In this study, structural thin-layer sandwich walls (SWs) made of steel-fibre-reinforced concrete (SFRC) without conventional reinforcements were investigated. Other researchers have shown that SWs with thin wythes can be used as load bearing structures in low-rise buildings, thereby reducing the amount of concrete by 2–5 times if compared to conventional reinforced-concrete SWs. In most studies, relatively warm climatic regions are the focus, and thin-layer SWs with shear connectors to obtain a certain level of composite action are investigated. In almost no studies has sound insulation been evaluated. In this study, a numerical investigation of structural, thermal and sound insulation performances was carried out. The load-bearing capacities of composite and non-composite SWs are compared. Regions with the lowest five-day mean air temperature of −20 ∘C were considered. The characteristics of the SW are compared to the requirements given in relevant European and Latvian standards. The minimum thermal insulation for family houses varies from 120 mm to 200 mm, depending on the material. To ensure sufficient sound insulation, the average thickness of the concrete wythes should be around 60 mm, preferably with a 15 mm difference between them. Structural analysis of the proposed wall panel was performed using non-linear finite element analysis software ATENA Science. The obtained load-bearing capacity exceeded the design loads of a single-story family house by around 100 times, regardless of the degree of composite action.