509 Dominion Street – Property Summary

Key Characteristics & Buyer Fit

This is a large, older home on an oversized lot in Wolseley. The living area (2,492 sq. ft.) ranks in the top 2% on Dominion Street and top 3% citywide—well above the typical home in the area. The land itself is nearly 5,000 sq. ft., which is generous for the street (top 4%) but actually close to average for Winnipeg as a whole, where lots tend to be bigger.

The assessed value ($415K) is above average for the street and neighbourhood, but roughly in line with the citywide median. That suggests the home carries a modest premium for its size and location, without being overvalued relative to the broader market. The year built (1911) is older than most homes on Dominion Street and far older than the citywide average, which is typical for Wolseley—a neighbourhood known for its early 20th-century character homes.

Where the appeal lies: Buyers who want space—both indoors and outdoors—without leaving the core. The living area is genuinely large for an older urban neighbourhood, and the lot offers room for gardens, additions, or simply breathing space. It’s not a flip or a recent renovation story; this is a character home that needs someone who values its bones and its position in the market.

Who it suits: Buyers looking for a family-sized home in a established, walkable neighbourhood. Also suited to anyone who prioritises square footage and yard size over a move-in-ready interior or a newer build. Investors or multi-generational households might find the space useful, but the age of the home means maintenance should be expected.

Frequently Asked Questions

1. How does this home compare to others on Dominion Street?
It’s in the top handful of homes for living area (2,492 sq. ft. vs. the street average of 1,126) and land size (4,977 sq. ft. vs. 3,790). The assessed value is also above the street median, but the biggest standout is the sheer size difference—this home is roughly double the typical square footage on the block.

2. Is the assessed value a reliable indicator of market price?
Assessed value is a lagging indicator based on municipal formulas, not current market conditions. At $415K, it’s above the street and neighbourhood averages but right around the citywide median. For buyers, it’s a useful benchmark to start from, but not a guarantee of sale price—especially if the home’s age or condition requires significant work.

3. Why is the year built a potential concern?
Homes from 1911 often have original structural elements (foundation, wiring, plumbing, insulation) that may need updating. The ranking shows it’s among the oldest homes on the street (top 95% by age) and older than most citywide. That doesn’t mean it’s a problem, but it does mean a thorough inspection is wise, and ongoing maintenance is more likely than in a newer build.

4. How does the lot size work in practice?
The land area is generous for Wolseley and especially for Dominion Street, but it’s not large by citywide standards. That’s typical for inner-city neighbourhoods—you get more yard than most nearby homes, but you’re not looking at a suburban lot. It’s worth seeing in person to understand the shape, orientation, and potential uses.

5. What are the trade-offs of buying in this price range in Wolseley?
You’re paying a premium for space and location, but the home’s age and the fact that it’s assessed near the citywide average suggest the price reflects the character and size rather than luxury finishes. You’ll likely get more square footage here than in a newer home at the same price point, but you’ll also inherit the quirks and upkeep of a century-old house. For buyers who value mature trees, walkability, and original details, that trade-off often works.