Property Overview: 232 Thomas Berry Street, Central St. Boniface
Key Characteristics & Appeal
This is a classic one-storey home built in 1908, situated on a 3,124 sqft lot in Central St. Boniface. With 807 sqft of living space, a detached garage, and an unrenovated basement, the property presents a straightforward, no-frills opportunity. Its core appeal lies in its land value and location within a historic Winnipeg neighbourhood. The home’s assessed value is notably low, and recent sale prices have been a fraction of typical city-wide averages, indicating this is primarily a land play or a foundational project.
The property would suit a specific type of buyer: an investor or handy purchaser looking for a lot with an existing structure in St. Boniface, willing to undertake a significant renovation or rebuild. It’s less suited for someone seeking a move-in-ready home. A thoughtful perspective is that while the house itself ranks below average in size and condition metrics for the area, it offers a rare entry point into a established neighbourhood where the land itself holds the inherent value. The recent sales history suggests it’s seen as a utility asset, not a conventional home.
Frequently Asked Questions
1. Why is the sale price so much lower than the assessed value of nearby homes?
The property’s very low assessed value and sale price reflect the current state of the home itself, which is small, aged, and requires modernization. The value is primarily in the land, not the existing structure.
2. What does "below average" in the rankings mean for a buyer?
For metrics like living area and year built, it confirms the home is smaller and older than most in the immediate area. For price and assessed value, it highlights the property’s affordability and potential as a starting point rather than a finished product.
3. Is the unrenovated basement a major concern?
It represents both a project and an opportunity. While it will need work to be finished and habitable, it also means a new owner can design and update it to modern standards without undoing previous renovations.
4. Who would be the typical buyer for this property?
This property is most suitable for investors, developers, or very hands-on homeowners who see potential in the location and lot size, and who have the capacity and budget for a major renovation or redevelopment.
5. How does the 2016 sale price of $170k compare to today's value?
The significant drop in sale price after 2016 strongly indicates a change in the property’s condition or perceived utility. It underscores that current value is not as a standard family home, but rather for its lot and redevelopment potential.