511 Stiles Street – Property Summary
Key Characteristics & Buyer Profile
This is a 1911-built home in Winnipeg’s Wolseley neighbourhood, with 1,234 sqft of living space on a 2,875 sqft lot. Its assessed value sits at $242,000.
Where the property stands out is the lot: it ranks in the top 8% on its street for lot size, which is notably large relative to immediate neighbours. The living area and year built are about average for the street and neighbourhood, though the home is older than most citywide. The assessed value is below average at every level—street, neighbourhood, and city—which reflects both the modest square footage and the age of the building, but also means the entry price is lower than much of the surrounding area.
The appeal here is less about turnkey polish and more about potential. A larger-than-expected lot on an older house in Wolseley suggests room for a renovation or extension, or simply the benefit of outdoor space in a central neighbourhood. The home would suit a buyer who values location and land over move-in condition—someone handy, or willing to take on a project over time. It may also appeal to someone looking for a smaller, more affordable single-family home within a sought-after older neighbourhood, without paying a premium for a fully updated property.
Frequently Asked Questions
1. How does the assessed value compare to similar homes nearby?
The home is valued below the street average ($294,000), the neighbourhood average ($371,000), and the citywide average ($390,000). This puts it in the bottom tier for assessed value across all three levels, which often keeps property taxes relatively low but may also signal limited recent updates.
2. Is the lot really that much bigger than other homes on the street?
Yes. At 2,875 sqft, it ranks 5th out of 64 homes on Stiles Street, placing it in the top 8%. However, within the broader Wolseley neighbourhood, lot sizes average 3,434 sqft, so it’s only about average relative to the whole area—meaning the lot stands out more locally than citywide.
3. The home was built in 1911—should that be a concern?
That’s typical for Wolseley, where the median build year is 1916. Many homes in this area are of similar vintage. What matters more is the condition of the foundation, wiring, plumbing, and insulation—these are worth a close inspection. The age alone isn’t unusual for the neighbourhood, but it is older than most homes across Winnipeg (citywide average is 1966).
4. What kind of renovation potential does this property offer?
The living area (1,234 sqft) is slightly above the street average but below the neighbourhood average, so there’s potential to add square footage—especially if the lot allows for an addition. The larger lot also provides outdoor space for a garage, garden, or studio, though any structural work should be verified against zoning and setback rules.
5. Who typically buys homes like this in Wolseley?
Often it’s first-time buyers looking for an affordable entry into a central neighbourhood with character, or more experienced homeowners seeking a property they can gradually improve. Investors or flippers may also be interested if the price-to-potential ratio is right. The low assessed value relative to land size hints at a property where the land itself is a significant part of the value.