257 Sherman Street

257 Sherman Street – Property Summary

Key Characteristics & Buyer Profile

This is a 1,044-square-foot home built in 1905, on a 2,340-square-foot lot in Winnipeg’s West Alexander neighbourhood. Its assessed value is $124,000.

Where this property stands out is its land size relative to others on the same street (top 29%), and its assessed value is essentially average for Sherman Street (top 47%). But compared to the wider neighbourhood and city, it’s a different story. The assessed value falls well below the West Alexander average, and the lot is significantly smaller than most homes in the area. The same goes for the citywide picture: this is a modest footprint on a compact lot, in one of Winnipeg’s older housing stock areas.

The appeal here is pragmatic. This isn’t a “move-in ready” showpiece or a large family home. It’s a property with character age, a manageable size, and a price point that sits well below both neighbourhood and city medians. It would suit a buyer who values affordability over space, is comfortable with an older home (1905 construction comes with quirks and maintenance realities), and isn’t looking for a big yard. First-time buyers with a realistic budget, investors seeking a lower-cost entry into the West Alexander market, or someone looking to renovate a smaller older home in a central neighbourhood could all find this a sensible fit.

Five Possible FAQs

1. How does this home’s assessed value compare to others nearby?
On its own street, it’s close to average. But in West Alexander and across Winnipeg, it's well below typical values—ranked in the bottom 18% of the neighbourhood and bottom 1% citywide. That means it’s priced substantially lower than most comparable homes in the broader area.

2. What does a 1905 year of construction mean practically?
It’s older than average for the street and neighbourhood, and much older than most city homes. Expect things like plaster walls, possible knob-and-tube wiring, an older foundation, and less modern insulation. A thorough home inspection is worth the investment. The upside is character details and solid older framing if well maintained.

3. Is the lot big enough for additions or a garage?
The lot is 2,340 square feet—smaller than most in the neighbourhood and city. On the street itself, it’s above average. You likely have room for a small detached garage or a modest addition, but anything substantial would be tight. Check local zoning before planning.

4. How does the living area compare to other homes?
At 1,044 square feet, it’s essentially average for Sherman Street, slightly below average for West Alexander, and below the citywide median. It’s a compact, functional space—fine for one or two people, but would feel tight for a larger household.

5. Is this a good property for an investment or renovation?
The low assessed value relative to the neighbourhood suggests potential upside if you can add value through renovation. But the smaller lot and older bones limit what’s possible. It’s not a high-margin flip candidate, but could work as a rental with modest improvements or as a budget-friendly starter home.