Property Overview
This one-storey home at 328 Berry Street in Winnipeg's King Edward neighbourhood presents a practical opportunity in a well-established area. Its key appeal lies in being a solid, renovated baseline property that outperforms many local comparables in value, offering more house for the money within its immediate context.
Key Characteristics & Ideal Buyer
The 1,049 sqft home sits on a 4,288 sqft lot and was built in 1947. Its recently renovated basement adds functional living space. The home’s assessed value of $29.3k ranks above average for both Berry Street and the wider King Edward area, suggesting it is viewed as a higher-quality asset within its local market compared to nearby homes. However, this value is below the Winnipeg city-wide average, indicating it represents a more affordable entry point within the broader city. The living space is typical for the street but above average for the neighbourhood, meaning you get more interior space than many homes in King Edward.
This property would suit a first-time homebuyer or an investor looking for a turnkey, low-maintenance footprint in a central location. It’s also ideal for someone who prioritizes value within a specific community over city-wide comparisons—you’re getting a well-regarded home for this area. The renovated basement and detached garage offer flexibility for hobbies, storage, or potential income.
Frequently Asked Questions
1. What does the assessed value ranking actually mean for me?
It means that according to municipal assessment, this property is considered more valuable than 74% of homes on its street and 72% of homes in King Edward. This often correlates with better upkeep or features, but it's not a direct market price.
2. Is the living space sufficient for a family?
At just over 1,000 sqft plus a renovated basement, it's compact but efficient. It likely suits a small family or couple comfortably, with the basement providing crucial extra space for a family room or home office.
3. How does the age of the home (1947) affect things?
While the structure is nearly 80 years old, the renovated basement suggests updates have been made. Buyers should still budget for potential updates to other original systems, like plumbing or wiring, common for homes of this era.
4. The last sold price range shows $23.5k-$26.5k in 2019, but the assessed value is now $29.3k. Why the difference?
Assessed value is for taxation and can differ from market value. The increase since 2019 likely reflects the basement renovation and general market changes. The current market price will be determined by recent sales and buyer demand.
5. What are the advantages of a detached garage?
It provides excellent storage, a dedicated workspace, and reduces noise or fumes from entering the main house. However, it requires going outside to access, which can be a consideration during Winnipeg winters.