255 Sherman Street – Property Summary
Key Characteristics & Buyer Profile
This is a 928-square-foot home built in 1903 on a 2,340-square-foot lot in Winnipeg’s West Alexander neighbourhood. Its assessed value is $159,000.
What stands out here is the land-to-living-area ratio. The lot ranks in the top 29% on the street, meaning the property offers more outdoor space than most nearby homes—unusual for this part of the city. The house itself is smaller than the street average (1,059 sqft), and the neighbourhood average (1,299 sqft), and significantly smaller than the citywide average (1,342 sqft). The year built (1903) places it among the older homes on the street and in the neighbourhood, but it’s important to note that West Alexander has a higher concentration of pre-war housing, so the age is less of an outlier than the citywide ranking suggests.
The assessed value ($159k) sits slightly above the street average ($134.1k) and well below the neighbourhood ($187.3k) and city ($390.1k) averages. This suggests the property is priced competitively for its immediate context, even though it’s not a bargain relative to the broader market. The lower living area and older construction likely cap the value, while the relatively generous lot gives it future potential.
This property suits a buyer who values outdoor space over interior square footage—someone who might consider an addition, a laneway suite, or simply a larger yard for gardening, storage, or parking. It’s less suited for someone seeking move-in-ready space or a modern floor plan. It could also appeal to an investor or first-time buyer looking for an entry point into a centrally located neighbourhood, provided they’re comfortable with a home that will likely require updates.
Frequently Asked Questions
1. How does this home’s value compare to others nearby?
It’s priced above average for Sherman Street (top 35%), but below average for West Alexander overall and well below the citywide median. The assessed value reflects the smaller living area, older construction, and relatively small lot by neighbourhood standards—even though the lot is generous for the street.
2. Is the small living area a problem?
It depends on your needs. At 928 sqft, it’s smaller than most similar homes on the street, in the neighbourhood, and citywide. But for a single person or couple who prioritizes outdoor space, location, or the potential to expand, it may be a feature rather than a flaw.
3. How old is the house, and what does that mean practically?
Built in 1903, it’s one of the older homes on Sherman Street (ranked 16th out of 17) and in West Alexander. Older homes often have solid bones, but buyers should budget for updates to electrical, plumbing, insulation, and possibly the foundation. A pre-purchase inspection is strongly recommended.
4. What’s the neighbourhood like?
West Alexander is an older, centrally located Winnipeg neighbourhood with a mix of early 20th-century housing. It’s walkable and close to downtown amenities, but the housing stock tends to be modest and some streets have inconsistent upkeep. The lot size here (2,340 sqft) is small by neighbourhood standards but large for the immediate street.
5. Could I add onto this house or build something else?
The 2,340 sqft lot is above average for the street, which could support a small addition, a detached garage, or a secondary dwelling—subject to zoning and permits. But it’s still a compact lot by West Alexander norms, so any expansion would need to be carefully planned. Buyers should check with the city before making assumptions.