Property Overview
This home at 38 Sherwood Place presents a practical opportunity in Winnipeg's Varennes neighborhood. Built in 1924, it's a property defined by its context: it offers solid value within its immediate area while standing out for its generous lot size. The 816 sqft living space is typical for the street and neighborhood, but notably more compact than the Winnipeg city average. Its assessed value follows a similar pattern, positioned as around average for the street but below average for the wider city, suggesting a potentially accessible entry point. The true standout feature is the 6,913 sqft lot, which ranks in the elite tier for the Varennes neighborhood, offering significant outdoor space that is increasingly rare.
Key Characteristics & Appeal
The appeal here is grounded in space and value relative to location. The lot is the star, providing ample room for gardening, recreation, or future expansion in a neighborhood where most properties sit on smaller parcels. This creates a unique proposition: a modestly-sized home on a generously-sized piece of land. The home itself is a classic, older build, typical of its street, likely appealing to those who value character and established communities over modern square footage. It suits first-time buyers or downsizers seeking a manageable home without sacrificing yard space, or value-oriented investors attracted by the below-city-average assessment. It’s a property for someone who sees potential in the land and the neighborhood, rather than in a large, move-in-ready interior.
Frequently Asked Questions
1. Is the below-average living area a concern?
Not necessarily for the right buyer. While the home is cozier than the Winnipeg average, it is squarely in line with the typical size found on Sherwood Place and in Varennes. It reflects the efficient design of its era and may mean lower utility and maintenance costs.
2. What does the "elite" lot ranking actually mean?
It means this property's lot size is in the top 4% of all comparable properties in the Varennes neighborhood. You are getting significantly more land than most of your immediate neighbors, which is a major asset for privacy, outdoor activities, or future property value.
3. The assessed value is below city average. Does that indicate a problem?
No, it primarily reflects the home's more modest size and older age compared to the citywide mix of properties. It often indicates a lower property tax burden, which is a practical advantage. The assessment is consistent with similar homes in the area.
4. As a 1924 home, what should I be mindful of?
Expect the charm and considerations of a century-old home. While the data shows it's an average age for the street, proactive inquiries into the condition of major systems (like plumbing, electrical, and the foundation) and updates over the years will be important. Its established presence is part of the neighborhood's fabric.
5. How does this property fit into the street and neighborhood?
The data shows it's a very typical home for Sherwood Place in terms of size, age, and value. Its standout lot size is the differentiating factor. You'd be buying into a consistent, established streetscape where this property holds its own and offers one exceptional feature.