Property Overview: 1-510 Sherburn Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home in the Minto neighbourhood presents a distinct profile defined by its contrasts. Its primary appeal lies in its generous 1,647 sqft of living space, which ranks in the top 12% on its street and top 6% within Minto, offering significantly more room than many local comparables. This makes it a standout for buyers seeking space without a modern suburban footprint. The lot size is a standard city dimension, providing typical outdoor space for the area.
However, this space comes within a century-old home (built 1912), reflected in its well-below-average assessed value. This combination suggests a property with solid foundational space but likely requiring updates or modernization. It suits a specific buyer: hands-on homeowners, renovators, or value-seeking investors who see potential in the generous square footage and are prepared to manage the upkeep or improvement of an older character home. Its appeal is pragmatic—prioritizing interior volume and lot location over turn-key condition or high assessment value. For the right person, it represents a canvas to add value in a well-established community.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on factors like age, condition, and recent market activity for similar properties. For this 1912 home, its age and likely need for modernization compared to newer homes city-wide result in a lower assessment, which can mean lower property taxes.
2. How significant is the living area being in the top 6% for Minto?
It's a major advantage. It means this home offers roughly 550 more square feet than the Minto area average, providing rare interior space for the neighbourhood, which could mean extra bedrooms, larger common areas, or more flexible living arrangements.
3. What should I consider with a home built in 1912?
While offering character, a home of this age requires careful attention to foundational elements. A thorough inspection is essential to understand the condition of major systems (plumbing, electrical, heating), the roof, insulation, and the structure itself to budget for any necessary updates or repairs.
4. The sold price history shows a range of $150k-$200k in 2019. What does that indicate?
This public price range is consistent with the home's lower assessed value and age. It provides a historical benchmark, but the current market value will depend on market conditions since 2019, any changes made to the property, and its present condition.
5. Is the lot size a limitation?
At just over 3,000 sqft, the lot is standard for its inner-city street and neighbourhood. It provides a typical backyard space for the area but is below the city-wide average, which includes newer suburban lots. It suits those preferring a lower-maintenance yard close to the city's core.