770 Honeyman Avenue – Property Summary

Key Characteristics & Buyer Suitability

This 1,859 sqft home on a notably large lot sits in Winnipeg’s Wolseley neighbourhood, built in 1905. Its main draw is the land: the lot ranks 2nd out of 23 homes on the same street (top 9%), and within Wolseley it’s in the top 10% for land area at 4,567 sqft. The living space is above average citywide (top 15%), though slightly smaller than the street average of 2,125 sqft. The assessed value of $342,000 is essentially in line with neighbouring homes, but below both the neighbourhood and city averages—meaning you’re paying for the lot and location rather than a fully modernized interior.

The appeal is twofold. First, the generous lot is unusual for an older, inner-city neighbourhood like Wolseley, offering room for gardens, expansions, or simply more outdoor privacy than most nearby properties. Second, the year built (1905) puts it among the older homes in the area—this will attract buyers who value period character, but it also means systems and structure may need more attention than a newer home.

This property would suit buyers who:

• Are comfortable with an older home and the maintenance that comes with it.
• Want a large inner-city lot but don’t need maximum square footage indoors.
• See potential to renovate or add value over time, rather than move into a turnkey finish.
• Are drawn to Wolseley’s walkable, established character.

Frequently Asked Questions

1. How does the assessed value compare to the home’s likely market price?
Assessed value is $342,000, which sits below the neighbourhood average of $371,300 and city average of $390,100. In older, character-rich areas like Wolseley, market prices often run above assessed values, especially for homes with desirable lots. You’d want to check recent sales on similar-sized lots in the area for a realistic comparison.

2. What’s the trade-off between the older year built and the large lot?
An 1905 home will likely have older plumbing, electrical, and insulation—possibly knob-and-tube wiring or lead pipes. The large lot, however, gives you options: you can add a garage, build a laneway suite, or expand the footprint. For some buyers, the lot is the asset and the house is something to update or replace. For others, the original character is non-negotiable, even if it means more upkeep.

3. Is Wolseley considered a family-friendly or investment-oriented neighbourhood?
Both. Wolseley has a strong sense of community, mature tree canopy, and is close to the river, shops, and schools, which appeals to families. It’s also seen steady demand from buyers who value older homes and walkable streets. The lot size here makes it more flexible than many Wolseley properties, which could help resale or future development potential.

4. How does the living area compare to typical homes in this price range?
At 1,859 sqft, it’s above the citywide average (1,342 sqft) but below the street average (2,125 sqft). For $342,000 in Winnipeg, you could buy a newer home with more square footage in a suburban area, but you’d lose the lot size, the neighbourhood character, and the proximity to downtown. It’s a trade-off between space and location.

5. What should I look for during a home inspection on a 1905 property?
Prioritize the foundation, roof structure, and any signs of knob-and-tube wiring. Check for old cast-iron or lead pipes, and whether the insulation is adequate (especially in walls and attic). Also note that older homes in Wolseley can have settling issues or outdated window frames. The large lot might also have drainage concerns if the ground slopes toward the house.