Property Overview: 223 Ferry Road, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1918, situated on a standard-sized lot in the King Edward neighbourhood. With 793 square feet of living space, it is notably smaller than both the local and city-wide averages, positioning it as a more manageable property. It features a detached garage and an unrenovated basement. The home’s assessed value is modest and aligns closely with averages for its immediate street and neighbourhood, though it sits below the broader Winnipeg average.
The primary appeal lies in its simplicity and affordability within a central Winnipeg community. It represents a straightforward entry point into homeownership, with property taxes likely reflecting its lower assessment. The smaller scale means lower utility costs and less maintenance, which can be a significant draw. This property would suit first-time buyers, downsizers looking to simplify, or investors seeking a modest rental property. Its unrenovated state offers a blank canvas for someone wanting to add value through updates, though it also means immediate livability may require some work. A thoughtful perspective is that its smaller size and older character offer a lifestyle less focused on maintaining space and more on the practicalities of community living.
Frequently Asked Questions
1. How does the home's size compare to others?
At 793 sqft, the living area is below average for the street, neighbourhood, and especially the city. It ranks in the top 72% on its street (meaning 72% of comparable homes on Ferry Road are larger), indicating it is one of the smaller homes in the immediate area.
2. What is the significance of the assessed value?
The assessed value of $23,400 is around the average for King Edward and Ferry Road, but well below the Winnipeg city average. This typically suggests proportionally lower property taxes, which is a key factor in ongoing affordability.
3. What should I know about the basement?
The listing specifies the basement exists but is "not renovated." Buyers should budget for potential updates and investigate its current condition, moisture levels, and suitability for storage or future development.
4. Is the land size a pro or a con?
The 2,704 sqft lot is near the average for Ferry Road but below the neighbourhood and city averages. It provides a manageable yard without extensive upkeep, but offers less private outdoor space than many newer properties.
5. How does the age of the home factor in?
Built in 1918, the home is older than most in Winnipeg. This can mean charming character but also necessitates a thorough inspection for aging components like wiring, plumbing, and the foundation, which may need attention or updating.