771 Berkley Street

Property Overview: 771 Berkley Street, Winnipeg

Key Characteristics, Appeal & Ideal Buyer

This is a distinctive, well-established property in Betsworth, built in 1973. Its primary appeal lies in its generous, private setting and strong performance in key metrics. Sitting on a large, approximately 12,774 sqft lot, the home ranks in the top 3% for land size across all of Winnipeg, offering exceptional outdoor space and privacy that is increasingly rare. The property features a finished basement, an in-ground pool, and an attached garage.

Its appeal is grounded in solid, long-term value. The home consistently ranks highly against its peers, especially in its own street and community, for lot size, living area (1,517 sqft), and assessed value ($546,000). Notably, it ranks in the top 12% of the entire city for assessed value, suggesting a premium positioning. A thoughtful perspective is that while the home is over 50 years old, its lot size and value rankings indicate it is situated in a mature, desirable area where the land itself constitutes a significant portion of the asset. This property would best suit buyers looking for a spacious, private retreat within the city—those who value ample yard space for gardening, recreation, or future expansion over a brand-new build. It’s ideal for a family or someone who enjoys outdoor living and entertains, with the pool serving as a central feature.

Frequently Asked Questions

1. How does the age of the home (1973) impact its condition and potential costs?
While the home is over five decades old, its above-average rankings for assessed value and recent sale price (2016) suggest it has been maintained in a way that preserves its market value. Buyers should still budget for updates common to homes of this era, such as roofing, windows, or major systems, but the strong value metrics indicate a well-kept property.

2. What is the significance of the high ranking for lot size?
Ranking in the top 3% in Winnipeg for lot size is a major asset. It offers unparalleled privacy and space for a city property, allowing for potential additions, extensive landscaping, or simply enjoying a large, private yard. This is a finite feature that typically appreciates well.

3. The home has a pool. What should I consider?
An in-ground pool is a premium feature for summer enjoyment but requires ongoing maintenance and has associated operating costs. It significantly enhances the lifestyle appeal for the right buyer but is a personal valuation of leisure versus upkeep.

4. The 2016 sale price was $453,000, and the current assessment is $546,000. What does this indicate?
This increase suggests strong appreciation over an 8-year period, reflecting both market trends and the inherent value of the large lot. The assessment provides a baseline for municipal taxes, but the final market price is determined by current conditions.

5. Who is the typical buyer for this type of property?
This property suits buyers prioritizing space and privacy over a modern, turn-key home. It's ideal for those who see value in a generous lot, are comfortable with a home that may require periodic updates, and who will utilize the outdoor amenities like the pool and expansive yard. It appeals to long-term homeowners looking to establish roots in a mature neighbourhood.