Property Overview: 679 Sherburn Street, Winnipeg
Key Characteristics & Appeal
This home at 679 Sherburn Street in the Minto neighbourhood presents a practical opportunity centered on value and location. Built in 1902, it is notably older than most homes in the city, which suggests potential for character but also underscores the importance of a thorough inspection for maintenance and updates. With 1,148 sqft of living space, it offers a comfortably sized layout that is quite typical for its immediate area and neighbourhood, making it a standard offering without being cramped.
The primary appeal lies in its financial profile. The assessed value is modest and aligns with averages for Minto and Sherburn Street, yet it sits significantly below the wider Winnipeg average. This indicates a lower property tax burden and represents an accessible entry point into the market. The lot, while smaller than many city-wide, is reasonably sized for the area. This combination positions the property not as a standout luxury home, but as a grounded, pragmatic choice. It would suit first-time buyers or investors looking for a straightforward, lower-cost holding in a central neighbourhood, particularly those who are budget-conscious and prepared to handle the care an older home may require.
Frequently Asked Questions
1. What does the "below average" year built ranking mean for me?
It confirms the home is among the oldest 1% in its comparison groups. While it may have heritage charm, it prioritizes the need for a detailed inspection focusing on foundational integrity, plumbing, electrical systems, and energy efficiency, as updates are likely needed.
2. The assessed value is much lower than the city average. Is that good?
Yes, primarily. A lower assessed value generally translates to lower annual property taxes, which is a positive for ongoing affordability. It reflects the home’s age, condition, and local market values rather than its potential sale price.
3. How usable is the land area?
At 2,824 sqft, the lot is functional for a city home—adequate for a small garden, patio, or parking. It’s not suited for extensive additions or sprawling outdoor spaces but is consistent with the neighbourhood’s density.
4. The home last sold between $150k-$200k in 2017. What does that indicate?
This historical price, combined with the current low assessed value, highlights the property's position in the more affordable segment of the market. It suggests the area may offer stability rather than rapid, high-end appreciation, appealing to buyers seeking fundamentals over speculation.
5. Who would this property not be a good fit for?
It’s likely not ideal for buyers seeking a modern, move-in-ready home without renovation projects, or for those prioritizing large lot sizes and new construction amenities. It best suits those with a realistic budget and an understanding of older home maintenance.