66 Walnut Street – Property Summary
Key Characteristics & Buyer Fit
This is a 1,838-square-foot home built in 1907, located in Winnipeg’s Wolseley neighbourhood. The property sits on a 2,341-square-foot lot.
The home’s main strengths are its living space and assessed value relative to its street and neighbourhood. At 1,838 square feet, it is larger than the average home on Walnut Street (1,723 sqft) and well above the citywide average for comparable homes (1,342 sqft). Its assessed value of $429,000 is significantly higher than the street average ($337,500) and above the neighbourhood average ($371,300), which suggests the home has retained or gained value relative to nearby properties. Citywide, the value sits near the middle of the pack.
The trade-offs come with the lot size and age. The lot is below average for the street, neighbourhood, and city. At 2,341 square feet, it’s notably smaller than the Wolseley average of 3,434 sqft and far below the citywide average of 6,570 sqft. The home was built in 1907, making it older than most homes in the area (the neighbourhood average is 1916) and considerably older than the citywide average of 1966. Buyers should expect the maintenance and quirks that come with a century-old house, and the small lot means limited outdoor space and room for expansion.
This property would best suit a buyer who values interior space and established character over a large yard or modern construction. It may appeal to someone who wants a home with good bones in a walkable, older neighbourhood, and who is comfortable with ongoing upkeep. It is less suited for families wanting a large lawn or for buyers seeking a move-in-ready, low-maintenance property.
Frequently Asked Questions
1. How does the assessed value compare to similar homes, and what does that mean for property taxes?
The assessed value of $429,000 is above the street and neighbourhood averages but right around the citywide average for comparable homes. Property taxes are calculated based on the assessed value and the city’s mill rate, so the taxes will be higher than on a home valued at $337,500, but not out of line for a home of this size in Winnipeg. It’s worth checking the current mill rate to estimate the exact amount.
2. What are the main considerations with a house built in 1907?
Older homes often have plaster walls, knob-and-tube wiring (or outdated electrical), cast iron plumbing, and less insulation. The foundation and roof may also be original or updated. Buyers should budget for a thorough home inspection, including a sewer scope and electrical assessment. Renovations may need to meet modern building codes, which can add costs.
3. The lot is small for Winnipeg. What does that mean in practice?
A 2,341-square-foot lot limits possibilities for a garage, large garden, or outdoor entertaining. It may also affect future resale value, as many buyers in Wolseley expect more yard space. On the positive side, smaller lots mean less yard work and lower maintenance costs. It’s best to measure the actual outdoor area and think about how you plan to use it.
4. How does this home compare to others currently for sale in Wolseley?
Wolseley has a mix of older homes on modest lots, but this one has a larger-than-average interior and a higher assessed value, which may indicate recent upgrades or a desirable location on the street. However, the lot is on the smaller side even for this neighbourhood. Comparing specific listings side by side on the neighbourhood map will give a clearer picture.
5. Is this a good investment property?
It depends on your goals. The above-average living space and value relative to the street suggest good resale potential, but the small lot and older construction could limit appreciation compared to homes with larger lots or newer builds. Rental income would likely be strong for the area, but factor in higher maintenance costs due to the age of the home. A full cash flow analysis and inspection are recommended before committing.