85 Lipton Street – Property Summary
Key Characteristics & Buyer Profile
This is a 1914-built home in Winnipeg’s Wolseley neighbourhood, with 1,640 sq ft of living space on a 2,561 sq ft lot. Its assessed value is $466k.
What stands out most is the value relative to its street. The home ranks in the top 2% for assessed value on Lipton Street, where the average is $250k. That’s not a misprint—this property is nearly double the typical street-level assessment, which suggests it’s either been substantially updated or is an unusually large or well-finished home for its immediate block. The living area also ranks well above the street average (top 13%), reinforcing that this is a standout property on its own street.
At the neighbourhood and city levels, the picture is more balanced. In Wolseley, the assessed value is top 15%, and living area is around average (top 46%). The lot is smaller than typical for the neighbourhood (bottom 23%), and the home is older than the citywide average (built 1914 vs. 1966 city average). The assessed value is solid but not exceptional citywide (top 26%).
This property would suit a buyer who values character and a well-maintained older home in a desirable, walkable neighbourhood like Wolseley, and who is less concerned about having a large lot. It’s a good fit for someone seeking above-average living space and a higher-end finish relative to the immediate street, without paying a premium for a big yard. It may be less suitable for buyers wanting a newer home or a lot suitable for expansion.
Five Possible FAQs
1. How does this home compare to others on Lipton Street specifically?
On its own street, it’s in a class of its own for assessed value (top 2%), and it has more living space than most (top 13%). The lot size is around average, and the year built is slightly newer than the street average. If you want to be the top-value home on your block, this is it.
2. Is a $466k assessed value high for Wolseley?
It's above average. The neighbourhood average for comparable homes is $371k, so this is about 25% higher. That’s a meaningful gap, but not extreme—there are many homes in the $400k+ range in this area. It suggests the home is well above the median for the neighbourhood.
3. The lot is only 2,561 sq ft. Is that a problem?
It depends on your needs. That lot size is smaller than typical for Wolseley (neighbourhood average is 3,434 sq ft) and very small by city standards (citywide average is 6,570 sq ft). If you want a big yard, a garden, or room to build an addition, this may not be the right property. If you want a manageable yard with low maintenance, it could be a plus.
4. The home was built in 1914. What should I expect?
It's older than the city average by about 50 years, but on Lipton Street and in Wolseley, that’s actually a bit newer than the typical home (street and neighbourhood averages are 1919 and 1916, respectively). Older homes often have solid construction, high ceilings, and character details, but they may also require updates to wiring, plumbing, insulation, and windows. A thorough inspection is essential.
5. How does the living space compare citywide?
The 1,640 sq ft is above average for Winnipeg (city average is 1,342 sq ft), ranking in the top 23%. For a 1914 home, that’s generous. It’s not a massive house, but it’s spacious for a character home in an older neighbourhood.