78 Lipton Street – Property Overview
Key Characteristics & What to Know
This is a 1942-built home in Wolseley with 1,248 sq. ft. of living space on a 3,114 sq. ft. lot. Its assessed value sits at $402,000.
The appeal here is a combination of street-level value and character. On Lipton Street, the home ranks in the top 7% for assessed value and top 11% for age—meaning it’s one of the older, more valuable homes on the block. The lot is also generous relative to the street (top 15%). However, at the neighbourhood and city levels, the picture shifts. The living area is below average for Wolseley, and the lot is smaller than typical citywide (86th percentile means most Winnipeg lots are larger). The year built, while a selling point for those who appreciate pre-war construction, is considered old by city standards.
Who it suits: Buyers who want a well-valued home on a strong street within a desirable neighbourhood, and who prioritise older character over modern square footage. It’s less suited for someone seeking a large lot or a house that blends in with newer, larger homes elsewhere in the city. This property appeals to those who know Wolseley’s premium is about location and streetscape, not raw space.
Frequently Asked Questions
1. How does the living area compare to other homes on the street?
It’s around average—1,248 sq. ft. ranks in the top 34% of homes on Lipton Street. The street average is 1,163 sq. ft., so this home is slightly above that benchmark.
2. Is the assessed value high for the area?
Yes, particularly on the street itself. The $402,000 valuation is in the top 7% of Lipton Street homes, well above the street average of $250,200. It’s also above the Wolseley neighbourhood average of $371,300, but closer to the citywide comparable average of $390,100.
3. Why is the lot size considered a strong point on the street but weak citywide?
Lipton Street lots average 2,677 sq. ft., and this home’s 3,114 sq. ft. lot is larger than most on the block (top 15%). But Winnipeg has many newer subdivisions with much bigger lots—the city average is 6,570 sq. ft.—so by that measure, it’s small. It’s a classic older neighbourhood trade-off.
4. What does “year built” mean for maintenance or character?
Built in 1942, this home is one of the older ones on Lipton Street (top 11%) and in Wolseley (top 5%). That often means solid construction, mature trees, and period details, but also potential for older systems (plumbing, electrical, insulation) that could need updating. Buyers should factor that into their inspection and budget.
5. How does this property rank in Wolseley compared to the rest of the city?
It holds its own. In Wolseley, it’s above average for assessed value and lot size (top 29% and 46%, respectively), and elite for age. Citywide, it’s around average for living area and value, but below average for lot size and age. The real strength is the street-level positioning—it’s a standout on Lipton Street.