Property Summary: 300 Ferry Road, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1918, offering a straightforward and affordable entry point into Winnipeg’s King Edward neighbourhood. Its key appeal lies in its value proposition: it presents a below-average purchase price for the city, with property taxes reflecting its modest assessed value. The home sits on a smaller lot for the area, which translates to less maintenance. Its living space of 788 sq ft is cozy, and the basement exists but is unrenovated, representing potential for future improvement.
This property would suit a pragmatic first-time buyer, an investor looking for a rental property, or someone seeking a low-maintenance footprint. Its value is functional rather than luxurious. A thoughtful perspective is that its older age and smaller size, while limiting for some, offer a chance to live in a central neighbourhood at a lower ongoing cost than newer or larger homes. The recent sale in 2023 suggests it’s a turnkey property, but buyers should be prepared for the character and potential upkeep of a century-old structure.
Frequently Asked Questions
1. Is this a good value compared to other homes?
Based on assessed value and recent sale prices, this home is consistently priced below the Winnipeg city average. In its immediate area and neighbourhood, it sits around the average, making it a competitively priced option within King Edward.
2. What should I know about the basement?
The listing confirms the basement is unrenovated. Prospective buyers should budget for potential updates and are advised to investigate its condition, moisture levels, and ceiling height during a viewing.
3. How does the lot size impact the property?
At just under 2,500 sq ft, the lot is smaller than most in King Edward and significantly smaller than the Winnipeg average. This means less outdoor maintenance but also limited space for expansions, additions, or extensive landscaping.
4. The home was built in 1918. What does that mean for me?
You are buying a piece of history with inherent character. Practically, it means wiring, plumbing, and insulation may not be to modern standards unless specifically updated. An inspection is highly recommended to understand the condition of these older systems.
5. Who are the likely neighbours?
The nearby reference properties show a mix of similarly aged, modest-sized homes and one much newer build (308 Ferry Road, built 2020). This indicates a neighbourhood in a gradual state of change, with potential for varying property styles and values on the same street.