Property Overview: 347 Berry Street, Winnipeg

Key Characteristics & Appeal

This 2023-built bi-level home at 347 Berry Street is a modern offering in Winnipeg's King Edward neighbourhood. Its primary appeal lies in its combination of new construction and a surprisingly low assessed value. With 1,070 sqft of living space and a renovated basement, the home provides a functional, move-in-ready layout on a standard city lot. The data reveals a compelling contrast: while its living and land area are generally average for its street and the city, its assessed value ranks in the elite top 5% for the immediate area and its newness is in the top 1% city-wide. This suggests a property that is both modern and fiscally efficient from a tax perspective.

The home would suit first-time buyers or downsizers seeking a newer, low-maintenance property without a premium price tag tied to a brand-new suburb. It also appeals to the value-conscious buyer who prioritizes modern building standards and a recent renovation over a larger footprint or an established garden. A less obvious perspective is its potential for investors or buyers focused on long-term cost predictability, as the new systems (plumbing, electrical, roof) minimize near-term repair risks and the low assessment could signal relative tax savings compared to older, similarly priced homes.

Frequently Asked Questions

1. Why is the assessed value so much lower than typical sold prices?
Assessed values in Manitoba are primarily for municipal tax purposes and often don't reflect current market value, especially for very recent builds. The recent sale price (listed here as $47.5k - $50.5k in 2024) is the true market indicator.

2. What does the "elite" ranking for Year Built actually mean?
It means this is one of the newest homes not just on its street, but in the entire city. Compared to the average Winnipeg home built in 1966, this 2023 construction offers contemporary building codes, materials, and energy efficiency.

3. Is a bi-level style suitable for everyone?
Bi-levels feature split entry stairs. This can be less ideal for those with significant mobility concerns but often provides excellent separation of living and sleeping areas, making the layout efficient for many families.

4. What are the implications of having no garage?
This means all parking will be on the driveway or street. Buyers should consider their vehicle storage needs, winter climate implications, and whether the lot has space for a future garage addition, subject to local bylaws.

5. The home sold very recently. Why would it be back on the market?
While the provided data doesn't specify a current listing, a quick resale could be due to many neutral factors like a change in the owner's job, financial situation, or family plans, and isn't necessarily a reflection on the property itself.