Property Overview

This one-storey home at 226 Berry Street in Winnipeg's King Edward neighbourhood presents a specific and compelling opportunity. Its primary appeal lies in the combination of a modest, renovated living space on a significantly larger-than-average lot. With 720 sqft of living area, the house itself is compact, ranking below average in size for the street, neighbourhood, and city. However, it sits on a 6,491 sqft lot, which is notably spacious, placing it in the top 4% of lots in King Edward. This creates a distinct value proposition: lower maintenance and utility costs for the home itself, paired with substantial outdoor potential. The detached garage adds practical storage or workshop space.

The home would suit a first-time buyer or downsizer seeking an affordable entry into the market with a manageable house footprint, but who values private outdoor space for gardening, recreation, or future expansion. It also appeals to the value-oriented investor or renovator who sees potential in the significant land asset. The recent sale in late 2024 suggests it's a turn-key property, but the large lot offers a "blank canvas" appeal that many smaller urban lots do not.

Frequently Asked Questions

1. Is the house too small for a couple or small family?
While the living area is compact at 720 sqft, the renovated basement adds functional space. The true balance is between efficient indoor living and the exceptionally large outdoor area, which can serve as an extension of your living space for much of the year.

2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's modest size and age relative to the entire Winnipeg market. It is, however, very much in line with averages for Berry Street and the King Edward area, indicating it is priced appropriately for its specific location and type of property.

3. What can I do with such a large lot?
The lot size is this property's standout feature. Beyond a large garden or private yard, it offers long-term potential for additions like a shed, workshop, or even a future expansion of the home (subject to zoning and permits). It provides a level of privacy and flexibility rare in urban settings.

4. How does the recent sale price compare to its history?
The home sold in late 2024 for an estimated 28.5k-31.5k, which is a noticeable increase from its 2020 sale price range of 22.5k-25.5k. This indicates strong appreciation in a short period, likely reflecting the value of the renovation and the enduring appeal of its large lot.

5. Is the detached garage a significant advantage?
Yes. In addition to secure parking or storage, a detached garage on a large lot offers versatility. It can easily serve as a workshop, hobby space, or additional storage without impacting the living area of the small main house, effectively adding functional square footage.