Property Overview: 792 Berkley Street, Winnipeg

Section 1: Key Characteristics & Appeal

This is a classic 1952 one-storey home on a notably large 5,100 sqft lot in the Betsworth neighbourhood. Its primary appeal lies in its land value and location within a well-established community. The house itself is modest at 686 sqft, ranking it among the smallest in the immediate area, and features an unrenovated basement and no garage.

The property’s standout strengths are its lot size—ranking in the top 3% for the street and neighbourhood—and its desirable age ranking, being newer than most nearby homes. This presents a clear opportunity: it’s a prime candidate for a value-add renovation or a complete rebuild to maximize the potential of the sizable lot. The assessed value is stable and ranks well locally, suggesting a solid foundation for investment.

This home would best suit a practical buyer or investor who sees beyond the current structure. It’s ideal for someone looking for a footprint in a mature neighbourhood, willing to undertake updates or a new build. It also appeals to those seeking lower property taxes relative to the land value, or someone wanting a manageable, single-level living space with ample outdoor room.

Section 2: Frequently Asked Questions

1. What does the lot size ranking actually mean?
The "top 3%" ranking means this 5,100 sqft lot is larger than 97% of other lots on Berkley Street and in the Betsworth neighbourhood. It’s a genuinely large parcel for the area, which is a key asset.

2. The living area is ranked in the bottom 4% in Winnipeg. Is the house too small?
At 686 sqft, it is a compact home. This isn’t necessarily a drawback, but a defining characteristic. It suits those looking for minimal interior upkeep or who plan a significant expansion. The value here is in the land, not the current square footage.

3. The home sold for less than its assessed value in 2020. Is that a concern?
Not inherently. The 2020 sale price of $22.5k (vs. a current assessed value of $26.7k) likely reflects the home’s condition at that time. The more relevant point is that both figures are very low, underscoring that the price is driven by the land and location, not the structure.

4. There’s no garage. How does that impact value and use?
The lack of a garage is typical for many homes of this era and is factored into the price. The large lot, however, provides ample space to add a garage or a driveway with significant parking, which would be a straightforward value improvement.

5. What is the neighbourhood like, given these rankings?
The rankings show the property itself—its lot and build year—compares very favourably within Betsworth. This suggests it’s in a stable, established part of the neighbourhood. The high percentile rankings for the lot indicate it’s an above-average property on its street, which is a positive sign for the specific location.