Property Overview: 25 Norberry Drive
Key Characteristics & Appeal
This 1928-built home in Winnipeg's Norberry neighborhood presents a straightforward, value-oriented opportunity. At 850 sqft, its living space is modest, ranking around the middle for its immediate street but smaller than most homes in the wider area and city. Its primary financial characteristic is a notably low assessed value of $207,000, which sits well below averages for the street, neighborhood, and city. This suggests a potentially lower property tax burden and an accessible entry point into the market.
The appeal lies in its practicality. The lot size of 5,422 sqft is fairly typical for the area, offering decent outdoor space. It suits first-time buyers or investors seeking a lower-cost footprint in a mature neighborhood, where the value is in the land and location rather than a large or modern house. A thoughtful perspective is that this property may represent a "blank slate" opportunity—its below-average metrics in size and assessed value could allow for renovation or expansion, adding value in a street where homes are generally assessed higher. It’s a pragmatic choice for those comfortable with a home of vintage character and focused on financial accessibility over immediate move-in size.
Frequently Asked Questions
1. Why is the assessed value so much lower than neighboring homes?
The assessed value is based on municipal evaluation, which considers factors like the home's size, age, and features. Being one of the smaller and older homes on the street directly contributes to this lower assessment, which typically results in lower property taxes.
2. What does the sold price history indicate?
Public records show it last sold between $150,000 and $200,000 in mid-2016. This historical range, combined with the current assessed value, provides a benchmark for its market trajectory. Exact sold prices require a manual lookup request.
3. How does the 850 sqft living area feel for daily life?
The floor plan is compact. While functional for a small household, it's significantly smaller than the Winnipeg average (1,342 sqft). Buyers should consider if the layout meets their spatial needs or if there is potential to reconfigure or expand.
4. Are there concerns with a home built in 1928?
Homes of this age require diligent inspection. While they often feature solid construction, potential buyers should budget for updates to major systems like wiring, plumbing, and insulation, and be mindful of maintenance consistent with a nearly 100-year-old structure.
5. How does the lot size compare, and what are the possibilities?
At just over 5,400 sqft, the lot is slightly smaller than others on Norberry Drive but is generally average for the broader area. This size still allows for a yard and presents possible future opportunities like a garage addition or garden suite, subject to zoning regulations.