515 Sprague Street – Property Summary

Key Characteristics & Buyer Profile

This is a 1923-built home in Wolseley with 1,060 sq. ft. of living space on a 3,935 sq. ft. lot. Its assessed value sits at $387,000.

What stands out most is the land. Within Wolseley, the lot is ranked in the top 18%—significantly larger than the neighbourhood average of 3,434 sq. ft. On the street itself, however, the lot runs slightly smaller than neighbours, so the property offers more yard than what’s typical for Wolseley, but not by Sprague Street standards. The home’s age is also notable: it was built in 1923, which puts it in the top 20% oldest in Wolseley, meaning it’s among the earlier homes in an area already known for its older character stock.

The living area and assessed value are consistently around average compared to similar homes on the street, in the neighbourhood, and across Winnipeg—nothing out of the ordinary there. The home doesn’t stand out on square footage or price, which makes the larger lot the real differentiator.

This property would suit a buyer who values outdoor space in a central, established neighbourhood and is comfortable with an older home that may need updating. It’s less suited for someone looking for a move-in-ready, modern floor plan or a truly oversized city lot. Wolseley buyers tend to be drawn to the area’s character, tree-lined streets, and walkability—this home fits that profile, with the bonus of more yard than most nearby properties offer.

Five Possible FAQs

1. How does the lot size compare to other Wolseley properties?
The lot is 3,935 sq. ft., which ranks in the top 18% for the neighbourhood. Most homes in Wolseley sit on around 3,434 sq. ft., so this one gives you roughly 500 extra square feet of outdoor space compared to the local average.

2. Is the assessed value of $387,000 reasonable for the area?
The assessment is very close to both the street average ($367,200) and the neighbourhood average ($371,300). It’s slightly below the citywide average for comparable homes ($390,100). Across all three levels, the value falls within a narrow, typical range—neither high nor low for what’s around it.

3. What does “top 20% for year built” in Wolseley actually mean?
It means this home was built earlier than roughly 80% of the other homes in the neighbourhood. Wolseley has a mix of early 1900s and mid-century construction, so a 1923 build places it among the older stock. That can appeal to buyers who want original character, but may also mean older systems or foundations.

4. How does the living space compare to other homes on the street?
At 1,060 sq. ft., it’s slightly below the street average of 1,267 sq. ft. For context, that puts it around the middle of the pack—ranked 32nd out of 50 homes on Sprague Street. It’s not a small home by city standards, but it is on the smaller side for its immediate street.

5. What’s the neighbourhood like for resale value?
Wolseley is a well-established, desirable central Winnipeg neighbourhood. The home’s assessed value sits near local averages, and the larger-than-average lot is a feature that often holds or adds value over time. Older homes in this area tend to attract buyers who value location and character over modern finishes, so resale depends largely on how well the property is maintained and updated.