505 Basswood Place – Property Summary

Key Characteristics & Buyer Profile

This is a character home in Wolseley, Winnipeg, built in 1911. Its main appeal lies in its age and street-level distinction: on Basswood Place, it’s older than 79% of comparable homes (ranked 21st out of 53), which suggests it likely retains original detailing or a classic layout that newer infills lack. Living space is 1,138 sqft—below the street and neighborhood averages, but the assessed value of $335,000 sits around the middle of the street (ranked 47%) and is noticeably below the neighborhood average of $371,300. The lot is 2,750 sqft, smaller than typical for Wolseley (which averages 3,434 sqft) and considerably smaller citywide.

The property suits buyers who prioritize location and architectural character over square footage or land area. Wolseley is a walkable, established area with mature trees and older homes, so someone looking for a compact, lower-priced entry point into that neighborhood—rather than a renovated or expanded house—would find this relevant. It may also appeal to buyers comfortable with a project, given the below-average living space relative to the street and the potential to update an early 20th-century home. Conversely, if a large yard or open floor plan is critical, this property likely won’t compete.

Frequently Asked Questions

1. How does the assessed value compare to similar homes in Wolseley?
The property’s $335,000 assessment is slightly below the street average of $336,900 and well below the neighborhood average of $371,300. Citywide, it’s also below the comparable-home average of $390,100, which suggests it may be priced relatively affordably for its area.

2. Is the living area unusually small for a house of this era?
On Basswood Place, the 1,138 sqft is below the street average of 1,301 sqft (ranked 39th out of 53). This is consistent with some original Wolseley homes that were more modest in size. It’s not unheard of for 1911 builds, but buyers accustomed to modern suburban floor plans should note the square footage is compact.

3. What does the lot size mean for outdoor space or future expansion?
The 2,750 sqft lot is smaller than most in the neighborhood—ranked in the bottom 27% for Wolseley—and very small compared to the citywide average for comparable homes (6,570 sqft). Landscaping or additions would need to work within a tight footprint. This is common for older urban lots, but not ideal if gardening or a large garage is a priority.

4. How does the year built affect maintenance or renovation expectations?
Built in 1911, it’s older than 93% of comparable homes citywide. That can mean solid early-1900s construction (e.g., balloon framing, plaster walls, possibly a stone foundation), but also a higher likelihood of outdated systems, lead paint, or asbestos. A thorough inspection is recommended, especially for wiring, plumbing, and insulation.

5. Why does the property rank lower on living area but higher on age within its street?
This is typical of older, unrenovated homes in a street with a mix of eras. Many neighboring houses were built in the following years (street average is 1913) and may have been expanded or rebuilt with more square footage. The property’s ranking reflects that it’s both one of the oldest and one of the smallest on the block—offering historical character at the cost of modern size.