246 Lipton Street – Property Summary

1. Key Characteristics & Buyer Profile

This is a character home built in 1946, located in the Wolseley neighbourhood of Winnipeg. Its standout feature is the assessed value relative to the street: at $365k, it ranks in the top 10% on Lipton Street, while the street average is $250k. This suggests a well-maintained or updated property on a block where many homes are priced lower. The living area (1,195 sqft) sits close to the street and city averages, so it’s not unusually large or small for its context. The lot (2,366 sqft) is notably compact—well below the Wolseley average of 3,434 sqft and far below the citywide average. The home’s age places it in an elite tier for the neighbourhood (top 3%), meaning it’s among the older, more established houses in an area known for its historic character. The appeal lies in owning a home that feels solid and priced slightly above its immediate neighbours, likely reflecting interior upgrades or good bones, without being overbuilt for the block. It suits a buyer who values a compact, low-maintenance yard, wants to live in a character-rich central neighbourhood, and is comfortable with a home that may need ongoing maintenance typical of the 1940s—but is willing to pay a premium for a property that already stands out on its street.

2. Five Possible FAQs

Why is the assessed value high for the street, but only average for the neighbourhood?
The home’s $365k assessed value is significantly above the Lipton Street average of $250k, which often signals recent renovations, a larger living area, or better condition than nearby properties. However, the Wolseley neighbourhood average is $371k, so the home is right in line with its broader surroundings. This means you’re buying a home that feels like a stronger value relative to its immediate block, but not a standout within the whole neighbourhood.

What does the compact lot size mean in practice?
At 2,366 sqft, the lot is about 30% smaller than the Wolseley average. That translates to less yard maintenance, more privacy from neighbours (if fenced), and possibly a smaller footprint for the house itself. It may also affect future expansion options or resale appeal for buyers who want a larger garden or garage. For someone downsizing or wanting outdoor space without the work, this can be a practical advantage.

Is this a good choice for a first-time buyer?
It could be, provided the buyer is prepared for the realities of a 1940s home—older plumbing, electrical, and insulation are common. The above-average assessed value on the street may indicate some updates, but it’s worth verifying what’s been done. The smaller lot and central location are appealing for first-timers who want walkability and less upkeep, but the price point in a neighbourhood like Wolseley could still be competitive.

How does the home compare to others in Wolseley by age?
Very favourably. The 1946 build places it in the top 3% oldest homes in the neighbourhood, which is a strong selling point for buyers seeking pre-war character, thicker walls, and mature trees. Many homes in Wolseley are from the same era, but this one is earlier than most. That can also mean construction methods and materials that are harder to maintain or retrofit.

What’s the parking or street situation like?
The property detail doesn’t mention a garage or driveway. Given the small lot and the era of construction, street parking is likely the norm. It’s worth checking whether there’s a rear lane or off-street option, as this can affect daily convenience—especially in a central neighbourhood where curb space may be competitive. Buyers with two vehicles should look into this before making an offer.