98 Lipton Street, Wolseley

Property Overview

This 1,420 sqft home, built in 1913, sits on a 2,491 sqft lot in Winnipeg’s Wolseley neighbourhood. Its standout feature is value relative to size. The living area ranks in the top 22% on Lipton Street and above the citywide average of 1,342 sqft, while the assessed value of $289,000 falls below both the neighbourhood and citywide averages. That means you get more square footage per dollar than most nearby properties. The lot is smaller than typical for Wolseley (the neighbourhood average is 3,434 sqft) and significantly smaller than the Winnipeg average, so outdoor space is limited. The home’s age is slightly older than the street average but fairly typical for the area, which is known for early 1900s character homes.

The appeal is straightforward for buyers who prioritize interior space and walkability over a large yard. Wolseley is a mature, central neighbourhood with tree-lined streets, older architecture, and proximity to shops, the river, and transit. It suits someone who wants a functional, above-average living area in a desirable inner-city pocket without paying a premium for a big lot or a fully renovated exterior. This could work well for a couple, a small family, or a buyer interested in a character home that’s not overpriced for its size.

Frequently Asked Questions

1. How does the assessed value compare to what I’d actually pay?
The assessed value of $289,000 is a municipal valuation, not a market price. In Wolseley, homes often sell near or slightly above assessment depending on condition and updates. Given that this property is below the neighbourhood average in assessed value but above average in living area, it signals that the market may not be heavily discounting it—but it also doesn’t carry a premium for a large lot or finishes. You’d want to check recent sales on Lipton Street for a clearer picture.

2. The lot is small. What does that mean practically?
At 2,491 sqft, the lot is well below the citywide average of 6,570 sqft. This likely means a modest front and back yard, limited space for gardens or play areas, and less privacy from neighbours. It also means less exterior maintenance. For someone who wants a low-yard-work lifestyle or plans to use nearby parks for outdoor space, it’s a trade-off that can work well. If you plan additions or a garage, confirm setback allowances with the city.

3. Is a 1913 home risky in terms of maintenance?
Not necessarily, but it depends on what’s been updated. Homes of this vintage often have solid framing and good bones, but systems like plumbing, electrical, and insulation may be original or outdated. The fact that the assessed value is not exceptionally low suggests the home is in reasonable condition, but a thorough inspection is wise. Character details (trim, windows, doors) are common in Wolseley and can be costly to replace or maintain.

4. Why is the living area above average but the value below average?
This usually points to a home that is larger than typical for its price point, which can mean the interior is functional but not recently updated, or the lot and exterior features drag the value down. It could also reflect a quieter market segment—homes in lower price ranges often have a higher square-foot-to-dollar ratio than luxury properties. For buyers, this can be a smart entry point if they’re willing to put in cosmetic work.

5. How does this property rank for its age within Wolseley?
The home ranks in the top 30% for older homes within the neighbourhood, meaning it’s on the earlier side even for Wolseley, where the average build year is around 1916. Citywide, however, it’s in the bottom 10%—most Winnipeg homes are much newer. This matters if you’re looking for heritage character, but also if you’re budgeting for potential upgrades like insulation or roof work that reflect the home’s century-old construction.