896 Palmerston Avenue – Property Summary

Key Characteristics & Buyer Profile

This 1913 home in Wolseley offers 2,034 square feet of living space on a 3,240-square-foot lot. Its assessed value is $555,000. The property stands out most for its interior size and assessed value relative to the neighbourhood and city. Citywide, it ranks in the top 10% for living area and top 12% for assessed value. Within Wolseley, it ranks in the top 7% for value and top 21% for square footage.

The appeal lies in the combination of generous interior space and strong value retention. While the lot is smaller than average for the street and city, it is typical for the neighbourhood. The home is older than most on Palmerston Avenue, but Wolseley itself is an established area with many early 1900s homes, so the age is not unusual there. The assessed value is above the neighbourhood median but below the street median, meaning it offers more space for the money compared to typical properties on the same block.

This property would suit buyers looking for a roomy character home in a mature, walkable Winnipeg neighbourhood who prioritize interior space over a large yard. It may also appeal to someone who values a home that has held its value well relative to the surrounding market.

Frequently Asked Questions

1. How does this property’s age compare to other homes in the area?
The home was built in 1913, which is older than the average on Palmerston Avenue (1932). However, in Wolseley, the average year built is 1916, so this home is consistent with the character of the neighbourhood and older than about 70% of homes citywide.

2. Is the lot size considered small for the neighbourhood?
Yes and no. On Palmerston Avenue, it is smaller than most (average lot is 5,522 sqft). But within Wolseley, the lot is about average (neighbourhood average is 3,434 sqft). So it’s typical for the area, but smaller than many newer suburban properties.

3. Why is the assessed value higher than the neighbourhood average but lower than the street average?
The street average ($588,400) is pulled up by a few higher-value properties, while the neighbourhood average ($371,300) includes a wider mix of homes, some with smaller living areas. This property’s above-average living space and location within Wolseley explain its value being well above the neighbourhood norm.

4. How does the living area compare to other homes in Winnipeg?
This home is in the top 10% citywide for living area among comparable properties. The average living area for comparable homes in Winnipeg is 1,342 sqft, so this home is roughly 50% larger than typical.

5. What does the ranking system mean by "top X%"?
The ranking compares this property to similar homes within the same street, neighbourhood, and city. A top 10% ranking means it outperforms 90% of comparable homes in that category. For example, a top 10% living area ranking means only 10% of comparable homes citywide have more square footage.