71 Sherburn Street – Property Summary

Key Characteristics & Ideal Buyer Profile

This 1927 home in Wolseley offers 1,082 square feet of living space on a 3,012-square-foot lot. Its standout feature is assessed value: at $359,000, it ranks in the top 6% on Sherburn Street and sits well above the street’s average of $266,300. That high valuation relative to its size suggests the property’s value is driven more by location and character than square footage alone. The living area is slightly below the Wolseley neighborhood average (1,622 sqft), but the home’s age—built in 1927, older than most citywide stock—places it among the earlier homes in the area, which often appeals to buyers seeking pre-war craftsmanship or established tree-lined streets.

The land area is modest by Winnipeg standards (citywide average is over 6,500 sqft), aligning with the tighter lots typical of older, inner-city neighborhoods. This property would best suit a buyer who prioritizes a walkable, historic neighbourhood and strong assessed value over a large house or yard. It may also appeal to renovators or those comfortable with a smaller footprint in exchange for a prime location—Wolseley is known for its mature canopy, proximity to the river, and community feel. The combination of above-street-level value but average-to-below-average citywide rankings in size and lot means this is a niche home, not a one-size-fits-all.

Five Frequently Asked Questions

1. How does the assessed value compare to the asking price?
The current assessed value is $359,000. Since assessment data reflects market conditions at a specific point in time, it's worth checking whether the asking price aligns closely with this figure or deviates. Assessed value is a starting point, not a guarantee of market price.

2. Is the living area measurement accurate for a 1927 home?
The 1,082 sqft figure likely reflects the main finished floors. Older homes sometimes have unfinished basements, enclosed porches, or attics that aren't counted. It's worth confirming whether any recent renovations have added conditioned space.

3. Why is the assessed value high relative to the home's size?
Value in older neighbourhoods often hinges on lot location, street appeal, and the character of the housing stock rather than pure square footage. Being in the top 6% on Sherburn Street suggests the home is in a desirable pocket of Wolseley, possibly with curb appeal or updates that comparably sized homes lack.

4. How does a 1927 build affect maintenance expectations?
Homes of this vintage typically have solid framing and often original fixtures or materials, but they may also have older electrical, plumbing, or insulation. Buyers should budget for potential upgrades to systems, even if cosmetics are updated. Age itself isn't a red flag, but a thorough inspection is recommended.

5. Is the lot size typical for Wolseley?
Yes—the 3,012 sqft lot is in line with the neighbourhood average of 3,434 sqft. Citywide, lots are much larger, but that’s driven by newer suburban subdivisions. The lot is small by broad standards, but standard for this area. If garden space or a garage footprint matters, it's worth checking the actual buildable area.