115 Lipton Street – Property Summary

Key Characteristics & Buyer Profile

This is a 1914-built home in Wolseley with 1,302 sqft of living space on a 2,530 sqft lot, currently assessed at $368,000. What stands out most is the property’s position within its immediate street context. On Lipton Street, it ranks in the top 30% for living area (above the street average of 1,163 sqft), the top 9% for assessed value (well above the street average of $250,200), and the top 27% for year built—meaning it’s one of the older, larger, and more valuable homes on this specific block.

The appeal here is twofold. First, you get a home that’s clearly above the standard for its street without being oversized or overpriced relative to the wider neighbourhood. Second, the lot is compact—below average even for Wolseley—which keeps the property manageable and likely lowers upkeep compared to larger, deeper lots in the area. For buyers who value a mature, established house in a sought-after central neighbourhood but don’t want a renovation project or a sprawling yard, this fits a specific niche.

This property would suit someone who appreciates character housing from the early 1900s, wants to be in Wolseley’s walkable, tree-lined environment, and is comfortable with a home that’s older—meaning potential maintenance considerations—but already holds its value relative to neighbours. It’s less suited for buyers seeking a large yard, a newer build, or a fixer-upper with upside in lot size.

Frequently Asked Questions

1. How does the assessed value compare to similar homes nearby?
The assessed value of $368,000 is significantly above the Lipton Street average of $250,200 – ranking in the top 9% on the street. Within the broader Wolseley neighbourhood, it’s around average (top 40%), and citywide it sits near the median (top 48%). So it’s a standout on its own street but competitively priced for the area.

2. Is the lot size a drawback?
At 2,530 sqft, the lot is smaller than typical for Wolseley, where the average is 3,434 sqft. Citywide, it’s well below average. This could be a drawback if you want space for gardens, additions, or parking expansion. But it also means less yard work, lower property taxes relative to neighbourhood peers, and a more modest footprint that fits the street’s character.

3. What’s the significance of the 1914 build year?
The house was built earlier than most on Lipton Street (average 1919) and in Wolseley (average 1916). Citywide, it’s older than 89% of comparable homes—so this is genuinely an early Winnipeg home. That can mean solid construction materials and desirable original details, but also potential issues with wiring, plumbing, insulation, or foundation that a pre-purchase inspection should address.

4. How does the living space compare to other Wolseley homes?
While 1,302 sqft is above average for Lipton Street, it’s below the Wolseley neighbourhood average of 1,622 sqft. That means the house is a good size for its immediate block but sits on the smaller side within the wider neighbourhood. It’s a comfortable floor plan, but not spacious by Wolseley standards.

5. What should I look out for given the home’s age and ranking?
Beyond standard older-home checks (foundation, roof, windows, knob-and-tube wiring, lead pipes, asbestos), consider that the high relative value on Lipton Street may partly reflect recent upgrades by the current owner. Verify whether major systems (furnace, electrical panel, hot water tank) have been updated. Also, the small lot may limit your ability to expand the footprint without a variance, so clarify zoning rules if you plan future additions.