1242 Wellington Crescent – Property Summary
Key Characteristics & Buyer Profile
This is a 1919-built home on Wellington Crescent with 2,040 sq. ft. of living space and a 7,970 sq. ft. lot. Its standout feature is size relative to the city as a whole: the living area ranks in the top 10% citywide, and the lot is in the top 11%. Within its own street and neighbourhood, however, both figures sit close to the average—meaning the property offers above-average space for Winnipeg without being oversized for its immediate surroundings. The assessed value (for tax purposes) is $570,000, which again is high citywide (top 10%) but below the averages for Wellington Crescent and the broader Wellington neighbourhood.
The house is older than most in every comparison—86th percentile on the street, 87th in the area, 88th citywide. That’s not unusual for this part of town, but it does mean a buyer should expect an older structure with the character and potential maintenance that comes with it.
Where the appeal lies: The property gives you a foothold on a prestigious street without commanding the premium price of its larger neighbours. You get generous space and land by city standards, in a location where land values are high, but the entry point is more moderate. It’s a solid middle-ground option on one of Winnipeg’s best-known residential streets.
Who it suits: Buyers who want to be on Wellington Crescent but aren’t looking for a showpiece estate. It works for someone who values location and square footage over a newer build, and who is comfortable with a home that may need updates or ongoing upkeep. It could also suit an investor or renovator who sees potential in a well-sited older home below the neighbourhood’s typical price point.
Five Frequently Asked Questions
1. How does the property compare to others on Wellington Crescent?
It’s close to the street average for living area and lot size, but significantly below average in assessed value. That means it’s not one of the larger or more expensive homes on the Crescent—it’s a more modest option in a high-end corridor.
2. Is the 1919 build a concern?
Not necessarily, but it’s worth knowing that this house is older than roughly 85% of homes on the same street and nearly 90% citywide. Older construction often means solid materials and character details, but also potential issues with plumbing, electrical, insulation, and foundation. A thorough inspection is strongly recommended.
3. What does “assessed value” actually mean here?
The $570,000 figure is the city’s valuation for property tax purposes, not a market price. It suggests the city considers this property less valuable than most others on Wellington Crescent, which could translate to relatively lower property taxes. It doesn’t set a ceiling on resale value—market conditions and renovations can shift that significantly.
4. How does the lot size affect usability?
At just under 8,000 sq. ft., the lot is generous for Winnipeg but on the smaller side for Wellington Crescent. It offers room for a decent backyard, garden, or expansion, but it won’t have the sweeping grounds some neighbouring properties have. It’s practical, not palatial.
5. Is this a good investment property?
Possibly, if you’re buying for location and long-term appreciation. The property sits on a desirable street at a below-average price point for the area, which could offer upside if renovated or held over time. But the older structure and need for updates should be factored into any return calculations. It’s not a turnkey rental.