986 Palmerston Avenue – Property Summary

Key Characteristics and Buyer Profile

This is a large, high-value home in Winnipeg’s Wolseley neighbourhood, built in 1963. It offers 2,364 square feet of living space on a 10,244-square-foot lot. The numbers tell a clear story: the property ranks in the top 1% for assessed value both citywide and within the neighbourhood, and the lot size is among the largest on the street (top 3%) and in the area (top 1%). The living area is also well above average at every level—street, neighbourhood, and city.

The appeal is partly about space and partly about location. Wolseley is a mature, established area with larger lots and older homes, so finding a property of this size on this much land is uncommon. The 1963 build year is newer than most homes on the street (where the average is 1932) and newer than the neighbourhood average (1916), which means the structure is likely more modern in terms of materials and layout, without being a new build.

This property would best suit a buyer who wants a substantial single-family home with generous indoor and outdoor space, in an inner-city neighbourhood with character. It may also appeal to someone who sees long-term value in a large lot in a desirable area, whether for renovation, expansion, or holding. It’s less suited for someone seeking a move-in-ready modern home or a low-maintenance property.

Frequently Asked Questions

1. How does the assessed value compare to similar homes nearby?
The assessed value of $995,000 is well above both the neighbourhood average ($371,300) and the citywide average ($390,100). On Palmerston Avenue specifically, it ranks 4th out of 77 homes, placing it in the top 5% on the street.

2. Is the lot size unusual for Wolseley?
Yes. At just over 10,200 square feet, the lot is nearly three times the neighbourhood average of 3,434 square feet. It ranks in the top 1% for lot size within the area, which is significant for a mature neighbourhood where large lots are increasingly rare.

3. When was the house built, and how does that affect its condition?
The home was built in 1963. That makes it newer than most homes on the street and in the neighbourhood, where the averages are 1932 and 1916 respectively. While not a new home, a 1960s build often means better insulation, wiring, and floor plans than earlier houses, though updates and maintenance history would still matter.

4. How does the living space compare to other homes in Winnipeg?
With 2,364 square feet, the home ranks in the top 4% citywide for living area among comparable properties. That puts it well above the city average of 1,342 square feet, so it’s a genuinely large home by local standards.

5. What should I be aware of before viewing this property?
Given the large lot and high assessed value relative to the neighbourhood, the property may carry above-average property taxes. Also, because the home is older than 60 years, it’s worth checking for any major system updates—roof, HVAC, windows, plumbing—and whether the lot offers development potential, which can vary by zoning and local bylaws.