Property Overview
253 Berry Street is a compact, one-storey home built in 1912, situated on a generously sized lot in Winnipeg's King Edward neighbourhood. Its key appeal lies in the combination of a renovated basement and a detached garage, offering functional space beyond its modest 640 sqft main floor. The assessed value is notably lower than the citywide average, positioning it as an accessible entry point into the market.
Key Characteristics & Ideal Buyer
This home is defined by its contrasts. While the living area is significantly smaller than most homes locally and citywide, the land area of over 5,200 sqft is well above average for the King Edward area. This presents a classic "value in the land" scenario. The appeal is for the practical-minded buyer who sees potential beyond the existing structure: a starter home investor, a hands-on owner planning future expansions, or someone seeking lower property taxes relative to lot size. Its renovated basement adds immediate livable space, making it functional despite the smaller main floor. It suits a buyer comfortable with the character and maintenance considerations of a 114-year-old home, who prioritizes lot size and location over square footage, and views the current assessed value as a foundation for building equity.
Frequently Asked Questions
1. Why is the living area so much smaller than the average home?
As a one-storey home built in 1912, its layout reflects older design norms. The square footage is primarily contained on the main floor, with the renovated basement providing additional functional space.
2. The last sold price seems very low. What does that mean?
The listed sale from 2017 appears to be for a fraction of the current assessed value. This typically indicates a prior sale of a partial interest (e.g., a land title transfer between family members) and does not reflect a recent full-market arm's length transaction. The current assessed value of $230k is the relevant market benchmark.
3. What are the advantages of such a large lot for a small house?
The above-average lot size for the area offers valuable outdoor space, room for gardening, parking, or storage. It also provides long-term potential for additions, a laneway suite (subject to zoning), or simply holds value as a scarce commodity in an established neighbourhood.
4. How does the assessed value compare to nearby homes?
At $230k, the home's assessed value is around the average for Berry Street and the King Edward neighbourhood. However, it sits below the Winnipeg citywide average, which can be an advantage for property tax calculations.
5. What should I consider with a home of this age?
While the basement has been renovated, a 1912 home will have an older core structure, plumbing, and electrical systems. A thorough inspection is essential to understand the condition of the original building components and plan for future maintenance or updates.