Property Overview: 521 Sherburn Street, Winnipeg
Key Characteristics & Appeal
This home, built in 1912, presents a classic character property with practical advantages in Winnipeg's Minto neighbourhood. Its primary appeal lies in offering above-average interior space for its immediate area. With 1,294 sqft of living area, it ranks within the top 30% on its street and top 19% in the Minto area, making it a notably roomier option compared to many nearby homes. The lot size of 2,829 sqft is consistent with the local standard.
The home suits buyers looking for a established property with a sense of solidity and more interior square footage than is typical for the zone. Its assessed value is modest relative to the wider city, which can be attractive for budget-conscious buyers, but it also indicates an older home that may require updates. A thoughtful perspective is that this property represents a trade-off: you gain space and neighbourhood value within Minto, but take on the inherent maintenance and potential renovation needs of a 114-year-old structure. The sale in 2023 within the $350k-$400k range suggests it is a actively traded, viable entry point into the market.
Frequently Asked Questions
1. How does the home’s age impact its value and condition?
Built in 1912, it is older than most homes on its street and in the city. This often means character and solid construction, but potential buyers should budget for updates to older mechanical systems, windows, or insulation, and prioritize a thorough inspection.
2. Is the living space efficiently laid out?
While the living area is generous for Minto, the layout in a home of this era may differ from modern open-concept designs. Considering how the space is divided into rooms will be key to determining if it suits your lifestyle.
3. Why is the assessed value much lower than the recent sale price?
The assessed value (for tax purposes) is $27,400, which is not a market valuation. The 2023 sale price of $350k-$400k reflects the actual market value, which is influenced by factors like interior condition, updates, and market demand that aren't fully captured in the tax assessment.
4. What does the lot size allow for?
At just under 3,000 sqft, the lot is standard for the inner-city neighbourhood. It provides space for a backyard garden or patio but is not large enough for significant expansions like a major addition or a separate garage, depending on zoning.
5. How does this property compare to others in Winnipeg overall?
The data shows a clear neighbourhood value. While its living space is around the city-wide average, its assessed value is in the bottom 77% city-wide. This highlights that you are paying primarily for location and space within the established Minto community, not for a large lot or a newer home compared to suburban areas.