Here is a clean, standalone summary of the property at 513 Basswood Place.
Key Characteristics & Buyer Profile
This is a 1911 character home in Wolseley with 1,484 sq. ft. of living space on a 2,750 sq. ft. lot. Its most striking feature is its assessed value: ranked #2 out of 53 homes on Basswood Place (top 4%), and in the top 15% of the neighbourhood. This value is well above the street average of $336,900, suggesting a property that has been well-maintained or thoughtfully updated compared to its immediate neighbours.
The appeal lies in a trade-off. You get a home that holds its value strongly on the street and within a desirable central neighbourhood, but the lot size (2,750 sq. ft.) is considerably smaller than the citywide average (6,570 sq. ft.) and below the Wolseley average. The 1911 build date is also typical for the area—not a standout feature, but part of the neighbourhood’s charm for those who appreciate older construction.
This property suits a buyer who prioritizes location and asset value over yard space. It’s a strong fit for someone who wants a home in a walkable, established neighbourhood (Wolseley) and is willing to accept a compact lot. It is less suitable for those needing a large garden, a newer build, or maximum square footage for the price.
Five Possible FAQs
1. Is this a tear-down or a turn-key property?
The assessed value ranking suggests it is not a fixer-upper relative to its street. Properties that rank in the top 4% for value typically reflect recent renovations or exceptional upkeep. However, to be sure, you would need to verify the condition of the mechanical systems (furnace, roof, windows) and the foundation, which is common for a home from 1911.
2. How does the year built affect things practically?
At 114 years old, this is older than the Winnipeg average (1966) but on par with many Wolseley homes. Practical considerations include checking for knob-and-tube wiring, lead pipes, and the type of insulation. Older homes often have better craftsmanship and character (e.g., solid wood trim, plaster walls) but require more diligent maintenance.
3. Why is the assessed value so high on this street?
The street-level ranking (2 out of 53) indicates a significant gap between this property and the typical Basswood Place home. This could be due to a major kitchen or bathroom reno, a finished attic or basement, or structural upgrades like a new roof or updated electrical. The city assessment suggests the home’s condition is above the norm for the immediate area.
4. What am I giving up with a smaller lot?
You gain less yard work and likely a more private, low-maintenance outdoor space. What you give up is a large lawn, space for a big garden, or room for a future garage or extension (depending on zoning). In Wolseley, many residents prioritize proximity to the river, shops, and cafes over a large backyard.
5. How does this home compare to others in Wolseley?
Living area (1,484 sq. ft.) is around average for the neighbourhood (1,622 sq. ft. average). Your value is well above the neighbourhood average, meaning you are getting strong equity in a sought-after area. The main compromise is the lot size, which is in the bottom third of Wolseley. You are paying for the house condition and the location, not the land.