Property Overview: 183 Ferry Road, Bruce Park, Winnipeg
Key Characteristics & Buyer Profile
This one-and-a-half storey home, built in 1918, sits on a notably spacious 5,422 sqft lot in Bruce Park. Its key features include a renovated basement and a detached garage. The living space of 1,164 sqft is generous for homes on its street, offering more room than many immediate neighbours. The appeal lies in a combination of a large, established lot—a rarity that ranks in the top 6% for the street—and a home with updated fundamentals. Its last sale was in 2019 for $24,700, with a current assessed value of $26,600.
This property would suit a pragmatic buyer who values land size and potential over a modern footprint. It’s ideal for someone comfortable with the character of a century-old home and who sees the large lot as a long-term asset for gardening, expansion, or simply enjoying extra outdoor space in the city. The renovated basement adds functional living space, making it a practical choice for a first-time homeowner, an investor, or a downsizer looking for a manageable house with a generous yard.
Frequently Asked Questions
1. What does the assessed value ranking mean?
While the assessed value is below average for both the neighbourhood and city, it is around average for Ferry Road itself. This suggests the property is assessed in line with its immediate surroundings, which may be an older, more established streetscape, rather than being undervalued compared to the wider area.
2. Is the large lot typical for the area?
No, the lot size is a standout feature. At 5,422 sqft, it is significantly larger than the average lot on Ferry Road (3,581 sqft) and ranks in the top 6% on the street, offering more private outdoor space than most nearby properties.
3. What should I consider about a home built in 1918?
While it offers classic character, prospective buyers should budget for and inspect age-related systems. The renovated basement is a positive update, but the overall structure, wiring, plumbing, and insulation should be evaluated for modern standards and ongoing maintenance needs.
4. How does the living area compare?
The 1,164 sqft of living area is above average for Ferry Road, meaning the home itself is likely more spacious than many on the block. It is, however, slightly below the average for the broader Bruce Park neighbourhood, indicating it's a comfortably sized home on a premium-sized lot.
5. Why is there a significant difference between the sale price and city-wide assessed averages?
The 2019 sale price and current assessed value are consistent. The dramatically lower figures compared to the city-wide average assessed value (listed as $390k) likely reflect a data discrepancy or a different valuation methodology for this specific property type or area. It is essential to verify current market value through a real estate professional, as this statistical comparison may not be directly applicable.