188 Chestnut Street – Property Summary
Key Characteristics & Buyer Profile
This 1,886 sqft home on Chestnut Street was built in 1907 and sits on a 2,940 sqft lot. Its assessed value is $392,000.
The property’s main strength is its living space. It’s above average for its street (42nd percentile), well above average for the Wolseley neighbourhood (29th percentile), and ranks in the top 14% citywide. In practical terms, this means the house offers noticeably more interior room than most comparable homes in Winnipeg.
The lot is on the smaller side—below average for the street and for the city overall. This is common for older, character homes in established central neighbourhoods. The year built (1907) also places it among the older homes in Wolseley and citywide, which may appeal to buyers who appreciate pre-war construction and original detailing.
Where the property sits in terms of value is straightforward: it’s around the average on its street, in the neighbourhood, and across the city. It’s not undervalued or overvalued relative to its peers.
This home would suit buyers who prioritize interior square footage and want to be in Wolseley—a walkable, mature neighbourhood with a mix of historic houses and established tree-lined streets. It’s less suited to someone seeking a large yard or a newer, low-maintenance property. Buyers should also be aware that older homes can come with higher upkeep, especially regarding foundations, wiring, and plumbing.
Five Possible FAQs
1. How does the living space compare to other homes in Wolseley?
The 1,886 sqft is above average for the neighbourhood, and significantly above the citywide average for comparable homes (1,342 sqft). It ranks in the top 29% within Wolseley.
2. Is the lot size typical for this area?
Not really. At 2,940 sqft, it’s smaller than the average lot on Chestnut Street and well below the citywide average (6,570 sqft). However, it’s fairly typical for older infill lots in central Winnipeg neighbourhoods, where yards tend to be compact.
3. What does the assessed value tell me about pricing?
The $392,000 assessment is roughly in line with other homes on the street, in Wolseley, and across the city. It suggests the property is neither a bargain nor overpriced relative to its location and size. Keep in mind that assessed value isn’t always the same as market value, but it provides a useful benchmark.
4. How old is the house, and should that be a concern?
Built in 1907, it’s older than most homes citywide (top 96% for age) and older than many in Wolseley. While older homes often have better materials and craftsmanship, buyers should budget for potential updates to electrical systems, plumbing, insulation, and the roof. A thorough home inspection is strongly recommended.
5. What kind of buyer is this property best for?
Someone who values interior space and wants to live in Wolseley without paying a premium for a large yard or a recently built home. It would work well for a family, a couple, or someone who plans to renovate selectively. It’s less ideal for buyers seeking a move-in-ready newer build or a property with a big outdoor area.