170 Lipton Street – Property Summary

Key Characteristics & Buyer Profile

This is a spacious, older home on a standout lot in Wolseley. The property’s core appeal is its size and land. At 2,262 square feet of living area, it ranks in the top 1% on Lipton Street, top 10% in the neighbourhood, and top 6% citywide. That’s genuinely large for the area—most comparable homes nearby are under 1,200 square feet. The lot, at 3,771 square feet, is also well above average for the street (top 5%) and strong for the neighbourhood, though it’s modest by Winnipeg standards overall. The assessed value of $509,000 reflects the premium for that space and location: top 1% on the street and top 9% in Wolseley.

The trade-off is age. Built in 1909, it’s an older property, ranking in the bottom 12% on the street and bottom 79% citywide. Buyers should expect the maintenance and potentially higher utility costs that come with a pre-war home—think drafty windows, older wiring, or dated plumbing, unless updates have been made. The property likely appeals to buyers who want something distinct and spacious, not a cookie-cutter renovation. It would suit someone who values square footage for a family, home office, or creative use over turnkey finishes, and who’s comfortable with the character and quirks of a century-old house in a historically rich neighbourhood. It’s less suited for someone seeking a low-maintenance, modern home or a large suburban lot.

FAQs

1. The assessed value seems high for the neighbourhood. What’s driving that?
The value is anchored by the home’s size and location, not its age. On Lipton Street, the average assessed value is about $250,000, but those homes are also much smaller (average 1,163 sqft). This property is nearly double that size, so the assessed value of $509,000 aligns with its square footage relative to the street. The Wolseley neighbourhood average is $371,000—again, for smaller homes. It’s a price-per-square-foot story, not a luxury premium.

2. How does the lot size compare to typical Winnipeg properties?
The lot is 3,771 square feet. That’s generous for Lipton Street (where the average lot is 2,677 sqft) and above average for Wolseley (average 3,434 sqft). But citywide, Winnipeg’s average lot is 6,570 square feet, so this is smaller than many post-war or suburban properties. The lot is a local asset, not a citywide one.

3. Is the home likely to have original or updated systems?
The year built is 1909, but rank data alone doesn’t tell you what’s been renovated. Buyers should verify the condition of major systems—roof, furnace, electrical, plumbing, windows—during a home inspection. A home this old often has a mix of original charm and recent upgrades, but you can’t assume either.

4. How does this property rank for investment value?
The assessed value being top 1% on the street and top 18% citywide suggests strong local demand. Wolseley is a desirable, walkable neighbourhood with stable values. The property’s larger size and lot give it upside potential for renovation or expansion, provided zoning allows. That said, being an older home means higher carrying costs and possibly lower resale liquidity in a market that favours newer builds.

5. What’s the neighbourhood like in terms of character or lifestyle?
Wolseley is known for its tree-lined streets, older homes, and a mix of families, artists, and professionals. It has a reputation for being community-minded and progressive, with proximity to the Assiniboine River, the Forks, and Osborne Village. The street-level ranking (top 1% for size and value) suggests Lipton Street is one of the more desirable blocks within that already popular area.