Property Summary: 483 Craig Street, Wolseley

This write-up is based on detailed street, neighbourhood, and citywide comparisons. The property is a detached home in Winnipeg’s Wolseley area, built in 1911.

Key Characteristics & Buyer Profile

The property offers a compact living footprint of 1,066 square feet on a 2,196-square-foot lot. Its strongest relative advantage is lot size compared to other homes on Craig Street—ranking in the top 25%—though the lot is significantly smaller than both the neighbourhood average (3,434 sqft) and citywide average (6,570 sqft). This suggests a more modest urban lot in a denser part of Wolseley.

Living space is below average for the street and neighbourhood but sits around the citywide norm. The assessed value of $338,000 is slightly above the street average but below both neighbourhood and city averages, indicating the property is priced to reflect its smaller size rather than its location alone. The 1911 build date is typical for the area but older than the citywide average.

Where the appeal lies: The property offers a foothold in a desirable, established central neighbourhood at a price point that undercuts many nearby homes. Its stronger relative ranking on its own street versus within Wolseley as a whole suggests it may be one of the more accessible entry points into this specific block.

Suitable buyers:

• First-time buyers looking for a smaller home in a walkable, character-rich neighbourhood without paying a premium for larger lots or finished square footage.
• Buyers interested in a renovation project where the land-to-building ratio on the street is relatively favourable.
• Those who prioritize location over interior space and are comfortable with a home that reflects its 1911 origins in terms of layout and upkeep.

Frequently Asked Questions

1. How does this home compare to others on Craig Street specifically?
On its own street, the home ranks near the top for lot size (15th out of 61) and is slightly above average in assessed value. Living area and year built are close to the street median. In short, it’s a typical or slightly above-average home for this block, with the lot being its standout feature.

2. Why is the lot ranked so low within Wolseley but high on the street?
Wolseley is known for its deep, generous lots—many are 40 to 50 feet wide and over 100 feet deep. At 2,196 square feet, this lot is smaller than most in the broader neighbourhood, but it’s actually larger than many of its immediate neighbours on Craig Street. This means the home is in a pocket of Wolseley with more compact lots.

3. Is the assessed value of $338,000 a fair reflection of the market?
The assessment is relative. It’s higher than the Craig Street average but lower than the Wolseley and citywide averages for comparable homes. On its own street, it’s in the top third, so it represents one of the higher-valued properties locally—likely due to lot size or condition relative to neighbours.

4. What does a 1911 build date mean in practical terms for a buyer?
You’re looking at a home that’s over 110 years old. Typically, that means plaster and lathe walls, possible knob-and-tube wiring (or old replacements), less insulation, and a foundation that may need attention. It also often means solid wood frames, higher ceilings, and original character details. A thorough inspection is essential, particularly for plumbing, electrical, and the roof.

5. How does the living area rank against other homes across the city?
The 1,066-square-foot living area places this home in the 65th percentile citywide—meaning it’s larger than 65% of comparable homes in Winnipeg, but still below the citywide average of 1,342 square feet. It’s not a tiny home by city standards, just on the smaller side for its own neighbourhood.