25 Evanson Street, Wolseley, Winnipeg

Property Overview & Ideal Buyer Profile

This is a compact, character-rich home in Winnipeg’s Wolseley neighbourhood, built in 1912. Its key distinguishing feature is assessed value relative to size: the property ranks in the top 25% on its street for assessed value ($371K), despite having below-average living area (1,053 sqft) and one of the smallest land parcels on the block (2,069 sqft). The assessed value holds steady against neighbourhood and city averages, suggesting the premium is tied to location, condition, or interior updates rather than sheer square footage.

The appeal lies in entry-point value within an established area. Wolseley is known for its tree-lined streets, older homes, and walkability—qualities that often command higher prices per square foot. For a buyer who prioritizes neighbourhood character and a lower purchase threshold over interior space or a large yard, this property offers a rare combination. It would suit first-time buyers looking to get into a desirable central neighbourhood without stretching to the area's typical price point, or investors seeking a compact rental asset in a stable market.

Less obviously, the property's small lot and modest footprint may appeal to buyers who prefer lower maintenance and are willing to trade yard space for proximity to amenities. The 1912 construction places it among the older homes on the street and in the neighbourhood, which can mean higher maintenance costs but also unique architectural details not found in newer builds. Buyers should be prepared for the realities of an older home, including potential system upgrades and energy efficiency considerations.

Frequently Asked Questions

1. How does the small lot size affect the home’s value or use?
The lot is significantly smaller than both the street average (2,487 sqft) and the neighbourhood average (3,434 sqft). This likely limits expansion potential for additions or garages, but it also means less outdoor upkeep. The assessed value indicates the market has already priced in the lot size—so the home’s value is driven more by its location and structure than land area.

2. Is this property a good investment compared to others in Wolseley?
The assessed value sits near the neighbourhood average, but the living area is well below it. That suggests you’re paying for location rather than space. Historically, character homes in walkable central neighbourhoods tend to hold value well, but the smaller footprint may limit appreciation relative to larger neighbouring properties. It’s a solid hold for cash flow or gradual equity growth, but unlikely to see the rapid gains of a fixer-upper in a less established area.

3. What should I expect regarding maintenance for a home built in 1912?
Older homes often require more frequent attention to roofing, windows, electrical, and plumbing. The year-built ranking is above average on the street, but below average citywide—so this house is old even by Winnipeg standards. A thorough inspection is critical, especially for foundation, knob-and-tube wiring, and lead pipes. Many Wolseley homes have been updated over the years, so check for permits on any recent renovations.

4. How does the living area compare to what’s typical for first-time buyers?
At 1,053 sqft, this is below the street, neighbourhood, and city averages for comparable homes. For a single person or a couple without children, this is perfectly functional. For a family, it may feel tight, especially if the layout is not open-concept. The ranking (top 92% on the street for smallest size) makes it one of the more compact options in the area—something to weigh if you plan to stay long-term.

5. Why is the assessed value relatively high given the small square footage and lot?
The assessed value reflects multiple factors beyond size, including location, condition, and recent sales of comparable homes. Being ranked in the top 25% on the street for value suggests this home has been well-maintained or updated in ways that boost its marketability. The Wolseley neighbourhood itself also carries a price premium due to demand, proximity to the river, and limited inventory of older character homes. In essence, you’re paying for the package, not the square footage.