Property Overview: 278 Berry Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1913, presents a classic character home opportunity in Winnipeg's King Edward neighbourhood. With 1,066 sqft of living space and a detached garage, its key appeal lies in its solid, average positioning within its immediate area. The home's assessed value and living area are both around the average for Berry Street and the broader King Edward community, suggesting it fits comfortably within the local market context. The lot size of 4,285 sqft is typical for the neighbourhood.
The property suits buyers looking for an entry point into a stable, established area without paying a premium for above-average size or modern updates. It’s a pragmatic choice for those who value neighbourhood character over a new build and are comfortable with a home that has a functional, unrenovated basement. A thoughtful perspective is that its "average" metrics within a desirable area like King Edward can represent a lower-risk investment, as it is less likely to be overpriced compared to its peers. Its recent sale history indicates steady market activity.
Frequently Asked Questions
1. What does the "Top X%" ranking mean for the assessed value?
The rankings compare this home to others. For assessed value, it ranks in the top 33% on its street (meaning its value is higher than 33% of neighbours), but in the top 77% citywide (meaning its value is higher than 77% of Winnipeg homes). This highlights that property values in King Edward are generally stronger than the city average.
2. Is the basement finished?
No, the listing specifies the basement is "not renovated," indicating it is likely in an unfinished or utility state.
3. How does the lot size compare?
At 4,285 sqft, the lot is smaller than most on Berry Street but is around the average size for the King Edward neighbourhood overall, which is typical of older, inner-city communities.
4. What can recent sold prices tell me?
The provided sold price ranges from 2024 and 2017 show the home's value trajectory. Comparing these to the current assessed value of $27.5k can offer insight into market trends and potential value.
5. Why is the citywide average assessed value so much higher?
The citywide average of $390k includes all property types and newer suburban areas. This home's significantly lower assessed value is characteristic of older, compact character homes in established neighbourhoods, reflecting different market segments.