Property Overview: 279 Berry Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1926, situated on a standard-sized lot in the King Edward neighbourhood. Its key characteristic is its modest scale, with a living area of 704 sq ft that is notably smaller than most homes in the city, neighbourhood, and even on its own street. However, it features a renovated basement, adding functional space. The home’s assessed value is proportionally low, especially when compared to the city-wide average, suggesting an accessible entry point into the market.
The primary appeal lies in its affordability and efficiency. It represents a straightforward, lower-maintenance property without the premium price tag of larger or newer homes. The renovated basement offers immediate utility without the need for initial projects. This property would best suit first-time buyers, downsizers, or pragmatic investors seeking a cost-effective foothold in Winnipeg. It’s for those who prioritize financial accessibility and a manageable footprint over square footage, recognizing that its value is anchored more in the land and location than in the size of the dwelling itself.
Frequently Asked Questions
1. Is this a tiny home?
While its 704 sq ft living area is compact, it is not officially classified as a "tiny home." It is a small, traditional one-storey house, typical of older, efficient builds, and is supplemented by the renovated basement space.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's relatively small size and age compared to the broader Winnipeg market. It is more in line with averages for the King Edward neighbourhood and Berry Street itself, indicating it is priced appropriately for its immediate context.
3. What does the ‘renovated basement’ include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This is a key detail to clarify with the selling agent to understand if it’s a finished living space, a modern utility area, or includes legal secondary suite potential.
4. How does the lot size affect future potential?
The lot is a standard city size. While not oversized, it provides typical outdoor space and, importantly, may offer future potential for additions, a garage, or landscaping projects, subject to local zoning regulations.
5. The sold price history shows a range from 2022. How is that useful?
The past sold price provides a recent benchmark for market value, showing what a buyer was willing to pay under previous market conditions. It’s a crucial data point for understanding trends and formulating a current offer, though it should be considered alongside more recent comparable sales.