242 Lipton Street – Property Summary

Key Characteristics and Buyer Profile

This 1,872-square-foot home on Lipton Street in Wolseley stands out most sharply at the street level. It ranks in the top 6% for living area on its block—a significant gap from the street average of 1,163 square feet—and in the top 5% for assessed value. The house was built in 1942, which places it among the newer homes within Wolseley (top 5% in the neighbourhood), though it's older than the citywide average. The land parcel is 2,878 square feet, slightly above the street norm but below both the neighbourhood and citywide medians.

The appeal here is subtle. This is not a house that demands attention from the street with a sprawling lot or an obviously grand footprint by city standards. Instead, its value is concentrated: generous interior space relative to immediate neighbours, a solid assessment that reflects that space, and a construction date that avoids the very early 1900s stock common in the area. For a buyer who wants a roomier interior without leaving Wolseley's established character, this home offers a combination that's rare on this specific street.

It would suit someone who values square footage over lot size—perhaps a family or a couple who need space inside but don't require a large yard. It may also appeal to buyers who see the assessed value ranking as a sign of stable investment potential, given the property already sits well above the street median. Someone looking for a newer build within an older neighbourhood, but without the premium of a full modern renovation, would find this house worth a closer look.

Frequently Asked Questions

1. How does this property compare to others on Lipton Street specifically?
It performs very strongly here. It ranks in the top 6% for living area and top 5% for assessed value. That means it's noticeably larger and more valuable than most homes on the same block, where the average living area is just over 1,100 square feet and the average assessed value is around $250,000.

2. Is the lot size a limitation?
It depends on your expectations. At 2,878 square feet, the lot is slightly above the street average but below the Wolseley neighbourhood average (3,434 sqft) and well below the citywide average (6,570 sqft). If you want a deep backyard or room for major additions, this lot may feel modest. If you're content with a manageable yard in a central neighbourhood, it's adequate.

3. How does the 1942 build year matter in this context?
In Wolseley, where many homes date from 1916 or earlier, a 1942 home is relatively recent—ranking in the top 5% of the neighbourhood. Citywide, however, it's older than average (median 1966). This means you get a house that's newer than its immediate surroundings, which can mean fewer foundation or knob-and-tube wiring surprises, but it's still an older home by broader standards.

4. Why is the assessed value high for the street but only average citywide?
The street average on Lipton is relatively low ($250,200), so a $432,000 assessment places the home among the top on the block. Across Winnipeg, $432,000 is close to the median for comparable homes ($390,100), so the value stands out more in its immediate context than it does across the whole city. This can be an advantage if you're buying for neighbourhood-specific reasons.

5. What does the "rank by year, newer = better rank" footnote mean?
The ranking system treats a more recent construction date as preferable. For this property, newer is better within Wolseley (top 5%) and on Lipton Street (top 11%), but not citywide (bottom 20%). The bar chart fill reflects where the house sits relative to peers—longer fill means it outperforms more homes in that category. Higher assessed value and larger living area also count as "better" in their respective rankings.