525 Sprague Street – Property Summary
Key Characteristics & Buyer Profile
This 1925 home in Wolseley offers 1,080 sq ft of living space on a 3,934 sq ft lot. Its assessed value is $395,000. The property sits slightly below the average living area for its own street and well below the Wolseley neighbourhood average, but it tracks close to the citywide median. The land is smaller than typical for the street and the city, though above average for the surrounding area. The home is older than most properties in Winnipeg, but it ranks among the newer builds on Sprague Street and within Wolseley, where many homes date to the 1910s.
The appeal here lies in relative value. The assessed price is above the street average and competitive within the neighbourhood, despite the smaller floor plan and lot. That suggests the premium is attached to the home’s condition, location, or character—not sheer size. Buyers drawn to Wolseley’s established, walkable streets and older housing stock will find this property less of a fixer-upper relative to neighbours, while still being priced below many newer or larger homes in the city. It suits buyers who prioritise neighbourhood feel and a well-positioned, modestly sized home over square footage or a large yard. It may also appeal to those who see value in a property that's slightly newer for the area, potentially requiring fewer immediate updates than a 1910s build.
Frequently Asked Questions
1. How does the assessed value compare to similar homes nearby?
The assessed value of $395,000 is above the Sprague Street average ($367,000) but closely aligned with the Wolseley average ($371,000) and the citywide average ($390,000). This suggests the home is priced consistently with its immediate area and the broader market.
2. Is this property considered small for the neighbourhood?
Yes, in terms of both living area and lot size. The 1,080 sq ft is below the Wolseley average of 1,622 sq ft, and the 3,934 sq ft lot is smaller than the street average (4,129 sq ft). However, the lot is actually larger than the typical Wolseley lot (3,434 sq ft), so outdoor space is not unusually tight by local standards.
3. How old is this home, and does that affect its value?
Built in 1925, it’s newer than most homes on Sprague Street (average 1923) and in Wolseley (average 1916), but significantly older than the citywide average (1966). Its age places it in the top 15% of homes in the neighbourhood by newer build date, which can be a practical advantage in terms of structural updates and maintenance history.
4. What does "ranked 12/50 on the street" for assessed value mean?
It means that out of 50 comparable properties on Sprague Street, this home has the 12th highest assessed value. In other words, it’s in the top 24% of the street by price, which is above average. This ranking reflects both the home’s relative appeal and the local market’s valuation of its features.
5. How does this property compare to others in the city overall?
Across Winnipeg, this home ranks in the top 40% by assessed value and the top 63% by living area. That means it’s priced slightly higher than many homes, but is smaller than average. The lot is in the bottom 24% citywide. Buyers should expect a modest footprint in a historically desirable neighbourhood rather than space or land, which aligns with Wolseley’s character.