220 Chestnut Street, Wolseley

Key Characteristics & Buyer Profile

This is a 1907 home in Wolseley with 1,754 sq. ft. of living space on a 3,482 sq. ft. lot. Its strength is immediately apparent in the lot size: relative to other properties on Chestnut Street, this lot ranks in the top 16%. The assessed value of $422k also sits above average for both the street (top 25%) and the wider Wolseley neighbourhood (top 23%). The living area is roughly average for the street but above the citywide norm. Where this property stands apart—and where some buyers might hesitate—is the age. At 117 years old, it ranks in the bottom 11% within Wolseley and bottom 4% citywide. That means it is one of the older homes in an area that already skews historic. The lot itself is generous for the street but well below citywide averages, reflecting the denser, more established character of central Winnipeg.

The appeal lies in a trade-off. You get a larger-than-average lot on a good street in Wolseley, with a home whose assessed value suggests it has been maintained or improved relative to its neighbours. The living space is solid, not exceptional. The age will require a buyer who appreciates character, understands older construction, and is prepared for the maintenance that comes with it.

What type of buyer would this suit? Someone who prioritises location and outdoor space over a move-in-ready, low-maintenance interior. A buyer who wants to be in a central, walkable neighbourhood like Wolseley, who sees value in a larger city lot, and who is willing to invest time and money into an older home rather than paying a premium for something newer. It is less suited to someone seeking a modern, turnkey property or a large suburban lot.

Frequently Asked Questions

1. How does the age of this home compare to others in the area?
This home was built in 1907. Within Wolseley, that puts it in the older end of the spectrum—about 89% of comparable homes in the neighbourhood were built later (average age around 1916). It is significantly older than the citywide average of 1966. Buyers should expect the realities of a 117-year-old house: solid construction but likely older systems, foundations, and insulation.

2. Is the assessed value of $422k reasonable for what this property offers?
The assessed value is above the average for both Chestnut Street ($358.5k) and Wolseley ($371.3k), ranking in the top quarter for each. This suggests the home has been valued for its lot size, condition, or upgrades relative to its immediate neighbours. It sits near the citywide average, so it is not overvalued for Winnipeg as a whole, but it commands a premium within its own street and neighbourhood.

3. What does the lot size of 3,482 sq. ft. mean in practical terms?
This lot is large for Chestnut Street (top 16%) and slightly above average for Wolseley. However, it is well below the Winnipeg citywide average of 6,570 sq. ft., which is skewed by suburban and rural properties. In a central neighbourhood, this is a comfortable city lot—enough for a yard, garden, or patio—but not oversized. It reflects the denser, older character of Wolseley.

4. How does the living space compare to other homes?
At 1,754 sq. ft., the living area is slightly below the average for Chestnut Street (1,810 sq. ft.) and above the Wolseley average (1,622 sq. ft.). Citywide, it is well above the average of 1,342 sq. ft. So it offers more interior space than many Winnipeg homes, but is roughly in line with what you would expect on this particular street.

5. What should I look out for with a home built in 1907?
Given the age, prioritise a thorough home inspection. Key areas to examine: the foundation (often stone or brick), electrical wiring (could be knob-and-tube or outdated), plumbing (cast iron or lead risks), and insulation. Older homes in Wolseley often have good bones but may need upgrades to heating, windows, or roofing. The advantage is that the lot and location are harder to replicate than modern finishes.