509 Camden Place – Property Summary
Key Characteristics & Buyer Profile
This is a 1,321-square-foot home built in 1911, located on a 2,361-square-foot lot in Winnipeg’s Wolseley neighbourhood. The property is currently assessed at $229,000.
What stands out here is the value proposition. The assessed value ranks at the very bottom of the street (48 out of 48) and well below neighbourhood and city averages. That’s unusual for Wolseley, a neighbourhood known for older, character homes that typically carry higher price tags. The living area is around average for the street and city, and the lot size is slightly smaller than neighbourhood norms but still functional.
The appeal lies in entry-level pricing in a desirable area. You’re getting a foothold in Wolseley—a mature, walkable neighbourhood close to the river, shops, and downtown—without paying the premium many nearby homes command. The trade-off is that the house and lot are both modest, and the year built (1911) suggests ongoing maintenance needs.
This property suits first-time buyers who want to be in a central, established neighbourhood but have a tighter budget. It could also work for an investor looking for a lower-cost entry into an area with strong rental demand. It’s less suited for someone seeking turnkey condition or a large family lot.
Frequently Asked Questions
1. Why is the assessed value so low compared to other homes on the street?
The assessment reflects the home’s size and condition relative to its neighbours. Being ranked last on Camden Place suggests this property may have older systems, finishes, or deferred maintenance compared to others. Your own appraisal and inspection will clarify the specifics.
2. Is the lot size a problem for this type of home?
At 2,361 square feet, it’s smaller than the Wolseley average (3,434 sqft) and well below the city average. That limits options for major additions or a large garage. However, it’s typical for older infill lots and manageable for a single-family home or small yard.
3. How much work should I expect from a home built in 1911?
Considerable. Foundation, wiring, plumbing, and insulation are all potential concerns. While the home is ranked around average for its age on the street, that simply means it’s similar to other century-old houses nearby. Budget for ongoing repairs and upgrades.
4. How does this home compare to others currently for sale in Wolseley?
Most properties in Wolseley will have higher assessed values and larger lots. This home is priced well below the neighbourhood median, which is rare in this area. That could mean less competition among buyers, but also limits your resale pool to those seeking a budget entry point.
5. What’s the rental potential in this area?
Wolseley has steady demand due to its proximity to the University of Winnipeg, shops, and transit. A modest single-family home like this could generate decent cash flow if purchased near the assessed value, though rental income should be weighed against expected repair costs and the smaller lot.