5-272 Home Street – Property Summary

Key Characteristics & Buyer Profile

This 855 sqft home, built in 1914, sits on Home Street in Winnipeg’s Wolseley neighbourhood. Its living area is notably larger than most homes on the same street (top 8%), though it aligns more closely with neighbourhood and city averages. The assessed value of $184,000 is above the street and neighbourhood median, but well below the citywide average for comparable homes—suggesting solid value relative to location rather than speculative pricing. The property is older than most citywide (top 96% by age), but within the typical range for Wolseley.

The appeal here is pragmatic: you get more interior space than is common on this block, at a valuation that hasn’t yet caught up to some nearby streets. That could mean room to grow in equity without paying a premium upfront. The age and character of the home may attract buyers who value established neighbourhoods and are comfortable with older construction—plaster walls, baseboard heating, smaller room layouts—rather than expecting a modern open-concept finish.

This property would suit a first-time buyer looking for a foothold in a walkable, inner-city area with mature trees and a strong sense of community. It may also appeal to someone downsizing from a larger suburban home who wants a quieter street but still near amenities, or an investor focused on rental yield in a stable, in-demand pocket of Winnipeg.

Five Possible FAQs

1. How does the living area compare to other homes nearby?
It’s well above the street average (690 sqft) by about 165 sqft, putting it in the top 8% on Home Street. In the wider Wolseley neighbourhood, it’s slightly above the average of 830 sqft—ranked 57 out of 139—so you’re not oversized for the area, but you have more space than most of your immediate neighbours.

2. The assessed value is $184k—is that realistic or inflated?
It’s above the street and neighbourhood medians ($138.7k and $145.8k respectively), but still far below Winnipeg’s citywide average for comparable homes ($256.1k). That gap suggests the valuation reflects the property’s older age and smaller lot rather than any red flags. It’s fair for the location and size, not unusually high.

3. How old is the house, and what does that mean practically?
Built in 1914, it’s significantly older than the average Winnipeg home (1990). On Home Street, the average build year is 1939, so it’s earlier than most there too. Expect original or early-century features like thicker walls, deeper baseboards, and possibly unrenovated systems. It may need updated insulation, electrical, or plumbing, depending on past work. A thorough home inspection is recommended.

4. What’s the neighbourhood like?
Wolseley is a well-established inner-city area known for its tree-lined streets, older homes, and mix of families, artists, and professionals. It’s walkable to shops, restaurants, and the Assiniboine River trails. That said, being an older neighbourhood, parking can be tight on some streets, and some properties may have narrower lots or shared driveways.

5. Is this a good investment or more of a personal home?
It could work as either. The property’s relatively low assessed value against its larger-than-average living area creates potential for appreciation if the street or neighbourhood sees renewed interest. But the age means maintenance costs could be higher than a newer build. For a buyer who wants to live in it, the character and location are strong draws. For an investor, the key is whether rental income covers the carrying costs and any upcoming repairs.