42 Picardy Place – Property Summary

Key Characteristics & Ideal Buyer Profile

This 1,976 sqft home, built in 1904, sits in Winnipeg’s Wolseley neighbourhood on a 3,594 sqft lot. Its assessed value is $421,000.

The property’s main appeal is its combination of interior space and lot size relative to its price. Citywide, the living area ranks in the top 11% and the assessed value sits near the average for comparable homes, meaning you get significantly more square footage than typical for a property in this price bracket. The lot is also above average for both the street and neighbourhood (top 25% and 29%, respectively), though smaller than typical citywide—which is not unusual for a central, older neighbourhood.

The home is notably old, even by Wolseley standards. It ranks in the bottom 1% citywide for year built. This will likely mean higher maintenance, less modern insulation, and potentially more involved renovations. That said, older homes in this area often have character, solid construction, and established landscaping that newer builds lack.

This property would suit a buyer who values interior space and a larger lot within an established central neighbourhood, and who is comfortable with—or specifically wants—an older home. It’s less suited for someone seeking a modern, move-in-ready property with minimal upkeep. The trade-off is clear: more space and land for the money, but with an older structure that may require ongoing attention.

Five Possible FAQs

1. How does the assessed value compare to similar homes nearby?
The assessed value of $421,000 is above the street average ($330,700) and the neighbourhood average ($371,300), but close to the citywide average ($390,100). You are paying a premium for the extra living space and lot size within Wolseley, not for a newly built home.

2. Is the living area larger than typical homes in Winnipeg?
Yes, significantly. At 1,976 sqft, the living area ranks in the top 11% citywide and top 23% within Wolseley. It is one of the larger homes on its street, where the average is 2,108 sqft.

3. What should I expect from a home built in 1904?
Expect an older structure, which often means solid materials but also outdated systems, potential for knob-and-tube wiring, less efficient windows, and possible foundation or drainage issues. Renovations may be frequent. That said, the home has likely stood for over a century, so major structural problems are not guaranteed—but a thorough inspection is essential.

4. Is the lot size considered small or large?
It depends on the comparison. Within Wolseley and on this street, the lot (3,594 sqft) is above average—top 25% for the street and top 29% for the neighbourhood. However, citywide, it is below average, since new suburban lots are much larger. For a central neighbourhood, this is a good-sized lot.

5. Who typically buys homes in this part of Wolseley?
Buyers are often people who value walkability, mature trees, and older character homes. Many are willing to take on renovation projects or maintenance in exchange for more square footage than they could afford in a newer central condo or a smaller modern house. It’s also common for families who want a house with a yard but still close to downtown and the river.