98 Sherburn Street – Property Summary
Key Characteristics & Buyer Profile
This 1,000-square-foot home, built in 1925, sits on a 3,012-square-foot lot in Winnipeg’s Wolseley neighbourhood. Its main appeal is value relative to street-level pricing. Assessed at $341,000, it ranks in the top 8% on Sherburn Street, where the average assessed value is $266,300. That gap suggests the property is significantly above the local baseline, even though its living area is slightly below the street average (1,162 sqft) and well below the neighbourhood average (1,622 sqft). The lot is also smaller than typical for Winnipeg overall.
The property’s year built is notably older than the citywide average (1966), but it sits within a pocket of older homes—Wolseley’s average build year is 1916, so this home is newer than many nearby. The combination of above-street assessment and below-neighbourhood living area points to land value or finishes playing a role, not just square footage.
This home would suit a buyer who prioritises location and street-level affordability over interior space. It may appeal to someone open to a renovation or addition, given the relatively small footprint and older construction. It’s less suited to buyers seeking a turnkey large family home, or those wanting a big yard. The data suggests you’re paying a premium for being on a block where values are higher than the surrounding area.
Frequently Asked Questions
1. How does the assessed value compare to similar homes in Wolseley?
The home’s $341,000 assessment is around average for Wolseley (median $371,300), ranking in the top 53%. It’s essentially in the middle of the neighbourhood pack, but well above its own street’s average.
2. Is the living area considered small for the area?
Yes. At 1,000 sqft, it’s below the Wolseley average of 1,622 sqft—ranking in the top 90% (meaning 90% of homes in the neighbourhood are larger). It’s more typical for Sherburn Street itself, where the average is 1,162 sqft.
3. How old is the house, and is that typical for Wolseley?
Built in 1925, it’s actually newer than many homes in Wolseley, where the average year built is 1916. Citywide, most homes are much newer (average 1966), so this is an older property by Winnipeg standards.
4. Why is the lot size important to consider?
At 3,012 sqft, the lot is roughly average for Sherburn Street and Wolseley, but significantly smaller than the citywide average of 6,570 sqft. If you’re looking for a large garden or room for an extension, this lot may feel tight compared to what’s common elsewhere in Winnipeg.
5. What does “top 8% on the street” for assessed value actually mean?
It means only 44 out of 537 comparable homes on Sherburn Street have a higher assessed value. This is a strong indicator that the property is considered more valuable than most of its immediate neighbours, likely due to condition, updates, or lot characteristics—not just size.