161 Sherburn Street – Property Summary

Key Characteristics & Buyer Profile

This 1925 Wolseley home offers 896 square feet of living space on a 3,012-square-foot lot, with a current assessed value of $287,000. The property sits below average in size compared to both street and neighbourhood norms—the average home on Sherburn Street is 1,162 square feet, and in Wolseley it’s 1,622 square feet. However, its assessed value ranks in the top 30% on the street, meaning it’s priced higher than many similarly sized neighbours. The home is older than the citywide average (1966) but fits comfortably within the Wolseley character area, where the average home was built in 1916. The lot itself is typical for the street and neighbourhood, though smaller than the citywide norm.

The appeal here lies in value per square foot rather than space. A buyer gets a home that sits on a land-rich street in an established neighbourhood, with an assessed value that punches above its size relative to immediate neighbours. This suggests either recent upgrades, a desirable location within the street, or scarcity of smaller, more affordable entry points in Wolseley. The property would suit first-time buyers, downsizers, or investors looking for a compact home in a walkable, older inner-city area—not someone seeking maximum square footage or a large yard.

Five Possible FAQs

1. How does the assessed value compare to homes of similar size in Wolseley?
On Sherburn Street, this home is above average in value, ranking in the top 30%. But within the broader Wolseley neighbourhood, it ranks in the bottom 20%. That gap suggests it’s a relatively affordable entry point for the area, but priced higher than other small homes on its own street—possibly due to condition or upgrades.

2. Is the lot big enough for an addition or garage?
The lot is 3,012 square feet, which is typical for Sherburn Street but below the Wolseley average of 3,434 square feet. It’s substantially smaller than the citywide average of 6,570 square feet. Possible, but tight. Check zoning and setback rules before planning anything.

3. Why is the yearly built ranking better in Wolseley than on the street?
The home was built in 1925, which is exactly average for Sherburn Street (top 47%). But in Wolseley, where many homes are older (average 1916), a 1925 build ranks in the top 15%—meaning it’s newer than most of the neighbourhood. Citywide, it’s older than average (1966), so it ranks low.

4. What does “comparable homes” mean in these rankings?
The data uses a rough median for homes considered comparable in type and size within each scope—street, neighbourhood, and city. Ranks compare this property to others likely sold or assessed in the same category, not all homes generally.

5. Is this a good investment property?
Depends on goals. The assessed value is strong for the street, but the living area is small. In an expensive neighbourhood like Wolseley, a compact home at this price point could rent well or appreciate as a starter home. But the small lot and older construction mean renovation or expansion costs could eat into returns.