Property Overview: 524 Sherburn Street, Winnipeg

Key Characteristics, Appeal & Ideal Buyer

This home presents a compelling mix of space, value, and established neighbourhood character. Its most standout feature is its generous living area of 1,820 sq ft, which ranks in the top 7% on its street and the top 3% within the broader Minto area. This means you get significantly more interior space than most nearby homes. The assessed value is also above average for the immediate vicinity, suggesting the property is well-regarded in its local context. The lot size is typical for the neighbourhood, offering a standard urban yard.

The appeal lies in this above-average spaciousness within a mature community. It’s a property that offers room to grow or simply more living area than is commonly available in the area, without a corresponding premium in its city-wide assessed value. The trade-off is the home’s age; built in 1913, it is older than most homes in Winnipeg, which implies a need for appreciation of classic charm and potential upkeep or modernization projects.

This home would best suit a buyer who prioritizes interior square footage and established neighbourhoods over a new build. It’s ideal for someone looking for value in space within Minto, who is comfortable with the realities and character of a century-old home. It could be a great fit for a growing family needing room or a buyer who sees potential in updating a solid, spacious structure.

Frequently Asked Questions

1. How does the home’s age impact its value and condition?
Built in 1913, the home is a century property. While this often means charming architectural details, it also requires a diligent inspection for foundational integrity, wiring, plumbing, and insulation to modern standards. Its assessed value remains strong locally, indicating it has been maintained, but future buyers should budget for updates.

2. The living area is large for the area, but the assessed value seems moderate city-wide. Why?
The home’s living area is elite for Minto but only above-average city-wide. Its assessed value is around the city median. This suggests the price per square foot could be very attractive compared to newer areas, but the overall valuation is balanced by factors like its age, specific location, and lot size.

3. What does the lot size mean for outdoor space?
At just over 3,000 sq ft, the lot is standard for the Minto neighbourhood. You can expect a typical backyard for the area, but not an expansive one. This is consistent with the urban, established character of the community.

4. Is the assessed value a reliable indicator of the selling price?
Not directly. The assessed value (shown as $30.30k) is for municipal tax purposes and is typically much lower than market value. Market value is determined by recent sales of comparable homes, buyer demand, and the property's condition. You must request the exact sold price history for relevant data.

5. The home ranks well locally but lower city-wide in some metrics. What’s the takeaway?
This highlights the importance of neighbourhood context. This property is a standout within Minto for space and local value. City-wide rankings, which include vast newer suburbs with larger lots and newer homes, naturally place it lower. The key is whether its strengths align with what you want in an established inner-city community.