485 Sprague Street – Property Summary

Key Characteristics & Buyer Profile

This is a 912-square-foot home built in 1924, located on a 3,937-square-foot lot in Winnipeg’s Wolseley neighbourhood. What stands out most is its age relative to its immediate surroundings. The house is older than most citywide (top 85% older) but newer than the typical Wolseley home (top 17% newer) and in line with the rest of its street. In practical terms, this means it sits in a pocket of Wolseley where homes are slightly newer than the neighbourhood norm, which can affect maintenance expectations and character.

The assessed value is $328,000—below the street average but close to the neighbourhood median. The living area is notably compact, even by Wolseley standards. On its own street, it ranks near the bottom for square footage. The lot, however, is generous compared to nearby properties (top 17% within Wolseley), offering more outdoor space than many neighbours.

The appeal lies in trade-offs. Buyers get a smaller house than typical but on a larger lot, in a neighbourhood where land is often tight. This might suit someone who values yard space over interior square footage, or who sees potential for future expansion. The below-average assessed value also suggests a lower entry price relative to other homes in the area.

Ideal buyer: Someone looking for a starter home or a project in Wolseley—someone comfortable with a smaller footprint who would prefer a good-sized yard and a house with pre-war bones that hasn’t been fully priced up for the neighbourhood’s desirability. It’s less suited for buyers needing maximum living space or a move-in-ready modern layout.

Frequently Asked Questions

1. How does the living area compare to other Wolseley homes?
This home is well below average for Wolseley. Of 2,349 comparable properties in the neighbourhood, it ranks in the bottom 6% for living area. The typical home in Wolseley is about 1,622 square feet, so this is about 44% smaller.

2. Is the assessed value a good deal for the street?
The assessed value is below the Sprague Street average ($328K vs. $367K), placing it in the bottom 18% of homes on that street. However, the value is essentially at the neighbourhood median, so it’s not unusual for Wolseley. The discount relative to other houses on the same block may reflect the smaller living area.

3. How old is the house compared to others in Winnipeg?
The 1924 build date makes it older than about 85% of homes citywide. But within Wolseley, it’s newer than 83% of nearby homes, many of which date from the 1910s. So it’s old by Winnipeg standards but relatively young for its own neighbourhood.

4. Why does the lot seem large for Wolseley but small citywide?
Wolseley is known for compact lots, so a 3,937-square-foot lot is above average for the area (top 17%). Citywide, however, many newer subdivisions and suburban properties sit on much larger parcels—averaging 6,570 square feet—so this lot looks small in a broader Winnipeg context.

5. Would this property be a good candidate for an addition?
Possibly. The lot is generous for Wolseley, which might allow for a rear or side addition depending on zoning and setback requirements. The existing house is just 912 square feet, so there’s incentive to expand. However, the home’s age and construction type may present challenges. A structural inspection and consultation with the city’s planning department would be necessary before assuming anything.