Property Overview: 261 Berry Street, Winnipeg
Key Characteristics & Appeal
This is a substantial, century-old home in Winnipeg's King Edward neighborhood, built in 1918. Its primary appeal lies in its generous scale and significant lot size. The house offers nearly 2,000 sqft of living space, placing it in the top tier for size both on its street and within the neighborhood. More notably, the property sits on a large, approximately 7,000 sqft lot, which ranks in the top 3% for the King Edward area. This combination suggests ample indoor and outdoor space that is rare for the locale.
The home is a Two & 1/2 Storey design with a detached garage and an unfinished basement, presenting a classic canvas. Its assessed value is modest relative to its physical footprint, which may indicate an opportunity for a buyer willing to invest in updates. This property would best suit a buyer looking for a project—someone who values character, space, and land over move-in-ready finishes. It’s ideal for a household needing room to grow, a DIY enthusiast, or an investor who sees potential in the sizable lot and the enduring appeal of a large, classic home in a central neighborhood.
Frequently Asked Questions
1. What is the true condition of the home?
The listing notes the basement is "not renovated," which typically means it is unfinished and in original condition. Given the home's age (1918), buyers should budget for potential updates to major systems like plumbing, electrical, and insulation, alongside any cosmetic renovations.
2. Why is the assessed value relatively low compared to the home's size?
The assessed value of $34,100 reflects the municipality's valuation for tax purposes, which often lags behind market value and can be influenced by the home's age and condition. The significant discrepancy between its size/lot rankings and its value ranking suggests the condition significantly impacts the official assessment.
3. How does the lot size compare to typical city lots?
At 6,951 sqft, the lot is substantially larger than the average in King Edward (~3,800 sqft) and above the city-wide average. This allows for more privacy, yard space, and potential for additions or landscaping not usually possible on standard lots.
4. What can the 2022 sale price range tell us?
The home sold for an estimated $36.5k-$39.5k in early 2022. This very low sale price, consistent with a low assessed value, strongly indicates the property is a fixer-upper. It provides a recent benchmark, but market conditions have likely evolved since then.
5. What are the less obvious considerations with a property like this?
First, the "Elite" size ranking means this home is an outlier in the area; this is positive for space but could affect resale appeal to buyers seeking a more typical, low-maintenance property. Second, the large lot is a major asset, but it also means higher maintenance responsibilities and potentially higher landscaping costs. Finally, the century-old charm comes with the reality of older construction materials and methods, which should be evaluated by a specialized inspector.