906 Palmerston Avenue – Property Summary
Key Characteristics & Appeal
This is a compact, older home in Winnipeg’s Wolseley neighbourhood, built in 1926. Its living area (868 sqft) is notably smaller than average for its street, the neighbourhood, and the city—ranking in the bottom percentiles for size. The lot (3,575 sqft) is also smaller than typical for the street and citywide, though it is above average within Wolseley itself.
The property’s appeal lies in its assessed value relative to its surroundings. While the home is modest in size, its assessment of $475,000 is significantly above both the neighbourhood average ($371,300) and the citywide average ($390,100). On Palmerston Avenue, it falls around the middle, but in Wolseley it ranks in the top 13% of assessed value. This suggests the location and the property’s character—rather than square footage—are driving its worth.
This home would best suit buyers who prioritize neighbourhood character, walkability, and older construction over interior space. It’s a fit for someone who values a smaller footprint, perhaps a couple, single person, or downsizer, and who is comfortable that the lot and house are compact. It may also appeal to those looking for a property in a well-regarded central Winnipeg neighbourhood where the land itself has good relative value by local standards.
Frequently Asked Questions
1. Why is the assessed value so much higher than the neighbourhood average when the house is smaller?
The value likely reflects the desirability of the Wolseley area, the age and character of the home, and possibly recent renovations, location on the street, or lot attributes. Assessed value is not solely based on square footage—it factors in broader market conditions for the neighbourhood.
2. How does the lot size compare to others in Wolseley?
At 3,575 sqft, the lot is above the neighbourhood average of 3,434 sqft and ranks in the top 30% for Wolseley. However, it is smaller than the average lot on Palmerston Avenue (5,522 sqft) and well below the citywide average (6,570 sqft).
3. Is the 1926 build date a concern for condition or maintenance?
The property is older than the citywide average (1966) but is typical for Wolseley, where the average build year is 1916. While age can bring maintenance needs, older homes in this area often have solid construction and character features. A home inspection would clarify the specific condition of systems, foundation, and roof.
4. How does this property rank compared to others on Palmerston Avenue?
On the street level, it ranks around the middle for build year and assessed value, but below average for living area and lot size. It is not an outlier on the street, but it is clearly one of the smaller homes in terms of square footage.
5. Who is this property not ideal for?
This may not suit buyers looking for a large family home, generous living or entertaining space, or a large yard. It also may not appeal to those seeking a newer build with lower immediate maintenance concerns. If a buyer prioritizes interior square footage or a large lot above all else, there are likely better options elsewhere.