197 Walnut Street – Property Summary

Key Characteristics & Buyer Profile

This is a 1907 home with 2,177 square feet of living space, sitting on a 5,087-square-foot lot on Walnut Street in Winnipeg's Wolseley neighbourhood. The property ranks at or near the top of its street for both lot size and assessed value. On Walnut Street, it has the largest lot (ranked #1 out of 87) and the third-highest assessed value ($532,000, ranked #3 out of 87). Its living area is also well above the street average—about 450 square feet larger than typical homes on the block. Within Wolseley, the lot is in the top 6% of the neighbourhood, and the living area is in the top 13%. The assessed value is in the top 8% locally and the top 15% citywide.

The appeal here is land and comparative value. The home offers a significantly larger lot than others on the same street—nearly double the Walnut Street average—and a large interior by both street and city standards, while the assessed value suggests it is not priced at the very top of the market relative to its size and land. The year built (1907) is older than most neighbours; on Walnut Street, the average home was built around 1911, and citywide, the average comparable home dates to 1966. This makes it a more character-oriented property, with the age and condition that often accompany such homes.

This property would suit a buyer who prioritizes space—both indoors and outdoors—and is comfortable with an older home that likely has original detailing but may also require updating. It is a good fit for someone who wants a large lot in a desirable central neighbourhood (Wolseley) without paying a premium for a newer or fully renovated house. It is less suited to buyers looking for a move-in ready home with modern finishes or those who prefer a smaller, low-maintenance yard.

Frequently Asked Questions

1. How does the assessed value compare to similar homes on the street?
The assessed value of $532,000 is the third highest on Walnut Street (top 3%) and is about $195,000 above the street average of $337,500. Within Wolseley, it ranks in the top 8%, with the neighbourhood average around $371,300.

2. Is the lot size unusual for the area?
Yes. At 5,087 square feet, it is the largest lot on Walnut Street and nearly double the street average of 2,887 square feet. It is also well above the Wolseley neighbourhood average of 3,434 square feet. Citywide, however, it falls around the middle, as many suburban lots are larger.

3. What does the age of the home (1907) mean in practical terms?
The home is older than most on the street (average build year 1911) and significantly older than the citywide average for comparable homes (1966). This typically means the property may have original architectural features like high ceilings, woodwork, or character finishes, but it also suggests systems (plumbing, electrical, roof) may be older. Buyers should budget for potential updates and inspections focused on these areas.

4. How does this home rank against other properties in Winnipeg overall?
Citywide, the home ranks in the top 7% for living area and the top 15% for assessed value. Its lot size is near the median (top 53%). The build year ranks in the bottom 4% citywide, meaning it is one of the older homes in the city among comparable properties.

5. What type of buyer typically looks at a property like this?
Buyers interested in this home are often drawn to the combination of a large lot and a walkable, established neighbourhood like Wolseley. They tend to value space and location over a modern or low-maintenance home. It also appeals to those who see potential in a property that may allow for additions, a garden, or other outdoor use, given the generous lot size.