Property Overview & Appeal
367 Berry Street is a modern, two-year-old bi-level home in Winnipeg's King Edward neighbourhood. Its primary appeal lies in being a nearly new construction, offering move-in readiness without the concerns of an older home. At just over 1,000 square feet with a renovated basement, it provides efficient, modern living space. The home stands out for its exceptionally high assessed value relative to its immediate area and neighbourhood, suggesting quality finishes or desirable modern features not reflected in the square footage alone.
This property is ideally suited for first-time buyers, downsizers, or investors seeking a low-maintenance, modern home without a premium "new build" price tag. Its smaller lot size means less yard work, which can be a practical benefit for busy professionals or those not wanting extensive outdoor upkeep. A thoughtful perspective is that this home represents a balance: you acquire a contemporary property while integrating into the established, mature fabric of the King Edward community.
Frequently Asked Questions
1. Why is the assessed value so high compared to nearby homes?
The assessed value ranks in the top 3% for both the street and the broader King Edward area. This is primarily due to the home being built in 2024, as newer constructions with modern systems and finishes are assessed significantly higher than the neighbourhood's older housing stock, which averages homes built in the 1940s.
2. What does the "bi-level" design mean for daily living?
A bi-level typically features a main living area (kitchen, living room) accessed directly from the ground, with bedrooms on a lower level. This design offers good separation of space. The listing confirms the basement level is renovated, effectively adding to the usable living area.
3. Is the smaller lot size a disadvantage?
At approximately 3,400 square feet, the lot is smaller than many in the city. On Berry Street itself, it ranks in the bottom 10% for land area. This means less private outdoor space but also translates to minimal yard maintenance. For the right buyer, this is a practical trade-off for a newer home in an established area.
4. How does the recent sale price compare to the assessment?
The home sold in February 2025 for an estimated $47,500-$50,500. This sale price is close to its current assessed value of $42,600, indicating the assessment is relatively aligned with recent market activity.
5. What is the King Edward neighbourhood like?
King Edward is a long-established, central Winnipeg neighbourhood. The area features a mix of older character homes and newer infill developments like this one. The data shows home sizes and values here are generally more modest than the city-wide average, offering a more affordable entry point into a mature community.