Property Overview: 754 Berkley Street
Key Characteristics & Appeal
This well-situated one-storey home at 754 Berkley Street presents a practical opportunity in Winnipeg's Betsworth neighbourhood. Its primary appeal lies in a combination of generous outdoor space and a recently renovated basement, offering immediate livability and potential for personalization. The lot is a significant asset, ranking within the top 18% on the street for size at over 6,350 square feet, providing ample room for gardening, play, or expansion.
The home suits first-time buyers or downsizers looking for a manageable single-level layout with a move-in-ready basement suite or recreational space. Its assessed value is notably higher than its last sale price in 2017, suggesting recognized appreciation. A thoughtful perspective for buyers is the balance it strikes: while the living area is modest, the property ranks highly for its lot size within the wider city, indicating the land itself holds substantial value. It’s a property where the appeal is as much in the usable ground it sits on as in the dwelling itself.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property against others on the same street, in the neighbourhood, and across Winnipeg. For example, its lot size ranks in the top 75% city-wide, meaning it's larger than most Winnipeg lots. Conversely, its last sale price was in the bottom 5% on its street for that time, indicating it was a notably good value when last purchased.
2. Is the basement a legal suite?
The listing notes a renovated basement but does not specify if it is a legal secondary suite. This is a crucial point to verify with the listing agent and the city, as it impacts rental potential, insurance, and value.
3. What is the significance of the garage being listed as "None"?
The property has no garage. Buyers should consider the cost and feasibility of adding a garage or carport in the future, and assess on-street parking availability, especially during Winnipeg winters.
4. How might the age of the home (built 1972) affect things?
While the basement has been renovated, the main structure is over 50 years old. Prospective buyers should pay particular attention to the condition of major systems like the roof, plumbing, electrical, and foundation during an inspection.
5. The assessed value and last sale price seem far apart. Why?
The assessed value ($36.4k) is for municipal tax purposes and is not a market valuation. The last sale was seven years ago at $31.2k. The current market price will be determined by recent comparable sales, condition, and demand. This gap primarily shows tax value growth, not a direct price indicator.