Property Summary: 213 Ferry Road, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home in Winnipeg's King Edward neighbourhood, built in 1918. Its key characteristic is its position as an affordable entry point into the market. With a living area of 680 sqft, it is notably smaller than most homes in the city, but it sits on a decent-sized lot of nearly 3,800 sqft. The home features a detached garage and an unrenovated basement.
Its primary appeal lies in its value. With a modest assessed value and a recent sold price in the low $200k range, it represents one of the more accessible single-family home options available. The lot size offers potential for expansion, gardening, or outdoor space that is generous for the price point. This property would suit first-time buyers, investors looking for a rental property, or downsizers seeking a manageable footprint without leaving the neighbourhood. It’s a practical choice for those comfortable with a home that may require updates over time, prioritizing land ownership and location over immediate move-in finish.
Frequently Asked Questions
1. How does the size of this home compare to others?
At 680 sqft, the living area is significantly smaller than the Winnipeg average (which is over 1,300 sqft). It is also below average for its immediate street and the King Edward neighbourhood.
2. What is the potential for adding on or renovating?
The lot is a key asset. At 3,789 sqft, it is larger than many nearby properties, providing a tangible opportunity for a future addition, a large garden, or outdoor living space, subject to zoning and permit approvals.
3. Is the basement finished?
No, the basement is noted as "not renovated." Buyers should budget for any desired improvements and consider a thorough inspection for a home of this age.
4. How does the assessed value relate to the likely selling price?
The home has an assessed value of $190k. It sold in mid-2024 for an estimated $225k-$255k, which is a more accurate reflection of its current market value.
5. What is the neighbourhood like for a home of this age?
King Edward features a mix of older and newer homes. A built date of 1918 is around average for the area, meaning services and trades are familiar with homes of this vintage, and you’re unlikely to be the only older home on the block.