494 Sprague Street – Property Summary

Key Characteristics & Buyer Profile

This is a 1922-built home with 1,344 sq ft of living space on a 3,937 sq ft lot, located in Winnipeg’s Wolseley neighbourhood.

The property sits near the middle of the pack on Sprague Street for both size and assessed value. Its living area falls slightly above the average for its own street (1,267 sq ft) and below the Wolseley average (1,622 sq ft), but is almost identical to the citywide average (1,342 sq ft). The assessed tax value of $340,000 is slightly below all three comparison groups—street, neighbourhood, and city—which means the property is priced modestly relative to its surroundings.

The lot is a standout: it ranks in the top 17% within Wolseley, well above the neighbourhood average of 3,434 sq ft. That’s unusual for a street where lot sizes tend to hover around 4,129 sq ft, and the home sits on a parcel that gives it more outdoor space than most nearby properties. At the same time, the lot is smaller than the Winnipeg average (6,570 sq ft), which reflects the dense, older character of the area.

The home’s age (1922) is typical for the street and newer than the average Wolseley home (1916), but significantly older than the citywide average (1966). This places it in a sweet spot for buyers who want pre-war character without the oldest maintenance profile in the neighbourhood.

Appeal: The property offers a solidly average interior footprint, a below-average tax assessment, and a notably generous lot for the area. That combination tends to attract buyers who value outdoor space and lower carrying costs over a large house. It’s a logical fit for someone looking to renovate or expand on a good-sized lot in a desirable central neighbourhood, without paying a premium for square footage they don’t need.

Suitable for: First-time buyers looking for a smaller home with room to grow; renovators or investors who see upside in adding livable space; and anyone drawn to Wolseley’s established tree-lined streets, walkability, and older housing stock but who wants a slightly newer structure than the area norm.

Frequently Asked Questions

1. How does this home compare to others currently for sale in Wolseley?
The data compares this property to all homes in the area—not just active listings. It ranks in the top 17% for lot size within Wolseley, which is rare. Its living area and assessed value are both below the neighbourhood average, meaning it’s likely more affordable than many Wolseley listings, especially those on larger lots.

2. Is a 1922 home likely to have functional issues?
Homes of this vintage often have older plumbing, electrical, and foundation systems. Because this property’s build year is typical for its street and newer than many in Wolseley, it may not be the most demanding pre-war home in the area—but a thorough inspection is still essential. Buyers should budget for possible updates, especially to mechanicals.

3. Why is the assessed value lower than the city average even though the home is in a desirable neighbourhood?
Assessed value reflects local market conditions, not just desirability. This home’s living area is modest, and its lot—while large for Wolseley—is still well below the citywide average. Lower square footage and a smaller overall footprint compared to newer suburban homes help keep the assessment down. That can be an advantage for tax purposes.

4. Could the lot support an addition or a secondary suite?
At just under 4,000 sq ft, the lot is generous by Wolseley standards but still compact in absolute terms. Whether an addition is feasible depends on zoning, setbacks, and the home’s existing footprint. Buyers should check with the city before assuming they can expand significantly. A garage or garden suite may be more realistic than a major addition.

5. What does “接近平均” mean in the rankings?
The phrase indicates the home’s value or size falls close to the median for that comparison group—neither a strong outlier nor notably below par. In practical terms, it means the property is a middle-of-the-road option in most categories, with the main standout being its lot size relative to the immediate neighbourhood.