233 Lipton Street – Property Summary

Key Characteristics & Buyer Profile

This is a 1911-built home in Winnipeg’s Wolseley area with 1,667 sq ft of living space on a 2,834 sq ft lot. Its assessed value of $506,000 signals that the property carries a premium relative to the neighbourhood and city averages, particularly in context of the street itself: it ranks in the top 2% of assessed value among 616 homes on Lipton Street. In living space, it’s above the city and street averages, but only near the middle in Wolseley—meaning it’s spacious for the street but not exceptional by neighbourhood standards.

The appeal is in the combination of location and value retention. Wolseley is a mature, walkable neighbourhood with older housing stock and established tree canopy, which tends to draw buyers who appreciate character homes rather than new builds. The lot size is modest by citywide standards—91st percentile in terms of being small—which might be a plus for buyers wanting lower maintenance rather than a large yard. For those who value architectural heritage, the 1911 build year is typical for the street and neighbourhood, but it’s older than most homes across Winnipeg. That suggests a buyer should be comfortable with the realities of an older home: potential for updates, maintenance history, and possibly higher utility costs.

This property would suit buyers who prioritize location and total living space over land area. It’s a strong fit for someone looking for a well-positioned home in a desirable inner-city neighbourhood, willing to invest in upkeep or renovations, and not seeking a large lot for gardening or expansion. The assessed value suggests the market already assigns a premium here, so a buyer should be confident in the area’s long-term stability.

Five Possible FAQs

1. How does the assessed value compare to similar homes nearby?
The property is assessed at $506,000, which is well above the average for Lipton Street ($250,000) and above both the Wolseley average ($371,000) and the citywide average ($390,000). It ranks in the top 10% for the neighbourhood and top 2% for the street, indicating it’s a higher-value property within its immediate context.

2. Is this a good choice for someone who wants a large yard?
Probably not. The lot is 2,834 sq ft, which is above average for the street but below average for Wolseley and far below the city average. Across Winnipeg, it ranks in the bottom 9% for lot size. This is a home for someone who values indoor space and location more than outdoor room to expand.

3. How old is the house, and does it need major updates?
Built in 1911, it’s older than most homes across the city but on par with the rest of Lipton Street and Wolseley. Age alone doesn’t indicate condition—some older homes have been well-maintained or renovated. Buyers should arrange a thorough inspection and pay special attention to the foundation, electrical, plumbing, and insulation.

4. What’s the neighbourhood like in terms of walkability and amenities?
Wolseley is one of Winnipeg’s older, established inner-city neighbourhoods, known for its mature trees, historic homes, and proximity to the Assiniboine River. It has good access to local shops, cafés, and parks, and tends to attract a mix of families, professionals, and long-term residents who value a pedestrian-friendly environment.

5. How does the living space compare to other homes in the area?
At 1,667 sq ft, it’s larger than the average home on Lipton Street (1,163 sq ft) and slightly above the city average (1,342 sq ft), but very close to the Wolseley average (1,622 sq ft). For the street, this is a standout—ranking in the top 13%—but within the neighbourhood it’s a typical size.