48 Ruby Street — Property Summary

Key Characteristics & Buyer Profile

This is a 2,208-square-foot home on Ruby Street in Winnipeg’s Wolseley neighbourhood, built in 1914. Its main draw is interior space: it ranks in the top 6% city-wide for living area, significantly outpacing the typical home in Winnipeg (1,342 sq ft average). The assessed value of $450,000 is above street and neighbourhood averages, but less exceptional city-wide (top 28%), suggesting you’re getting relatively more square footage per dollar than in newer or more central areas.

The land is a different story. At 3,049 square feet, the lot is average for Wolseley (top 50%), but well below city-wide norms—which makes sense, as older inner-neighbourhood lots tend to be compact. The year built (1914) is typical for Ruby Street and Wolseley, but older than 89% of homes across Winnipeg. That means character, mature trees, and likely solid construction, but also the realities of older plumbing, wiring, and insulation.

Who it suits: Buyers who prioritize interior space over a big yard, and who appreciate a walkable, established neighbourhood with older homes. It’s less ideal for someone seeking a large lot or a move-in-ready modern build. The home would appeal to those comfortable with the quirks and upkeep of a century-old house, or those looking to renovate selectively to add value, given the assessed value hasn’t yet caught up to the living area ranking.

Frequently Asked Questions

1. How does the assessed value compare to similar homes on the street?
The home is assessed at $450,000, about $77,500 above the Ruby Street average of $372,500. That puts it in the top 16% on the street, indicating it’s one of the more valuable properties locally, likely due to its larger floor plan.

2. Is the lot size a concern for this price point?
Depends on expectations. At 3,049 square feet, it’s similar to other lots on Ruby Street (top 17%), but smaller than half the homes in Wolseley and well below typical Winnipeg lots (6,570 sq ft average). If you want a deep backyard for gardens or a workshop, you might find it tight. But for a century-old inner-city home, the lot size is standard.

3. What does “year built 1914” mean for maintenance or insurance?
It means the home is over 110 years old. In Winnipeg, homes from this era often have plaster walls, knob-and-tube wiring (or updates), and older foundations. Some insurers charge higher premiums or require an electrical upgrade. It’s worth confirming what’s been updated, especially the roof, furnace, and windows.

4. Why is the property’s city-wide living area rank (top 6%) better than its assessed value rank (top 28%)?
That gap suggests the market isn’t fully pricing in the extra square footage. Possibly because the home needs updates, is in a less expensive part of town, or the lot is small. For a buyer, it may mean there’s value to be unlocked through renovations—or simply that the home offers more space than the price implies.

5. How does this home compare to others in Wolseley specifically?
It’s larger than about 89% of homes in the neighbourhood (top 11% for living area) and valued above about 83% of them (top 17% for assessed value). The lot is right around the neighbourhood average. So it’s a bigger-than-typical Wolseley house on a standard Wolseley lot—a combination that stands out but isn’t out of character for the area.