125 Sherburn Street – Property Summary

Key Characteristics & Buyer Profile

This is a 1925 home in Wolseley with 892 sqft of living space on a 3,012 sqft lot. Its most striking feature is the assessed value: $378,000 ranks in the top 5% on Sherburn Street, where the average assessment is $266,300. That gap is significant. The property is not large by any measure—its living area is below average at every level (street, neighbourhood, city)—and the lot sits close to the street average but below the Wolseley norm. The year built is typical for the street but older than most homes citywide.

The appeal here isn’t space or a sprawling yard. It’s the combination of an older, character-oriented neighbourhood with a price point that reflects high local demand relative to the physical footprint. For a buyer, this could mean paying a premium for location and street appeal rather than square footage. It would suit someone who values being in Wolseley—close to the river, mature trees, walkable streets—over having a large interior or a big lot. First-time buyers who want a foothold in a desirable area, or downsizers who no longer need space but want a strong asset in a stable market, would likely find this property relevant. It may also appeal to buyers who see the high relative assessment as a sign of long-term value retention, even if the home itself needs updates.

Frequently Asked Questions

1. Why is the assessed value so much higher than the street average, when the house is physically small?
Assessed value reflects market conditions, not just size. On Sherburn Street, smaller or older homes may have lower values, so this property stands out. It could be due to renovations, lot characteristics, or simply strong demand for this specific location relative to others on the block. The citywide and neighbourhood averages are closer to this home’s value, suggesting it aligns more with broader market trends than with its immediate street.

2. Is the lot size a disadvantage for this property?
At 3,012 sqft, it’s typical for Sherburn Street but smaller than the Wolseley average (3,434 sqft). Citywide, lots in Winnipeg average 6,570 sqft, so this is well below that. If you’re used to suburban lot sizes, it will feel tight. But in an older neighbourhood like Wolseley, smaller lots are normal and often come with less maintenance and more established landscaping.

3. How does the age of the home affect maintenance or renovations?
Built in 1925, the home is older than 85% of properties citywide, but typical for Wolseley. Older homes in this area often have solid construction but may need updates to wiring, plumbing, insulation, or windows. The assessment doesn’t tell you about condition, only value. A home inspection would be essential to understand what’s original and what’s been updated.

4. What does “top 5% on the street” for assessed value actually mean for resale?
It means this property is already priced higher than nearly all comparable homes on Sherburn Street. That can be a double-edged sword: you’re buying into a premium position, but future appreciation may depend more on the street’s overall trajectory than on the home itself. If the street rises, you gain; if it stagnates, you may have less room to increase price.

5. Is this property a good fit for an investor or a flipper?
It depends on the current condition and the purchase price relative to the assessment. The high assessed value relative to the street suggests potential equity if the home is under-priced. But the small living area and lot size limit the upside for a flip that relies on adding square footage. For a rental, the location in Wolseley could attract tenants, though the relatively small space may limit rental income compared to larger homes in the same neighbourhood.