest front and back yard. Whether you can add a detached garage or an extension depends on zoning setbacks, lot coverage limits, and the condition of existing structures. Check with the city of Winnipeg’s planning department before making plans.