514 Telfer Street S – Property Summary

Key Characteristics & Buyer Profile

This is a 1919 Wolseley house with an 826 sqft living area on a 3,774 sqft lot, assessed at $355,000. The standout feature is the land. It ranks in the top 20% on its street and top 22% within Wolseley for lot size, well above the neighborhood average. That means more outdoor space than most comparable homes nearby, which is uncommon in this older, established area where lots tend to be smaller and more uniform.

The house itself is compact. The living area ranks below average at every level—street, neighborhood, and citywide—so it’s a small footprint relative to peers. The assessed value, however, sits above average on the street (top 15%) and around average for the neighborhood and city. This suggests the value is being driven more by the land and location than by the size of the home.

The year built (1919) is typical for Wolseley—many homes in the area date from the 1910s and 1920s—so you’re not dealing with a rare or anomalously old structure. It’s consistent with the character of the neighborhood.

Appeal: The main draw is owning a larger-than-usual lot in a desirable inner-city neighborhood with mature trees, walkable streets, and proximity to the river, shops, and transit. The house itself is small, which could be seen as a lower-maintenance living space or as a blank slate for renovation or expansion (subject to zoning).

Buyer profile: This property would suit someone who prioritizes location and outdoor space over interior square footage—perhaps a first-time buyer willing to update a smaller home over time, or someone looking for a Wolseley address at a lower price point than larger homes in the area command. It may also appeal to a buyer with an eye on future land value, given the lot size relative to the street.

Frequently Asked Questions

1. Is 826 sqft unusually small for Wolseley?
Yes, it’s on the smaller end. The average living area for comparable homes in Wolseley is 1,622 sqft, so this property is roughly half that. However, there are other smaller homes in the area from the same era, and the lot is larger than many.

2. The assessed value seems high for the house size. Why?
Assessed value reflects the land and location, not just the structure. The lot is larger than typical for the street, and Wolseley is a sought-after neighborhood. The value is likely land-driven, which is common for older, smaller homes in desirable central areas.

3. What does “Top 15% on the street” for assessed value actually mean?
It means this property is ranked 12th out of 82 comparable homes on Telfer Street. Only 11 homes on the street have a higher assessed value. So in terms of market value relative to immediate neighbours, it’s well above median.

4. How old is the house, and does that come with typical issues?
Built in 1919, so over a century old. That’s standard for Wolseley. Older homes can have outdated wiring, plumbing, insulation, and foundation issues. Any serious buyer should budget for a thorough inspection and be prepared for maintenance quirks that come with a house of this vintage.

5. How does the lot size compare to the rest of Winnipeg?
The lot (3,774 sqft) is below the citywide average of 6,570 sqft, but that’s typical for older, close-in neighbourhoods. The relevant comparison is the street and neighborhood, where it’s above average. Citywide rankings are less meaningful here because newer suburbs have much larger lots.