221 Walnut Street — Property Overview
Key Characteristics & Ideal Buyer Profile
This 1911 home in Wolseley offers 2,127 square feet of living space on a 3,459-square-foot lot. The property stands out most for its size: ranked in the top 10% on its street, top 15% in the neighbourhood, and top 8% citywide for living area. The lot is generous by street standards (top 15%) but modest compared to the city average, which reflects the older, more compact character of central Winnipeg neighbourhoods.
The assessed value of $402,000 sits above the street average ($337,500) and neighbourhood average ($371,300), but lands right around the citywide median. This suggests the home's value is tied more to its size and location than to recent renovations or premium finishes — something to verify in person.
The year built (1911) is typical for Wolseley but places the home in the oldest 7% citywide. Buyers should expect character details alongside the realities of an older home: potential updates needed for plumbing, electrical, insulation, and windows.
Who it suits: Buyers who want above-average interior space in a central, established neighbourhood, and who value location and square footage over a modern build. It's less suited for someone seeking a large yard or a turnkey property.
Frequently Asked Questions
1. How does the lot size compare to other homes in Wolseley?
The lot is slightly above average for the street (top 15%) and right around the neighbourhood median. Citywide, it's on the smaller side — typical for inner-city areas where land is more expensive per square foot.
2. Is the assessed value a reliable indicator of market price?
Assessed value reflects the city's estimate for property tax purposes, not current market value. In a neighbourhood like Wolseley with strong demand, homes often sell above assessment. Comparable sales in the area will give a clearer picture.
3. What should I look for in a 1911 home beyond the obvious?
Check the foundation for settling or cracks, especially in clay soil areas common to Winnipeg. Look at the electrical panel — knob-and-tube wiring may still be present. Also note whether windows are original or replaced, and ask about insulation in exterior walls and attic space.
4. How does this home compare to others on Walnut Street specifically?
It's one of the larger homes on the street (ranked 9th out of 87), and one of the older ones (ranked 5th for year built). The assessed value is higher than most on the street, but that's consistent with the larger living area.
5. What's the neighbourhood like for families or professionals?
Wolseley is a well-established area with mature trees, a mix of families and long-term residents, and walkable access to shops, schools, and the river. Homes here tend to hold value well, though you're paying a premium for proximity rather than for a large yard or modern finishes.