161 Walnut Street – Property Summary
Key Characteristics & Buyer Profile
This 1,420 sqft home sits on a 2,543 sqft lot in Winnipeg’s Wolseley neighbourhood. Built in 1907, its living area ranks slightly below average for its street but around average for the neighbourhood and above average citywide. The assessed value of $363,000 is roughly in line with local and citywide medians.
The appeal here is not about standing out—it’s about fitting in without paying a premium. The home is modestly sized for Wolseley, where many lots are larger, and it’s older than most homes in the city. That age may come with character or renovation needs, depending on upkeep. What makes it interesting: while the lot is small by Wolseley standards (79th percentile for the neighbourhood), it’s still larger than many urban infill lots in newer parts of Winnipeg. The assessed value sits near the middle of the pack, suggesting no obvious overvaluation relative to peers.
This property suits buyers who value the Wolseley location—a mature, walkable neighbourhood with established trees and a strong sense of community—over square footage or a modern build. It’s a good fit for someone open to an older home who wants to avoid the city’s pricier pockets but still be close to downtown and the river. It may also appeal to buyers who plan to renovate over time rather than needing everything finished immediately.
Five Possible FAQs
1. How does the lot size compare to other Wolseley properties?
The lot is smaller than about 79% of homes in the neighbourhood, where the average is 3,434 sqft. However, it’s still larger than 60% of lots on Walnut Street itself and much larger than the citywide average for comparable homes (6,570 sqft). For Wolseley, a smaller lot often means less yard maintenance—something some buyers actively look for.
2. Is the assessed value of $363,000 reasonable?
The assessment is slightly above the Walnut Street average ($337,500) but below both the Wolseley average ($371,300) and the citywide average ($390,100). It ranks around the 46th percentile on the street and 42nd in the neighbourhood, indicating a property valued close to the middle of its local market. There’s no red flag here, but you’d want to confirm the assessment aligns with recent sales.
3. What does the 1907 construction year mean in practical terms?
The home is older than 96% of properties citywide and about 89% of homes in Wolseley. That likely means original materials (lathe and plaster, solid wood framing, potentially knob-and-tube wiring or lead pipes) and possibly a higher likelihood of needing updates to insulation, windows, or mechanicals. It also places the home in a period known for solid craftsmanship and character details like high ceilings or built-ins—if they’ve survived.
4. Is the living area small for a Wolseley home?
At 1,420 sqft, it’s close to the neighbourhood average of 1,622 sqft. While it’s smaller than the average on Walnut Street (1,723 sqft), it’s well within the typical range for the area and above the citywide average for comparable homes (1,342 sqft). For Wolseley, which has a mix of modest worker cottages and larger character homes, this size is neither unusually tight nor spacious.
5. How does this property compare to newer homes in Winnipeg?
On almost every metric—lot size, living area, and age—this home is typical of Wolseley but well below newer subdivisions. Citywide, it ranks in the 94th percentile for small lots and the 96th for old construction. The trade-off is location and walkability: Wolseley offers tree-lined streets, proximity to the Assiniboine River, and a commercial corridor, while newer areas often require driving for amenities and have significantly larger lots and houses.