281 Ferry Road

Property Overview

281 Ferry Road is a compact, one-storey home built in 1914, situated on a standard-sized lot in Winnipeg's King Edward neighbourhood. Its key appeal lies in its position as an accessible entry point into the housing market. With a living area of 720 sqft, it is notably smaller than most homes in the city, but its assessed value is proportionally low, reflecting its scale and vintage. The home lacks a basement, garage, and pool.

This property would suit a first-time buyer, an investor looking for a rental property, or someone seeking a minimalist, low-maintenance footprint. Its value is functional rather than luxurious, offering the fundamentals of homeownership. A thoughtful perspective is that its age and simple structure could mean fewer complex systems to maintain than a newer, more built-out home, though it may also require updates. It’s a practical choice for those comfortable with a cozy living space who prioritize location and affordability over size.

Frequently Asked Questions

1. What are the main things to know about this home's size and value?
This is a smaller home (720 sqft) on a decent lot (~2,700 sqft). Its assessed value is below the city average, which aligns with its compact size and older age, making it a lower-cost option in the market.

2. Who would this property be a good fit for?
It's best suited for first-time homebuyers, investors, or downsizers looking for an affordable, no-frills property. It appeals to those who value a straightforward, manageable living space without the upkeep of a larger home or yard.

3. What does "no basement" practically mean for storage and utilities?
Without a basement, all living, storage, and mechanical systems (like the furnace and water heater) are on the main floor. This limits storage space but can also mean easier access for maintenance and no risk of basement flooding.

4. How does this home compare to others in the area?
The home is older and smaller than most on its street and in the wider King Edward neighbourhood. However, its assessed value is around the neighbourhood average, suggesting it's priced in line with local expectations for a home of its type.

5. The home was built in 1914. What should I consider?
While the structure has proven durable, a home of this age will likely need updates to wiring, plumbing, and insulation to meet modern standards and efficiency. A thorough inspection is essential to understand the condition and any needed investments.