112 Lipton Street – Property Summary

Key Characteristics & Buyer Profile

This is a 2,043-square-foot home on Lipton Street in Winnipeg’s Wolseley neighbourhood, built in 1913 on a 3,113-square-foot lot. Its assessed value is $520,000.

The property’s standout feature is its size and value relative to its immediate surroundings. On Lipton Street itself, it ranks in the top 3% for living area and top 1% for assessed value—both well above the street averages of 1,163 square feet and $250,200. This suggests a home that is significantly larger and more substantial than its direct neighbours, almost certainly with upgrades or finishes that set it apart.

Wolseley is a mature, character-heavy area known for tree-lined streets and older homes. While this house is older (built 1913, around average for the street), it offers more square footage than much of the neighbourhood and sits on a lot that is modest by city standards but typical for the area. The land is not oversized, which may appeal to buyers who want a manageable yard and less upkeep.

The home would suit a buyer who values a large, centrally located property in an established neighbourhood with strong character, and who is prepared for the realities of an older home—possibly including maintenance and system updates. It may also appeal to someone who wants a standout property on a specific street without paying for a lot of extra land they won't use.

Five Frequently Asked Questions

1. How does this home compare to others in Wolseley?
Above average in size (top 20% of the neighbourhood) and assessed value (top 9%), but it sits on a lot that is about average for Wolseley. It is not exceptionally large for the area, and the age of the home (1913) is typical.

2. Is the assessed value of $520,000 reasonable for this property?
It is high compared to the street average ($250,200) and neighbourhood average ($371,300), but the home is also much larger than those averages. The assessed value likely reflects significant interior space and possibly renovations or quality finishes. A buyer should verify what the assessment is based on.

3. What does the lot size tell me about the property?
At 3,113 square feet, the lot is small by citywide standards (bottom 14% in Winnipeg), but it is slightly above average for Lipton Street. This suggests a tighter urban lot with limited yard space, typical of older infill neighbourhoods. Not a property for someone wanting a large garden or expansion potential.

4. The house was built in 1913—what should I expect?
It is an older home, but right in line with others on the street. Many Wolseley homes are from this era. Expect original character details but also possible issues with wiring, plumbing, insulation, and foundation. A thorough inspection is strongly recommended.

5. Who is this home not for?
It is probably not ideal for buyers wanting a large, private yard or a turnkey newer build. It is also less suited for someone looking for a bargain in a less central location—the assessed value is high for the street, so the price reflects the home’s size and position, not a hidden deal.