Property Overview: 275 Berry Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1921, situated on a standard-sized lot in the King Edward neighbourhood. Its primary appeal lies in its balance of historic character and practical updates, notably a renovated basement that adds functional living space to the 1,052 sqft footprint. The home presents a straightforward, manageable layout typical of its era.
The property’s standout feature is its financial profile. It holds an assessed value that is above average for both its immediate street and the broader King Edward area, suggesting it is well-regarded within its local context. This, combined with its significant appreciation between its 2019 and 2021 sales, indicates a strong value trajectory in its micro-market. However, it’s important to note that this assessment is far below the citywide average, firmly positioning it as an affordable entry point into homeownership.
This home would best suit first-time buyers or practical downsizers looking for a low-maintenance footprint in a central neighbourhood without a large upfront investment. It’s a property for someone who values financial sensibility and location over size or modern amenities, and who appreciates a home that has already seen key renovations like the basement.
Frequently Asked Questions
1. What does the assessed value really tell me?
While the assessed value is above average for King Edward, it is significantly below the Winnipeg average. This highlights that the home is an affordable option within a desirable, central neighbourhood, not that it is undervalued citywide.
2. The home sold recently in 2021. Does that matter?
Yes, it provides a relatively current market price benchmark. The notable increase from its 2019 sale price shows strong local value growth in that period, which is a positive historical indicator.
3. What are the implications of a 1921 build date?
You inherit a century of character but must be pragmatic about aging core components. While the basement is renovated, the main structure, plumbing, and electrical systems may require careful inspection and potential updates.
4. How does the lot size affect future potential?
At just over 4,500 sqft, the lot is standard for the area. It offers adequate outdoor space but may present limitations for significant expansions or additions, should that be a future consideration.
5. There’s no garage. How big of an issue is this?
For this type of home and neighbourhood, the lack of a garage is common. Buyers should plan for street parking, which is typical, and factor in the seasonal inconveniences that come with it in a Winnipeg climate.