508 Telfer Street S – Property Summary

Key Characteristics and Buyer Profile

This is a 1,080 sqft single-family home built in 1910, located in Winnipeg’s Wolseley neighbourhood. The property sits on a 2,515 sqft lot.

Its main appeal is entry-level affordability within an established, older neighbourhood. The assessed value is $239,000, which is noticeably below both the street average ($293,000) and the Wolseley average ($371,000). That gap is the central selling point: you’re buying into an area with character and mature surroundings at a price point that undercuts most of the local market.

The home is smaller than the typical Wolseley house (1,080 sqft vs. a neighbourhood average of 1,622 sqft), and the lot is also compact by local standards. The building is older than most homes on its street (1910 vs. a street average of 1923), and well older than the citywide average of 1966. That likely means maintenance and updates are something to budget for.

This property would suit a first-time buyer or someone looking for a lower-cost entry into Wolseley, who values location over square footage and is comfortable with an older home. It’s less suited to someone seeking move-in-ready space or a larger lot for expansion, as the land is constrained.

Five Possible FAQs

1. How does the property’s size compare to other homes in the area?
The 1,080 sqft living area is close to the average on Telfer Street (1,140 sqft) but well below the Wolseley neighbourhood average of 1,622 sqft. The lot (2,515 sqft) is smaller than the street average of 3,000 sqft and significantly smaller than the citywide average of 6,570 sqft.

2. Why is the assessed value so much lower than the neighbourhood average?
The assessed value of $239,000 reflects the home’s smaller size, older construction, and compact lot relative to other properties in Wolseley. It ranks in the bottom 5% of the neighbourhood by assessed value, which mainly indicates the home is a budget-friendly option in an otherwise higher-valued area.

3. What does the 1910 build year mean in practical terms?
It means this is an older home, even by the standards of Wolseley (where the average build year is 1916). Compared to the citywide average of 1966, it’s over 50 years older. Potential buyers should expect some systems (plumbing, wiring, roof) to be original or older, and factor in possible renovation needs. The ranking on the street (68th out of 82) suggests many of the neighbouring homes have been updated or are newer.

4. Is the street itself considered desirable?
The data doesn’t speak directly to desirability, but the fact that the property ranks in the bottom 17% of the street by assessed value suggests it’s one of the more budget-conscious options on Telfer Street. The street average value ($293,000) is already below the neighbourhood average, meaning Telfer Street itself is more affordable than much of Wolseley.

5. How does this property compare to others in its price range citywide?
At $239,000 assessed, it sits in the bottom 15% of residential properties across Winnipeg. By living area (1,080 sqft), it’s slightly below the citywide average of 1,342 sqft. The main trade-off is that you get a home in an older, central neighbourhood at a price where you’d often end up further from the core or in a newer subdivision with less character.