120 Lipton Street – Property Summary

Key Characteristics & Buyer Profile

This is a 2,023-square-foot home built in 1913, situated on a 2,924-square-foot lot in the Wolseley neighbourhood. The property sits on Lipton Street, a pocket within Wolseley where homes are notably larger than the street average—ranking in the top 3% for living area on the street itself. While the lot is above average for the street, it is smaller than typical Wolseley lots and well below the citywide average, reflecting the older, denser character of the area.

The appeal here is a combination of generous interior space relative to its surroundings and a location in an established, walkable neighbourhood. The assessed value is above average for the street (top 6%) but roughly in line with citywide medians, suggesting the premium is localized rather than broad. The home’s age (1913) places it among older stock citywide, but it is typical for Lipton Street and slightly older than the Wolseley average.

This property would suit a buyer who values interior square footage and character over land size or a modern build. It is well-positioned for someone who wants to be in a central, mature neighbourhood without paying for a large yard or a recently constructed home. Buyers should be comfortable with the maintenance realities of a pre-war house and see the smaller lot as a trade-off for location and interior space.

Frequently Asked Questions

1. How does the living area compare to other homes in the area?
The home is unusually large for Lipton Street, ranking in the top 3% for living area. In the broader Wolseley neighbourhood, it is still above average (top 21%). Citywide, it ranks in the top 10%. So while the house feels spacious, it is most exceptional relative to its immediate street.

2. Is the assessed value in line with the home’s size?
Not exactly. Despite being in the top 3% for living area on the street, the assessed value is in the top 6%—close, but not perfectly aligned. This suggests that other factors (such as condition or lot size) moderate the value relative to the square footage. Citywide, the value is around average (top 36%), which is notably lower than the living area ranking.

3. Why is the lot size considered small if homes on the street have similar lots?
The lot is 2,924 square feet, which is above average for Lipton Street (2,677 sqft average). However, Wolseley lots average 3,434 sqft, and citywide lots average 6,570 sqft. So while the lot is typical for the street, it is smaller than what many buyers expect from a home of this size, especially outside the core neighbourhoods.

4. What does the 1913 build year mean for maintenance and character?
The home predates most of Winnipeg’s housing stock (citywide median is 1966). For Wolseley, it is slightly older than average (1916). Older homes in this area often have solid woodwork, high ceilings, and mature landscaping, but systems (plumbing, electrical, insulation) may need updating. Buyers should budget for ongoing upkeep typical of century homes.

5. How does this property compare to others in Wolseley overall?
Compared to the Wolseley average, this home has more living space (2,023 sqft vs. 1,622 average) and a slightly higher assessed value, but a smaller than average lot. It is one of the larger homes in terms of interior space on its street, but not unusually large for the neighbourhood. The age is typical for the area, and the value is above the street median but not dramatically so.