475 Dominion Street – Property Summary

Key Characteristics & Buyer Profile

This 1,872 sq. ft. home, built in 1922, sits on a 4,981 sq. ft. lot in Winnipeg’s Wolseley neighbourhood. Its standout feature is the lot size: on Dominion Street, it ranks in the top 1% for land, and in the top 7% within Wolseley. This means the property offers significantly more outdoor space than most nearby homes, which average around 3,790 sq. ft. on the street and 3,434 sq. ft. in the wider neighbourhood.

The living area is also above average—top 8% on the street and top 14% citywide—but the assessed value ($387,000) is only around average for both the neighbourhood and the city. This is not unusual for an older home with a large lot in an established area: the structure itself may not command a premium, but the land likely holds the long-term value.

The home was built in 1922, which is older than the citywide average (1966) and slightly older than the street average (1933). However, within Wolseley, it is actually above average for its age, suggesting the neighbourhood has a mix of eras and that older homes here are not unusual.

This property would suit: buyers who prioritize outdoor space and are comfortable with an older home. It may appeal to those looking for a project—either renovation or eventual redevelopment—given the generous lot and relatively moderate assessed value. Families wanting a large yard in a central neighbourhood, or investors eyeing land value in a desirable area, would find it worth a closer look. It is less suited for someone seeking a move-in-ready, low-maintenance property or a newer build.

Five Possible FAQs

1. How does the assessed value compare to similar homes on the street?
The assessed value of $387,000 is above the Dominion Street average of $286,200, ranking in the top 10%. But it is close to the Wolseley neighbourhood average ($371,300) and the citywide average for comparable homes ($390,100). So it is priced higher than most homes on its own street, but in line with the broader area.

2. Is the lot size unusually large for this part of Winnipeg?
On Dominion Street, yes—it is in the top 1%. Within Wolseley, it ranks in the top 7%. Citywide, however, the lot is around average: many newer subdivisions have larger standard lots. The value here is relative to the immediate neighbourhood, where larger lots are less common.

3. What condition is a 1922 home likely to be in?
The summary does not include condition details. A home from 1922 could range from well-maintained to needing significant updates. Typical considerations for a house this age include the foundation, electrical, plumbing, insulation, and windows. A buyer should budget for a thorough inspection and potential upgrades.

4. Why is the living area above average but the assessed value only average?
Assessed value reflects both the structure and the land. The home’s living area is larger than many comparables, but its age (1922) and likely condition mean the structure may not be valued as highly as newer homes with similar square footage. The land, while generous for the street, does not fully compensate because citywide land values are variable. This creates a gap between size and value.

5. How does this property compare to others in Wolseley overall?
In Wolseley, the home ranks in the top 30% for living area, top 7% for lot size, and above average for age (i.e., older than much of the neighbourhood). Its assessed value is around the middle (top 34%). So it is a larger-than-average, older home on a notably large lot, with a value that is neither a bargain nor a premium for the area.