Property Overview: 508 Sherburn Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home on Sherburn Street in the Minto neighbourhood presents a distinct profile centered on space and value within its immediate community. Its primary appeal is its generous 1,690 sqft of living area, which ranks it in the top 10% of homes on its street and the top 5% within Minto. This makes it a notably spacious option compared to nearby houses. The lot size is consistent with the local area at just over 3,000 sqft. Built in 1912, the property is one of the older homes in the area, which may appeal to those interested in character homes, though it implies a need for diligent maintenance and potential updates.
The assessed value is modest and sits above average for both the street and the neighbourhood, yet it is significantly below the city-wide average. This highlights the property’s positioning as a more affordable, spacious option in a specific locale rather than a high-value asset city-wide. The last recorded sale was between $300k-$350k in 2021.
This property would best suit a practical buyer looking for maximum interior space on a budget within a well-established inner-city neighbourhood. It’s ideal for someone who values square footage over modern finishes and is prepared to steward a century-old home. It may also appeal to an investor or homeowner who recognizes value in a community setting where the property stands out for its size relative to its peers.
Section 2: Frequently Asked Questions
1. What does the "Top 5%" ranking for living area in Minto actually mean?
It means that compared to over 2,000 homes in the Minto area, this house has more living space than approximately 95% of them. It is exceptionally spacious for its specific neighbourhood.
2. The home is from 1912. What should I consider?
While offering classic charm, a 114-year-old home requires careful attention to foundational integrity, historical wiring or plumbing updates, and overall maintenance. A thorough, specialized inspection is essential.
3. Why is the city-wide assessed value ranking much lower than the local ranking?
The assessed value is above average for Minto but below the Winnipeg average. This reflects the neighbourhood's overall affordability compared to newer or higher-value districts across the city. The value is concentrated in the living space and location, not in land value or luxury finishes.
4. How reliable is the sold price range shown?
The range is based on publicly available data. For the exact historical sold price, you must request it directly via the provided email service, as this information is not fully disclosed in public records.
5. What is the potential downside of having a much larger house than the neighbourhood average?
While spacious, the home’s value may be more influenced by its immediate area’s market trends than by its size alone. Over-improvement for the area can sometimes limit resale value relative to investment. However, it offers immediate quality of life benefits in terms of space.