510 Sprague Street — Property Summary
Key Characteristics & Buyer Profile
This 1,732 sqft home sits in Winnipeg’s Wolseley neighbourhood. Built in 1921, it offers above-average living space both on its street (top 6%) and citywide (top 20%), with an assessed value of $430,000. The lot is 3,936 sqft—slightly smaller than the city average but generous for Wolseley, where it ranks in the top 18% for land area.
The appeal here is straightforward: you get a larger-than-typical house in an older, character-rich neighbourhood without paying a premium for extra land you may not need. The year built (1921) places it among older homes on the street, but it’s actually newer than many Wolseley properties, which average 1916. This suggests the home may have been built during a later wave of development, potentially with more modern construction standards than some of its neighbours.
This property would suit buyers who value interior space and want to be in a well-established central neighbourhood like Wolseley—close to the river, schools, and local amenities—but who don’t require a massive yard. It’s a good fit for families or professionals looking for a solid, older home with room to grow, rather than a fixer-upper on a large lot. The assessed value sits above the street and neighbourhood averages, reflecting the larger living area; it’s not a bargain in the traditional sense, but the price per square foot may work in a buyer’s favour compared to smaller homes in the same area.
Five Frequently Asked Questions
1. How does the assessed value compare to what I might actually pay?
The city assessed value of $430,000 is a benchmark, not a sale price. It ranks above average for Sprague Street (top 14%) and the neighbourhood (top 22%). In a competitive market, homes with strong living-area rankings often sell slightly above assessed value, especially if they’re well-maintained. However, the lot size is smaller than the city norm, which can temper bidding in a slower market.
2. Is the heat and electrical system likely to be original given the 1921 build date?
Not necessarily. Many homes from that era have been updated at least once. Buyers should plan for a home inspection that specifically reviews the age of the furnace, electrical panel, and plumbing. In Wolseley, it’s common to find knob-and-tube wiring in unrenovated homes—but the fact that this property ranks in the top 6% for street-level living area may suggest additions or renovations have already taken place.
3. Why is the lot size considered “below average” citywide but “above average” in the neighbourhood?
Citywide averages include newer suburban homes and developments with large, sprawling lots (6,570 sqft on average). In older central neighbourhoods like Wolseley (average lot 3,434 sqft), a 3,936 sqft lot is spacious. This means you get more outdoor space than most neighbours, without paying for a size that requires significant upkeep.
4. Is Wolseley known for character homes or teardowns?
Wolseley is primarily a character-home neighbourhood, with many early 1900s houses still intact and valued for their original detailing. Teardowns happen but are less common than in areas with smaller, less distinctive housing stock. Given this home’s above-average living area and street ranking, it’s likely a solid structure rather than a candidate for demolition.
5. What does the “top 84%” year-built ranking on the street actually mean?
It means this home is older than 84% of the houses on Sprague Street. On the street itself, the average build year is 1923, so this property is slightly older than that. However, compared to the wider Wolseley area, it’s actually newer than average (top 24%). In practical terms, you’re buying an older home on a street of mostly older homes—but not the oldest one there.