265 Aubrey Street – Property Summary

Key Characteristics & Buyer Profile

This is a 1,635 sqft home built in 1912 on a 2,276 sqft lot in Wolseley, Winnipeg. Its standout feature is living space: at 1,635 sqft, it ranks in the top 14% on Aubrey Street and the top 24% citywide, making it genuinely spacious for its age and area. The assessed value sits at $292,000, which is below both the neighbourhood average ($371,300) and the city average ($390,100). That lower valuation reflects the small lot—2,276 sqft ranks in the bottom 12% on the street and bottom 5% in the neighbourhood—and the fact that the home is older than most citywide (1912 vs. 1966 average).

The appeal here is square footage per dollar. You get above-average interior space at a below-average price point, but you trade that for minimal outdoor room and an older structure that likely needs ongoing maintenance. This property suits buyers who prioritize interior room—growing families, home office users, or those wanting separation of spaces—and who are comfortable with a compact lot in a mature, walkable neighbourhood. It’s less suited to anyone wanting a large yard, modern finishes, or a turnkey property. The value proposition is strongest for someone who sees the lower assessment as room for equity growth through strategic updates, rather than a red flag.

Five Possible FAQs

1. Why is the assessed value so much lower than the neighbourhood average?
The $292,000 assessment is driven partly by the small lot and partly by the home’s age relative to newer citywide stock. Within Wolseley, many homes have larger land parcels and more recent renovations, which push the neighbourhood average higher. This property’s lower value isn’t necessarily a sign of poor condition—it reflects market comparables that skew larger and newer.

2. How functional is a 1912 home with a 2,276 sqft lot?
It depends on your needs. The interior is genuinely large for a home of this era, so you’re not cramped. But the lot gives you maybe a small garden patch, a narrow side path, and room for a single vehicle—no sprawling backyard. If outdoor space is secondary, it works; if you need room for kids to play or you want a garage, you’ll feel the pinch.

3. What are the risks of buying a home built in 1912?
The main ones are older systems (knob-and-tube wiring, galvanized plumbing, possible asbestos insulation or lead paint if not remediated), foundation issues common to the era, and general wear on a 113-year-old structure. Some of these may already be updated, but you’ll want a thorough inspection focused on electrical, plumbing, and the foundation specifically. The low assessment might buffer you against overpaying, but budget for repairs.

4. How does this property compare to others currently for sale in Wolseley?
Most homes in the neighbourhood have larger lots (averaging 3,434 sqft) and higher assessed values. You’ll likely see listings with more land or recently renovated interiors at higher price points. This one stands out for offering more interior square footage than typical Wolseley homes of similar age, but with a smaller yard. It’s a trade-off—not a compromise for everyone.

5. Is there potential for this property to increase in value?
Yes, but with caveats. The low land area limits upside from adding a secondary suite or expanding the footprint. Value growth would likely come from interior improvements—kitchen, bathroom, or mechanical updates—that boost the assessed value closer to the neighbourhood median. The current gap between its assessment and the area average suggests room for appreciation, but it won’t happen passively. Location in Wolseley, a desirable central Winnipeg neighbourhood, provides baseline stability.