74 Queenston Street – Property Summary

Key Characteristics & Buyer Profile

This 1923 home offers 1,766 square feet of living space on a 4,300-square-foot lot, located on Queenston Street in Winnipeg’s Wellington Crescent area. The property stands out most for its assessed value. At $568,000, it ranks in the top 11% citywide and top 20% on its street, suggesting strong underlying value relative to many other homes in Winnipeg. Its living area is also above the city average, placing in the top 18% citywide, though it’s only around average for its specific street and neighborhood. The land area, however, is notably smaller than both the street and neighborhood averages—sitting in the bottom quartile locally. The home is older than most, built in 1923, which places it among the oldest 5% of homes on Queenston Street.

The appeal here is two-fold. First, the assessed value is competitive for a home of this size and age, especially for buyers who prioritize square footage over a large yard. Second, the property offers the character of an older home (likely with original details) without the premium often attached to smaller, more centrally located lots in similar neighborhoods. The trade-off is clear: you get more interior space than the city norm for the price, but less outdoor space and an older structure that may require updates. This property would suit a buyer who values interior square footage and is comfortable with a smaller lot and the maintenance that comes with a century home. It’s less ideal for someone seeking a large family yard, a newer build, or a home that’s already been fully modernized.

Five Frequently Asked Questions

1. How does this property’s assessed value compare to similar homes nearby?
   The assessed value of $568,000 is above the average for Queenston Street ($494,600) and well above the citywide average for comparable homes ($390,100). However, it’s below the Wellington Crescent neighborhood average of $805,600, meaning it’s a more affordable entry point into this area.

2. The land area seems small for the neighborhood. What does that mean in practice?
   At 4,300 square feet, the lot is smaller than most on the street (average 4,997 sqft) and significantly smaller than the neighborhood average (9,488 sqft). Expect a modest yard with less room for gardens, play areas, or expansion. The home’s footprint likely takes up a larger share of the lot, leaving less green space.

3. Is the 1923 year built a concern for maintenance or insurance?
   Older homes often have durable construction (like plaster walls, hardwood floors, and solid framing) but can require updates to electrical, plumbing, insulation, and roofing. Insurance premiums may be slightly higher, and some lenders have stricter requirements for century homes. A thorough home inspection is advisable, focusing on the foundation, wiring, and windows.

4. Why is the assessed value high while the land area is low?
   Assessed value weighs both the structure and the land. In this case, the 1,766-square-foot living area is above average for the city and the street, which lifts the overall value. The smaller lot softens the value somewhat, but the larger house compensates. Location on Queenston Street also plays a role, as the street itself has higher average values than many others in Winnipeg.

5. How does this home rank compared to others in Winnipeg overall?
   Citywide, the property ranks well: top 11% for assessed value, top 18% for living area, and top 69% for land area. It’s among the older homes (top 86% oldest citywide), but the combination of size and value makes it stand out. For a buyer looking at the entire city, this is a large, valuable home on a modest lot.