1031 Palmerston Avenue

1031 Palmerston Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1,195 sqft home built in 1931, located in Winnipeg’s Wolseley neighbourhood, sitting on a 2,726 sqft lot. Its assessed value is $384,000.

The property’s most notable feature is its age. At 1931, it’s older than most homes on its street and significantly older than the citywide average (1966). In Wolseley specifically, it ranks in the top 7% for age—meaning this is one of the earlier-built houses in a neighbourhood already known for its vintage character. For someone who values pre-war craftsmanship, established landscaping, or a home with a story, this is a meaningful detail.

The living area is below average for the street and neighbourhood, but right around average for the city. The lot is notably small: ranked 76th out of 77 homes on Palmerston Avenue, and well below both the neighbourhood and city averages. That will appeal to buyers who want lower-maintenance outdoor space and aren’t looking for a large yard.

The assessed value sits below the street average but is consistent with the neighbourhood and city medians. In other words, you’re not paying a premium for the street’s higher-end homes—this property is priced more in line with the broader area.

This home would suit a buyer who values older character, doesn’t need a large lot, and is looking for a reasonably priced entry into Wolseley. It may also appeal to someone who wants a renovation project in a neighbourhood with established bones, without the premium attached to larger or more updated homes on the same street.

Five Possible FAQs

1. How does this home compare to others on Palmerston Avenue?
It’s smaller in both living area and lot size than most homes on the street, and its assessed value is significantly lower than the street average of $588,400. However, it’s also older than most, which may appeal to buyers seeking pre-war character.

2. Is this a good investment for the Wolseley neighbourhood?
The assessed value is in line with the neighbourhood average, and the home’s age places it among the older properties in the area—something that can hold or gain value if maintained well. The small lot may limit resale appeal for some buyers, but it also keeps the entry price lower.

3. How much yard space does this property actually have?
The lot is 2,726 sqft, which is well below average for the street (5,522 sqft), the neighbourhood (3,434 sqft), and the city (6,570 sqft). It’s a compact lot, suitable for buyers who want outdoor space without the upkeep of a larger yard.

4. What does “top 7% for year built” actually mean in Wolseley?
It means only about 7% of homes in the neighbourhood are older than this one. Wolseley is known for its older housing stock, so this property is among the earlier-built homes in an already character-rich area. That can be a plus for preservation-minded buyers.

5. Is the assessed value likely to go up?
The assessed value is already close to the neighbourhood and city averages, and below the street average. Future changes will depend on renovations, market conditions, and comparable sales. The smaller lot and living area may cap upside relative to larger homes, but the older character and neighbourhood desirability offer some stability.