Property Summary: 196 Chestnut Street

Key Characteristics & Buyer Profile

This 1,583 sqft home on Chestnut Street sits on a 3,036 sqft lot in Winnipeg’s Wolseley neighbourhood and was built in 1907. The property is assessed at $388,000 for tax purposes.

The house is modest for its street—73rd out of 99 homes in size—but holds its own across the broader Wolseley area (roughly average) and stands out against the citywide housing stock, where it ranks in the top 26% for living space. That gap is typical for older neighbourhoods like Wolseley, where homes predate the larger postwar and modern builds found farther from the core.

The lot is small by city standards (bottom 13%), but consistent with the tighter urban fabric of the area. The 1907 build date places it among the older homes in Wolseley and well ahead of the citywide median (1966). For buyers who value character and established neighbourhoods over newer construction, this is common ground—but it also means maintenance history matters.

Who it suits: Someone drawn to a walkable, inner-city neighbourhood with older architecture, who doesn’t need a big yard and is comfortable with a home that’s unique rather than uniform. Not ideal for buyers seeking a move-in-ready newer build or a large suburban lot.

Frequently Asked Questions

1. How does this property compare to others on Chestnut Street?
It’s on the smaller side for both living area (73rd of 99) and lot size (68th of 99). The assessed value is slightly above the street average ($388K vs. $358K), likely reflecting interior quality or recent renovations, since size alone doesn’t explain the difference.

2. Is the assessed value of $388,000 a reliable guide to market price?
Assessments are lagging indicators based on market conditions at a set point. In a changing market, the sale price could differ. The home’s value relative to its neighbours is informative, but not a direct predictor of what a buyer would pay.

3. What should I know about a house built in 1907?
Older homes often have solid framing and desirable detailing, but expect systems (electrical, plumbing, insulation) that may not meet modern standards unless updated. A thorough inspection should focus on the foundation, roof age, and whether any knob-and-tube wiring remains. The age also places the home among the older quarter of properties citywide.

4. How does the lot size affect usability?
At 3,036 sqft, the lot is typical for Wolseley but well below the city average. Yards are cosy—fine for gardening or small gatherings, but not for large play areas or expansions. Side setbacks and any zoning restrictions would determine what’s possible for additions.

5. What does “close to average” in Wolseley actually mean in practice?
This home fits the Wolseley profile closely on size and value. It’s slightly older than the neighbourhood average (1907 vs. 1916) and on a smaller lot (3,036 vs. 3,434 sqft average). Buyers familiar with the area will find it comparable to many of its neighbours—no major outliers in any direction.