88 Chestnut Street – Property Summary
Key Characteristics & Buyer Profile
This is a 1907-built home in Winnipeg’s Wolseley neighbourhood, with 1,796 sq. ft. of living space on a 3,110 sq. ft. lot. Its appeal lies in having a notably large interior for the area—ranking in the top 17% citywide for living area, while the lot size is modest by city standards (bottom 14%) but close to typical for the street and neighbourhood. The assessed value of $343k sits slightly below local averages, reflecting an older home that hasn’t been pushed up by recent renovations or rapid appreciation. The construction year places it among the older homes in the city (top 96% oldest) and even within Wolseley, which already skews historic. This property suits buyers who value pre-war character and generous interior space over a large yard or a move-in-ready finish. It would work well for someone willing to update gradually—the bones and space are there, but the valuation suggests the cosmetic or mechanical work hasn’t been fully done yet. It’s less ideal for those seeking a low-maintenance newer build or a large garden.
Five Possible FAQs
1. How does the lot size compare to other homes in Wolseley?
The lot is 3,110 sq. ft., which is slightly below the neighbourhood average of 3,434 sq. ft., but very close to the typical size for homes on Chestnut Street (average 3,167 sq. ft.). Citywide, it’s on the small side—only about 14% of homes have less land. If you’re used to newer suburban lots, this will feel compact.
2. Is the assessed value low because the home needs work?
Partially. The $343k assessment is below the street, neighbourhood, and city averages, which often signals that the home hasn’t had major recent updates or additions that would raise its taxable value. Older homes in good condition with renovations typically assess higher. That doesn’t mean it’s in bad shape—just that the market and assessors haven’t priced in a premium for upgrades.
3. How old is this home relative to others in the area?
It was built in 1907. On Chestnut Street, that’s a bit older than the street average of 1913. In Wolseley, it’s notably older than the neighbourhood average of 1916, and citywide it’s in the oldest 4% of homes. If you value early 20th-century craftsmanship, this is a strong candidate; if you’re worried about aging infrastructure, a thorough inspection is essential.
4. What kind of living area does this home offer compared to similar properties?
At 1,796 sq. ft., it’s right around the average for Chestnut Street (1,810 sq. ft.) and slightly above the Wolseley average (1,622 sq. ft.). Citywide, it’s in the top 17% for living space among comparable homes, so you’re getting more indoor room than most homes in Winnipeg offer, relative to its price point.
5. What does “top 17%” for living area actually mean in practical terms?
It means that if you lined up all comparable homes in Winnipeg, roughly 83% have less living space than this one. For a house built in 1907, that’s unusual—many older homes of that era are smaller. It suggests this property may have had an addition or was originally built larger than typical for the period. You’re paying for square footage, not land.