1065 Palmerston Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1926-built home with 872 square feet of living space on a 3,262 sqft lot, located in the Wolseley neighbourhood of Winnipeg. The property’s biggest strengths are its age and location within Wolseley—it’s older than most homes on the street and significantly older than the citywide average, which appeals to buyers who value character and established neighbourhoods. The assessed value ($332,000) sits well below the street average but is close to neighbourhood and city medians, suggesting the price reflects the smaller size rather than location discount.

The living area (872 sqft) is notably compact, ranking in the bottom percentiles across all three comparison levels. The lot is also smaller than the street and city averages, though it’s around average for Wolseley itself. This is not a home for someone needing large rooms or a sprawling yard. However, the tight size and modest lot mean lower upkeep and utility costs, and the property sits in a mature, walkable area with established trees and older housing stock.

This property would suit first-time buyers looking for an affordable entry into Wolseley, downsizers who want character without square footage, or anyone willing to invest sweat equity into a home that’s structurally sound but smaller than typical. The key trade-off is trading space for location and vintage.

Frequently Asked Questions

1. Is this a fixer-upper or a move-in-ready home?
That depends on condition, which the raw data doesn’t capture. The age (1926) and below-average assessed value relative to the street suggest it may need updates, but the citywide assessed value is average, meaning it’s not priced as a distressed property. A home inspection is essential.

2. How does the property compare to other Wolseley homes?
It’s typical for the neighbourhood in lot size and assessed value, but its living area is significantly smaller than most Wolseley homes (872 sqft vs. a 1,622 sqft neighbourhood average). It’s a true “small house” in an area where larger homes are the norm.

3. What’s the property tax situation likely to be?
Based on the assessed value of $332,000, taxes would follow the standard Winnipeg rate for that bracket. The property is not over-assessed relative to its neighbours, so you wouldn’t be penalized by an unusually high tax bill compared to similar-sized homes elsewhere.

4. Why is the living area rank so low while the assessed value rank is higher?
Because assessed value factors in location, lot, and age, not just square footage. This home’s small interior ranks poorly, but its desirable Wolseley address and older construction keep the value closer to average. Buyers pay for the neighbourhood, not the floor space.

5. What’s the resale potential for a home this small in this area?
Smaller homes in mature neighbourhoods often appeal to a niche buyer pool—people who prioritize location over size. Resale may take longer than a similarly priced larger home, but if the property is well-maintained and priced realistically, it should hold its value due to Wolseley’s desirability.