Property Overview: 283 Ferry Road, Winnipeg
Key Characteristics & Appeal
This is a classic, one-storey home built in 1914, offering a straightforward living space of 980 sqft on a generous 4,049 sqft lot in the King Edward neighbourhood. Its key appeal lies in its position as a modest, entry-level property with a solid lot size for the area. The home presents a clear value proposition: it is priced and assessed significantly below the Winnipeg city-wide average, making it one of the more accessible homeownership opportunities available. While the basement exists, it is noted as not being renovated, indicating potential for future improvement or simply functional storage space.
The property would suit first-time buyers or practical investors looking for a lower-barrier entry into the market, particularly those who value lot size over a large or modernized living area. Its assessed value is stable and typical for its immediate area, suggesting a predictable holding cost. A thoughtful perspective for a home of this era is the potential for character and sturdy construction that often comes with early 20th-century builds, balanced against the need for ongoing maintenance and updates. It’s a home that offers more outdoor space than many modern city lots, appealing to those with gardening ambitions or who simply want room to breathe.
Frequently Asked Questions
1. How does this home compare to others in the area?
Within the King Edward neighbourhood and on Ferry Road itself, this home is very typical. Its living area, land size, and assessed value all rank around the local average, meaning it is a representative example of the area's housing stock rather than an outlier.
2. What should I know about the basement?
The listing specifies the basement exists but is "not renovated." Buyers should budget for potential moisture management, insulation, or cosmetic updates if they plan to use it as living space, and are encouraged to inspect it thoroughly.
3. The home was built in 1914. What are the implications?
While offering classic charm, a 110+ year-old home will likely have older systems (like plumbing and electrical) and require diligent upkeep. Its assessed value reflects this age, but it also means there may be heritage character not found in newer builds.
4. How does the lot size benefit a buyer?
At over 4,000 sqft, the lot is larger than many in the immediate area and significantly larger than the city-wide average for a home at this price point. This provides valuable outdoor space, potential for additions (subject to zoning), and a sense of privacy.
5. The last recorded sale was in 2019. What does that indicate?
The sale six years ago suggests a period of stable ownership. For a buyer, this can mean the seller’s motivation may be a life change rather than a quick flip, potentially allowing for a more straightforward negotiation.