221 Chestnut Street – Property Summary
Key Characteristics & Ideal Buyer Profile
This is a 1907 home in Wolseley with 2,003 square feet of living space on a 3,079-square-foot lot. Its assessed value is $459,000.
The property’s strongest feature is its size. It ranks in the top 24% on its street, top 22% in the neighbourhood, and top 11% citywide for living area. The assessed value is also notably above average for Chestnut Street (top 12%) and the neighbourhood (top 16%), though slightly less dominant citywide (top 27%). The lot and year built are closer to typical for the area—neither a standout nor a drawback.
The appeal lies in having more interior space than most comparable homes without the premium of a larger lot or a newer build. It’s a practical, functional home for someone who prioritizes room to spread out over curb appeal or a big yard. The age means character and established neighbourhood bones, but also potential maintenance considerations.
This property suits buyers who want a spacious home in an established central Winnipeg neighbourhood, value square footage over lot size or new construction, and are comfortable with the realities of a century-old house. It may also appeal to someone looking for a home that already sits above local value benchmarks, suggesting solid resale positioning.
Frequently Asked Questions
1. How does the living space compare to other homes in Wolseley?
The home is significantly larger than average. In a neighbourhood where comparable homes average around 1,622 square feet, this one offers nearly 400 extra square feet. That’s a meaningful difference for families or anyone needing dedicated space for work or hobbies.
2. The assessed value is $459,000—what does that mean for property taxes?
Assessed value is used by the city to calculate property taxes, but it doesn’t directly equal market price. The fact that the assessment is above average locally suggests taxes will be on the higher side for the area. However, relative to the extra living space, the tax burden may feel proportionate for the square footage gained.
3. Is the 1907 build a concern?
It depends on your expectations. Older homes often have solid construction but may need updates to systems, insulation, or windows. The home is not exceptionally old for Wolseley, where many homes are from similar years. A thorough home inspection would clarify the condition of mechanicals, foundation, and roof.
4. How does the lot size affect use of the property?
At 3,079 square feet, the lot is slightly below the neighbourhood average but typical for the street. It’s not a large yard by city standards, but it’s enough for a garden, small patio, or pets. Buyers seeking a big backyard or expansion potential may find it limiting.
5. Why is the citywide ranking for lot size so low if the lot seems average?
Citywide rankings include many newer suburban properties with much larger lots—often double or triple the size. Within Wolseley and on Chestnut Street, this lot is at or near the median, so it’s typical for the immediate area even if it ranks lower across Winnipeg as a whole.