Property Overview: 231 Thomas Berry Street, Central St. Boniface
Key Characteristics & Appeal
This is a compact, one-storey home built in 1908 on a standard city lot in Central St. Boniface. Its key features include a renovated basement and a detached garage. The data reveals a property that stands apart in several ways. While its living space (768 sq ft) is notably smaller than most comparable homes in the area, it sits on a decently sized lot that is actually above average for its immediate street. This presents a classic value proposition: a modest, historic home with land potential.
The primary appeal lies in its position as an entry point into a mature neighbourhood. With a historically low sale price and an assessed value significantly below city averages, it represents a clear opportunity for buyers with a vision. It would suit a practical first-time buyer, an investor looking for a hold-and-renovate property, or someone seeking a lower-cost footprint in a central location with the possibility of future expansion or lot utilization. The renovated basement adds functional living space, which is a crucial upgrade for a home of this size. A thoughtful perspective is that this property’s value is less about its current structure and more about its underlying land and location within a well-established community, offering a chance to build equity through modernization or strategic improvements.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's relatively small living area and older age compared to the broader Winnipeg market. It is more in line with values on its specific street and within Central St. Boniface.
2. Is the house in livable condition, given the year it was built?
The listing notes a renovated basement, which suggests some updates have been made. However, a 1908-built home will likely require a thorough inspection to understand the condition of major systems like wiring, plumbing, and the foundation.
3. What does the lot size mean for potential expansion or additions?
At 3,127 sq ft, the lot is larger than many on Thomas Berry Street itself. This could provide room for a garden, outdoor living space, or, subject to zoning and permits, a future addition to increase the living area.
4. How does the recent sale price compare to the assessment?
The home sold for $18,500 in late 2017, which was below its assessed value at that time as well. This history indicates it has been positioned as a value-oriented property in the market.
5. What is the neighbourhood like, and what are nearby properties like?
The home is in Central St. Boniface, a long-established neighbourhood. Nearby properties on Thomas Berry Street are of similar vintage, creating consistent streetscape character. The presence of a detached garage, while not uncommon, is a practical asset in this urban setting.