Property Overview: 321 Berry Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1918, situated on a decent-sized lot in the King Edward neighbourhood. Its key characteristic is its modest scale, with a living area of 684 sqft that is notably smaller than most comparable homes locally and city-wide. The basement exists but is unrenovated, and the property has no garage or pool.
The primary appeal lies in its affordability and lot potential. With an assessed value significantly below the city average, it represents a lower barrier to entry into the Winnipeg market. The nearly 4,553 sqft lot offers valuable outdoor space and future potential that the current home's footprint does not utilize fully. It suits a specific type of buyer: those seeking a starter home or a land-value opportunity who are comfortable with a project. It would appeal to a hands-on buyer looking to renovate and expand over time, or to an investor considering the value of the land relative to the existing structure. A less obvious perspective is that its smaller interior and simpler layout could be a perfect fit for minimalist living or a strategic rental property, minimizing maintenance and upgrade costs in the short term.
Frequently Asked Questions
1. Is this a "tear-down" property?
Not necessarily. While the home is smaller and older, its assessed value and sold history suggest it is currently a functional dwelling. Its potential is likely a combination of livability-as-is and future renovation or expansion, making it what some might call a "lot-value" property.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's specific attributes: a very small, older home on a standard city lot. Assessments are based on market value for the property as it currently exists, not its potential after renovation.
3. What are the implications of the unrenovated basement?
This indicates the lower level is in original or utility condition. It will be functional for mechanical systems and storage, but any finished living space would require a significant investment and proper permits, especially considering the home's age and potential moisture considerations.
4. How does the lack of a garage affect daily living and value?
In Winnipeg, off-street parking and storage are significant conveniences. The lack of a garage means reliance on street parking and finding alternative storage solutions, which is a practical consideration for most buyers and is factored into the property's value.
5. The sold price history shows a range. What does that mean?
The listed range is an estimate based on public data. To obtain the exact historical sale price for informed decision-making, you must request it directly from the provided service. This is a common practice to ensure accuracy and verify the data being used for comparisons.