240 Sherburn Street – Property Summary

1. Key Characteristics & Ideal Buyer Profile

This 1928 home in Wolseley stands out most for its land and assessed value relative to the street. On Sherburn Street, it ranks in the top 4% for both land area (4,340 sqft) and assessed value ($398K), meaning it sits on a notably larger lot than its direct neighbours and carries a higher valuation. The living area (1,560 sqft) is also above average for the street (top 17%), though roughly in line with the wider Wolseley neighbourhood.

What’s less obvious is the disconnect between street-level prestige and citywide norms. While the lot is generous for Sherburn Street, it’s only average-sized citywide (top 69%), and the 1928 build date is older than most Winnipeg homes (top 83%). This property’s appeal is tightly local: it offers standout space and value within its immediate context, not against the broader market.

The property would suit a buyer who values character and yard space in an established neighbourhood over a newer, maintenance-free home. Given the above-average assessed value but modest living area per sqft, the premium here is likely tied to the lot and location. It’s a strong fit for someone planning to renovate or expand, or for a family who wants a larger garden in an area known for mature trees and walkability.

2. Five Possible FAQs

Q: How does the assessed value compare to similar homes on the street?
The assessed value of $398K is well above the Sherburn Street average of $266K, ranking it in the top 4% of the street. It’s also above the Wolseley neighbourhood average ($371K) but roughly on par with the citywide average for comparable homes ($390K).

Q: Is the living space small for a 1920s home?
At 1,560 sqft, the living area is above average for Sherburn Street (top 17%) and for the city overall (top 27%), but slightly below the Wolseley neighbourhood average of 1,622 sqft. It’s a comfortable size, but not oversized for the area.

Q: Why is the year built considered “below average” citywide?
Homes built in 1928 are older than the vast majority of Winnipeg properties—top 83% citywide means only 17% are older. This matters for insurance, maintenance, and potential historic designation considerations, though many older Wolseley homes are well-maintained.

Q: How much does the lot size affect the property’s value?
Significantly. The 4,340 sqft lot is in the top 4% on the street and top 11% in the neighbourhood. Larger lots in established areas like Wolseley are increasingly rare, which likely contributes to the higher assessed value. Citywide, however, the lot is only average, reflecting larger suburban parcels.

Q: What’s the “neighbourhood analysis map” actually show?
It plots this home alongside nearby properties on a map, allowing direct comparison of year built, living area, assessed value, and lot size. That’s useful for seeing how the above-average land and value rank against similar homes within a few blocks, rather than just street or city averages.