Property Summary: 168 Chestnut Street
Key Characteristics & Buyer Profile
This is a 1907 home with 1,524 sqft of living space on a 3,556 sqft lot. Its standout feature is assessed value: ranked 4th out of 99 homes on Chestnut Street (top 4%) and 10th in the Wolseley neighbourhood, with an assessed value of $500k against street and area averages closer to $360k–$370k. The lot is also above average for the street (top 11%) and neighbourhood (top 30%), though smaller than typical citywide lots. The living area is below average on the street (top 76%) but roughly average for Wolseley and above average citywide (top 29%). The home’s age is older than most—96th percentile citywide—suggesting original character and likely deferred maintenance.
Its appeal lies in land value and overall property worth relative to the immediate street and neighbourhood, not in square footage or modern construction. A buyer here is paying for location and lot, not interior size. This suits someone who prioritizes being on a high-value street in Wolseley, values a larger-than-typical city lot for that area, and is comfortable with an older home that may need updates. It is less suitable for someone who wants a move-in-ready, spacious interior or a low-maintenance newer build.
Five Possible FAQs
1. How does the assessed value compare to similar homes nearby?
It’s significantly higher. The $500k assessment is roughly $140k above the average on Chestnut Street and $130k above the Wolseley neighbourhood average. This places it in the top 4% on the street and top 10% in the area—meaning it’s one of the more valuable properties in its immediate context.
2. Is the living space smaller than typical for this street?
Yes. At 1,524 sqft, it’s about 286 sqft below the street average of 1,810 sqft and ranks 75th out of 99 homes. It’s closer to average for Wolseley (1,622 sqft) and above average citywide, so the smaller size is mainly a local street-level consideration.
3. What kind of lot does this property have?
It’s 3,556 sqft. That’s above average for Chestnut Street (top 11%) and above average for Wolseley (top 30%), but it’s well below the citywide average of 6,570 sqft (bottom 20%). So it’s a generous lot for the immediate area but small compared to typical Winnipeg lots overall.
4. Is a 1907 home a concern?
It depends on your tolerance for older construction. The home is older than most on its street (built 1907 vs. average 1913) and much older than the citywide average (1966)—96th percentile citywide. This likely means original details and character, but also potential issues with insulation, wiring, plumbing, or foundation that a newer home might not have. A thorough inspection is advisable.
5. Who is this property not for?
It’s likely not ideal for buyers who need a large, modern interior with an open floor plan; for those who want a low-maintenance, newer-build home; or for anyone who prefers a yard that matches citywide lot averages. It’s also less suitable if you’re price-sensitive and want top value for interior square footage, since you’re paying a premium for the street and lot, not for living space.