114 Walnut Street — Property Summary

Key Characteristics & Buyer Profile

This is a 1,483 sqft home built in 1909, located on a 2,339 sqft lot in Wolseley. The assessed value is $234,000.

The property stands out most for its age. On Walnut Street specifically, it’s one of the older homes (ranked 18th out of 87), built earlier than the street average of 1911. However, this doesn’t hold true for the wider neighbourhood or city — Wolseley has many homes from the early 1900s, so the property sits closer to the neighbourhood average there. For buyers who appreciate pre-war character, this home offers a genuine vintage footprint, not a replica.

Where the property is notably weaker is in lot size and assessed value. The lot is small relative to both the street and the neighbourhood, and the assessment is well below the Wolseley average. This means the property is priced competitively for the area, but also that there’s limited land equity to build on. The living area is around average for Wolseley, though slightly small for its own street.

The appeal here is not about square footage or yard space. It’s about entry point into a desirable older neighbourhood at a lower price than most neighbours, combined with a house that has an older build date. This would suit a buyer who values character and location over space, or someone looking for a renovation project where the primary investment is in updating the interior rather than expanding the footprint. It may also appeal to buyers who don’t need a large lot or who prefer a more compact, low-maintenance yard.

Frequently Asked Questions

1. How does the property compare to others on Walnut Street?
On its own street, this home is smaller in living area (ranked 83rd percentile), lower in assessed value (82nd percentile), and has a smaller lot (82nd percentile) than most neighbours. Its main distinction is being older than average (21st percentile for year built). So it’s a relatively modest home on a street with larger, pricier properties — but the aged character is a differentiator.

2. Is this a good investment for a fixer-upper?
The low assessed value ($234k vs. the neighbourhood average of $371k) suggests significant gap potential if the house is updated well. However, the small lot limits what you can do in terms of additions. The main path to value increase is interior renovation and possibly a garage or secondary suite if zoning allows — not land subdivision.

3. How does the lot size affect livability?
At 2,339 sqft, the lot is smaller than 82% of homes on the street and 93% of homes in Wolseley. That means a compact yard — fine for gardening or a small deck, but not for large families, dogs needing space, or anyone who wants a garage and a backyard. It’s more of an urban lot, suited to street parking and minimal outdoor maintenance.

4. What is the character of Wolseley as a neighbourhood?
Wolseley is an established inner-city neighbourhood with a mix of early 20th-century homes, mature trees, and a walkable, community-oriented feel. It’s known for being slightly bohemian and family-friendly, with access to the river and shops along Portage Avenue. Homes here tend to be older, so this property fits the neighbourhood’s general character, even if it’s small for the area.

5. Should I be concerned that the property ranks low in assessed value citywide?
Not necessarily. Wolseley is an older, well-established area, not a high-value new development. The assessed value being in the 86th percentile citywide just reflects that this is a less expensive home within a moderately priced neighbourhood. For a buyer, this means lower property taxes and a lower purchase price relative to similar homes in higher-demand pockets of Winnipeg. The trade-off is less upside from location alone — value growth here depends more on the condition of the house itself.