62 Chestnut Street – Property Overview

Key Characteristics & Buyer Profile

This is a 1,056 sqft home built in 1943, located in the Wolseley neighbourhood of Winnipeg. What stands out most is the construction year. The house ranks in the top 5% for its street and neighbourhood in terms of age—meaning it’s one of the older, more established homes in the area. For buyers who value pre-war character, solid older construction, or a street with a mature feel, this is a distinctive feature.

The lot is 3,309 sqft, which is above average for Chestnut Street but slightly below the Wolseley average. Citywide, it’s on the smaller side. The living area is below average for both the street and the neighbourhood, so interior space is modest. The assessed value sits at $348,000, which is around average on the street and slightly below the neighbourhood and city averages—suggesting the price reflects the smaller footprint rather than any premium for the older build.

This property would suit a buyer who prioritizes location and character over square footage. Someone who appreciates the Wolseley area, wants a home with history, and is willing to work within a compact layout. It may also appeal to those looking for a renovation project that doesn’t require a massive lot. It’s less suited for someone needing generous living space or a large yard.

Five Possible FAQs

1. How does the assessed value compare to similar homes nearby?
At $348,000, it’s slightly below the Chestnut Street average of $358,500 and the Wolseley average of $371,300. Citywide, the average for comparable homes is $390,100. So it’s priced modestly relative to its immediate surroundings.

2. Is the lot size considered small for the area?
It depends on the comparison. On Chestnut Street, the lot is above average—ranking in the top 20%. But within Wolseley, it’s around average, and citywide it’s on the smaller side (top 83%). So it’s a decent lot for the street, but not generous by broader standards.

3. What does the “top 5%” ranking for year built actually mean?
It means only 5% of homes on this street and in Wolseley are older than this one. Built in 1943, it’s among the earliest houses in the area. Citywide, it’s less rare—ranking in the top 80%—since older homes are more common across Winnipeg.

4. Is this a good candidate for renovations?
Potentially, yes. The older construction and below-average living area could benefit from an addition or interior reconfiguration. The lot, while not oversized, is workable. Keep in mind that older homes sometimes come with foundation, wiring, or plumbing considerations, so a thorough inspection would be wise.

5. How does living area rank compared to the city?
The 1,056 sqft is around average citywide for comparable homes (average 1,342 sqft), but below average on Chestnut Street (average 1,810 sqft) and in Wolseley (average 1,622 sqft). So it’s a smaller home for its immediate neighbourhood, but not unusually small for Winnipeg overall.