Property Overview: 596 Sherburn Street, Winnipeg

Key Characteristics & Appeal

This home presents a compelling mix of space, location, and value within Winnipeg's Minto neighborhood. Its standout feature is its generous living area of 1,977 sq ft, which ranks in the top 3% of homes on Sherburn Street and the top 2% within Minto. This offers significantly more interior space than most comparable local properties. The lot size of 3,107 sq ft is also above average for the immediate street, providing good outdoor space.

Built in 1913, the property is a classic century-old home, which suggests potential for character and established landscaping, but also implies a need for diligent maintenance and potential updates. The assessed value is consistent with local averages, but interestingly, its most recent sold price range (2024: $300k-$350k) placed it in a higher percentile, indicating market recognition that may outpace the official assessment.

This property would suit buyers looking for a spacious interior in a mature neighborhood without a premium price tag. It’s ideal for those who value room to grow over a modern build, and for owner-occupants or investors who understand the considerations and potential of a well-located, older home. It may be less suited for those seeking a move-in-ready new build or a sprawling suburban-sized lot.

Frequently Asked Questions

1. How does the sold price compare to the assessed value?
The home sold for an estimated $300,000-$350,000 in 2024, which placed it in a higher market percentile (top 13% on its street) than its current assessed value of $24,500 (which ranks around average locally). This suggests the market valued it above its official assessment at that time.

2. What does the "Elite" ranking for living area mean?
It means the home's interior square footage is among the very largest when compared to similar homes on its street, in the Minto area, and across Winnipeg. With 1,977 sq ft, it offers substantially more space than the local averages, which are around 1,060-1,162 sq ft.

3. Are there any concerns with a home built in 1913?
A 113-year-old home will likely require thoughtful upkeep. Prospective buyers should prioritize a thorough inspection to assess the condition of foundational elements, plumbing, electrical systems, and the roof. While it offers character, budget should be allocated for ongoing maintenance and potential renovations.

4. How does the lot size compare to the rest of the city?
At 3,107 sq ft, the lot is above average for Sherburn Street but below the Winnipeg city-wide average of 6,570 sq ft. This means you have a very decent-sized yard for the inner-city neighborhood, though it is not an exceptionally large suburban-style lot.

5. Why is the assessed value percentile much lower city-wide?
The assessed value ranks in the 84th percentile city-wide (meaning it's lower than 84% of Winnipeg homes), primarily because average assessed values across the entire, larger city include many newer and higher-valued suburban properties. This highlights the home's position as an affordable, spacious option within its specific and more established neighborhood context.