Property Overview: 696 Sherburn Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 696 Sherburn Street in the Minto neighbourhood presents a compelling case for value-focused buyers. Built in 1937, its key appeal lies in its strong relative standing within its immediate area. While its 982 sqft living space is modest by city-wide standards, it is competitively sized for both the street and the Minto area. The lot size of 3,006 sqft is also typical for the locale, offering standard outdoor space.
The most notable characteristic is its assessed value of $29,300, which ranks in the top 26% on Sherburn Street and the top 16% in Minto. This suggests the property is viewed as a higher-value asset within its local market context compared to its neighbours. The home last sold between $250k-$300k in 2020.
This property would suit a first-time homebuyer or an investor looking for an entry point into the Winnipeg market with a home that holds its value well within its community. It’s also a practical choice for those who prioritize location and lot value over extensive square footage, and who are prepared for the maintenance considerations of a home nearing 90 years old. A less obvious perspective is that its higher assessed value on the street could indicate better upkeep or desirable features not captured in the basic metrics, potentially offering a more stable investment in the micro-market of the block.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to the likely market price?
The assessed value ($29,300) is for taxation purposes and is not an indicator of market price. The market price is significantly higher, as reflected in its 2020 sale in the $250k-$300k range. The key takeaway is that this assessment is high relative to neighbouring homes, which can signal stronger municipal valuation.
2. Is the living space too small?
At 982 sqft, the living area is below the Winnipeg city average. However, it is very close to the average for the Minto area (~1,060 sqft) and is a functional size for a small household. Buyers should consider if the layout efficiently uses this space to meet their needs.
3. What are the implications of the home being built in 1937?
A home of this age requires a diligent inspection. While it ranks as newer than many on its street, potential buyers should budget for updates to older mechanical systems (like wiring or plumbing) and consider the character and construction methods of that era, which can be both a charm and a challenge.
4. The sold price history shows a range. How can I find the exact price?
The exact sold price is not publicly displayed in detail due to data sources. You can request the precise historical sale figure by emailing the listing service via the "Get exact sold price history" button. They provide this information manually without using your email for marketing.
5. How does this property truly compare to others nearby?
The data shows it’s a property of contrasts. While its size metrics are average for the local area, its assessed value is consistently above average for both the street and the neighbourhood. This suggests it may offer better finishes, condition, or a more favourable lot than the typical home nearby, making direct comparison with nearby listings on price alone potentially misleading.