541 Basswood Place – Property Summary

Key Characteristics & Buyer Profile

This is a 1927-built home in Winnipeg’s Wolseley neighbourhood, with 1,007 sq ft of living space on a 4,399 sq ft lot. Its assessed value is $342,000.

The property stands out most for its lot size and build date. Within Basswood Place, it ranks 3rd out of 53 homes for land area (top 6%) and also 3rd for newer construction (top 6%). In the Wolseley area, it sits in the top 11% for both lot size and build year. However, the living area is smaller than average for the street (1,007 sq ft vs. 1,301 sq ft) and the neighbourhood (1,622 sq ft). The assessed value is close to the street average but below the city median.

The appeal here is practical rather than flashy. Buyers who value a generous yard in an established, walkable neighbourhood—and who don’t need maximum square footage indoors—will find this interesting. The home is newer than most of its nearby peers (1927 vs. a street average of 1913), which may mean fewer major structural surprises for its age. It’s a fit for someone who wants character, outdoor space, and a quieter street in Wolseley, rather than a move-in-ready showpiece or a large interior.

Frequently Asked Questions

1. How does the living space compare to other homes in Wolseley?

It’s below average. The median living area in the neighbourhood is about 1,622 sq ft, and this home is roughly 600 sq ft smaller, placing it in the bottom 11% for the area. On its own street, it’s also on the smaller side.

2. Is the assessed value of $342,000 a good deal relative to the area?

The assessment is close to the street average ($337,000) but below neighbourhood ($371,000) and city ($390,000) averages. Because assessed value isn’t the same as market price, it’s worth comparing recent sale data—but the property is priced modestly relative to its surroundings.

3. What’s the lot like, and how usable is it?

At 4,399 sq ft, the lot is in the top 6% for Basswood Place and top 11% for Wolseley. That’s noticeably larger than street and area norms (around 3,100–3,400 sq ft), which gives room for gardens, a workshop, or future expansion—but it’s still below the city-wide average lot size.

4. How does the 1927 build year affect maintenance?

The home is newer than most on the street (which average 1913) and in Wolseley (1916), so it may have updated systems or foundation work compared to even older nearby homes. Still, it’s an almost 100-year-old house, so plumbing, electrical, insulation, and roofing should be inspected carefully. Buyers should budget for ongoing upkeep.

5. What type of buyer would this property not suit well?

Someone needing a large, open-concept interior or a turnkey modern home would likely be frustrated here. It’s also not ideal for anyone who wants a low-maintenance yard (the lot is substantial) or who prefers newer construction with standard layouts and warranties.