Property Overview

This 1909 one-storey home in Wolseley presents a classic character property on a generous 2,515 sqft lot. Its key appeal lies in its established location and the clear opportunity it represents. The 803 sqft living area is modest but efficient, and the home ranks highly for its lot size within Winnipeg (top 5%), offering valuable outdoor space in a sought-after neighbourhood. The basement exists but is noted as not renovated, indicating a space with potential rather than a finished asset.

This property would suit a specific buyer: someone looking for a foothold in a desirable, mature community like Wolseley, who is prepared for a project. It’s ideal for a first-time buyer or an investor with the vision and budget to update a historic home over time. Its lower assessed value compared to many in the area suggests an entry point, but the unrenovated basement and age mean future improvements are part of the equation. A less obvious perspective is that the significant lot size could be a long-term asset, potentially allowing for future expansion or garden development that many newer infill properties lack.

Frequently Asked Questions

1. What does "basement, not renovated" typically mean for a house of this age?
It generally indicates a traditional, unfinished cellar space. You can expect foundational walls (likely stone or concrete), basic utility access, and raw space. It provides crucial storage and housing for mechanical systems but would require significant investment to be finished as living space.

2. The assessed value seems low compared to nearby homes. Is that a concern?
Not necessarily. Municipal assessments for tax purposes often lag behind market values, especially for older homes that may have been updated. The lower assessment can be seen as a positive, indicating potentially lower property taxes. The market price will be determined by current conditions, the home's condition, and its lot value.

3. Who is the ideal buyer for this property?
This home is best suited for a buyer who values location and lot size over move-in-ready perfection. It’s a candidate for a gradual, sweat-equity renovation. It would also appeal to an investor looking for a character rental in a stable neighbourhood, with the understanding that maintenance on a 117-year-old home requires attention.

4. How does the living area (803 sqft) compare to the neighbourhood?
The living area is smaller than many comparable Wolseley homes, as shown in the nearby listings where homes often exceed 1,000 sqft. This confirms the home's compact, efficient footprint. The trade-off is the larger-than-average lot, giving you more outdoor space relative to your indoor space.

5. What are the less obvious considerations with a 1909 build?
Beyond expected updates, consider the house's systems (plumbing, electrical, insulation) which likely need modernization to current standards and efficiency. Also, investigate the health of the mature trees on the large lot and the condition of any original features. The charm of an old home is a major draw, but its preservation and upgrading require a specific mindset and budget.