40 Berrydale Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 728 sqft home built in 1945 on a 7,699 sqft lot, with an assessed value of $293,000. The most notable feature is the land: citywide, the lot ranks in the top 12% for size, well above the typical 6,570 sqft. That’s the standout asset here—the house itself is modest, and both its living area and age sit below average compared to the neighbourhood and the city. The assessed value lands around the middle of the pack locally, which suggests the price isn't overreaching for what's there.
The appeal is less about the home's current condition or layout and more about the property's potential. A larger lot in a city where land is at a premium offers room for expansion, redevelopment, or simply having outdoor space that newer infill builds lack. For the right buyer—someone willing to renovate, build new, or value yard space over square footage indoors—this could be a solid entry point. It would suit first-time buyers looking for a project, downsizers wanting a manageable house with a generous yard, or investors eyeing future subdivision potential (subject to zoning). It’s not a turnkey home for someone wanting modern finishes and ample living space without work.
Five Frequently Asked Questions
1. How does the living area compare to other homes, and will it feel small?
At 728 sqft, it’s below the average on the street (1,067 sqft) and well below the citywide average (1,342 sqft). It’s a compact footprint, typical of 1940s bungalows. You’re not getting open-concept space, but the layout may feel more functional than the number suggests if it’s well-kept. Anyone needing space for a large family or home office should look elsewhere.
2. Is the assessed value a realistic reflection of market price?
The assessed value of $293,000 sits around the average for the street ($300k) and just below the neighbourhood average ($315k). Assessment isn’t the same as market value, but it indicates the property isn’t wildly overpriced relative to its immediate surroundings. That said, if the lot holds redevelopment value, the actual sale price may exceed assessment—especially if comparable land sales in the area are higher.
3. What’s the land actually worth, and is it usable?
The lot is nearly 7,700 sqft, which puts it in the top 12% citywide. For perspective, most comparable homes in Winnipeg sit on lots around 6,570 sqft. The land is larger than typical, but whether it’s usable depends on shape, zoning, and any easements. It’s worth checking if the lot is flat or sloped, and whether local bylaws allow secondary suites or subdivision. The size alone doesn’t guarantee development potential, but it’s a starting point.
4. Why is the year built a concern, and what should I look for?
Built in 1945, the home is older than 78% of comparable properties citywide, and the neighbourhood average is 1962. Age brings potential issues with outdated electrical, plumbing, foundation, and insulation. A thorough home inspection is non-negotiable. Some buyers see older construction as desirable for quality materials, but be prepared for possible system replacements rather than cosmetic updates only.
5. How does this property rank against others nearby, and why does that matter?
On the street level, it’s below average in living area and land size but around average in assessed value and year built. In the neighbourhood, it ranks lower in age and living area, but land and value are close to the median. Citywide, the land is a strong point. The takeaway: you’re buying a lot with a house on it, not a house with a lot. Neighbourhood comparisons show the home itself isn’t keeping pace with newer builds, but the land separates it from the pack.