Key Characteristics & Ideal Buyer Profile
This is a 1928 home with 1,216 sq. ft. of living space on a 2,829 sq. ft. lot, located on Palmerston Avenue in the Wolseley neighbourhood. Its strongest feature is the building’s age relative to its surroundings. The home was built later than most nearby houses—ranking in the top 9% of the community for newer construction—which means it avoids some of the maintenance issues common to older Wolseley properties while still fitting the area’s historic character.
The property’s appeal lies in its relative affordability within the neighbourhood. Its assessed value (used for tax purposes) is $379,000, which is very close to the Wolseley average of $371,000 and well below the Palmerston Avenue average of $588,000. In other words, it offers entry into a desirable street at a below-average price point. This is partly driven by the small lot—one of the smallest on the street—which keeps the land cost down.
What this is not: it is not a spacious family home or a fixer-upper with expansion potential. The lot is tight, and the living area is below both the street and community averages. Buyers should expect a compact footprint with limited room to grow outward.
This property suits first-time buyers or downsizers who want to be in central Wolseley but are priced out of its larger, more expensive homes. It also works for someone who values a newer (by local standards) structure and is less concerned about having a large yard or extra square footage. It’s a point of entry, not a forever home—unless a smaller footprint is exactly what’s wanted.
Frequently Asked Questions
1. How does the property’s assessed value compare to what I might actually pay?
The assessed value of $379,000 is for property tax purposes and reflects the city’s estimate as of a recent base year. Sale prices can differ based on market conditions, but this assessment suggests the home is priced below the Palmerston Avenue average. It is a reasonable starting point for understanding the property’s relative value, not a strict sale price prediction.
2. Is the 1928 construction a concern for maintenance or insurance?
Homes built in 1928 are older than the Winnipeg average (1966), but newer than most in Wolseley (average 1916). This means it likely has some original features but is less likely to have the severe structural or foundation issues common to pre-1910 houses. Insurance costs may be slightly higher than for a new build, but less than for a much older home. A thorough home inspection is always recommended.
3. Why is the lot so small compared to others on the street?
At 2,829 sq. ft., it ranks in the bottom 6% on Palmerston Avenue. This is typical of infill lots or properties that were subdivided at some point. The advantage is lower land cost and less yard maintenance. The trade-off is limited space for additions, gardening, or outdoor entertaining.
4. Does the below-average living area mean the home feels cramped?
The 1,216 sq. ft. is below the street average (1,711 sq. ft.) but above the Winnipeg average (1,342 sq. ft.). It is a comfortable size for one or two people, or a small family that prioritizes location over space. The floor plan matters—if it’s well laid out, it will feel larger than the number suggests.
5. Would this property be a good investment?
As an entry point into a desirable neighbourhood at a below-average assessed value, it has potential for gradual appreciation. However, the small lot limits upside relative to larger properties on the same street. It is more of a lifestyle purchase than a high-yield investment. Long-term value will depend on neighbourhood trends and any interior upgrades you make.