Key Characteristics & Buyer Profile
534 Basswood Place is a 1911 home with 1,234 square feet of living space on a 3,298 square foot lot. Its assessed value is $308,000. On its own street, the home’s size is close to the average, and its assessed value is also near the middle of the pack. Within the Wolseley neighborhood, however, the home is smaller than average, and its assessed value is on the lower side. The lot is slightly larger than the street average but smaller than typical for the city. The building is older than most homes in Winnipeg and slightly older than the average for its street, placing it among the older homes in the neighborhood.
The appeal here is a solid, unflashy home in a well-established inner-city neighborhood with character. It’s not the biggest or most expensive house on the block, nor the smallest. It sits comfortably in the middle, offering a realistic entry point into a desirable area without the premium attached to top-tier properties. This would suit a buyer who values neighborhood character and location over turnkey perfection or maximum square footage. Someone who appreciates the patina of an older home, is willing to work with its quirks, and wants a place that feels grounded rather than over-improved. It’s less suited for someone looking for a large family home or a modern, low-maintenance property.
Five Possible FAQs
1. How does the tax assessment compare to similar homes?
The assessed value of $308,000 is close to the average for the street and below both the neighborhood and city averages. That suggests the property is priced moderately relative to its peers, which could mean a lower tax burden than many comparable homes nearby.
2. Is the small lot a concern for this area?
The lot is 3,298 square feet—slightly bigger than the average for the street but smaller than typical for the city. In an older central neighborhood like Wolseley, smaller lots are common and often reflect the original subdivision patterns. It’s enough for a garden and outdoor space, but not for major expansion.
3. What does the 1911 build date mean in practical terms?
It predates most homes in Winnipeg, so the buyer should expect older systems (plumbing, electrical, foundation) that may need attention. However, it also places the home among the older stock on its street, which often means it’s part of a streetscape with mature trees and consistent character. A thorough inspection is essential.
4. How does this home stack up against others in Wolseley?
It’s smaller and assessed lower than the neighborhood average. The home is in the bottom quartile for living space in the area. That’s not a flaw—it just means it’s a more modest offering in a neighborhood that includes many larger, pricier homes. It’s a solid starter or downsizer option.
5. Why are the rankings different for land, size, and value?
Each metric compares the home against a different pool. The land is above average for the street but not for the city. Living space is average on the street but low for the neighborhood. Assessed value is consistent across all comparisons. This suggests the home’s value is in its setting and bones rather than its raw size or premium finishes.