Property Overview: 301 Ferry Road, Winnipeg
Key Characteristics & Appeal
This 2020-built bi-level home at 301 Ferry Road in King Edward offers a rare combination of modern construction and established neighbourhood character. Its key appeal lies in being a like-new property without the typical premium of a brand-new subdivision. With 1,178 sqft of living space and a renovated basement, it provides functional, contemporary living on a solid 4,317 sqft lot.
The home’s standout feature is its exceptional assessed value of $470k, which places it in the top 1-2% of properties on its street and in the King Edward neighbourhood. This suggests a high-quality build and/or significant upgrades relative to the area, which is predominantly composed of much older homes. The detached garage adds practical utility. It’s a property that suits buyers looking for minimal immediate maintenance, modern layouts, and the stability of an older community, but who want to avoid a renovation project. It would particularly appeal to a professional or a small family prioritizing move-in readiness and energy efficiency in a central location.
A less obvious perspective is that this home represents a specific market niche: it’s a modern infill in a mature area. This means you benefit from newer systems and design, but your immediate streetscape and community amenities are long-established. The value ranking also indicates it may be priced at the upper limit for the immediate area, which is a factor for future resale consideration.
Frequently Asked Questions
1. Why is the assessed value so much higher than nearby homes?
The assessed value of $470k is elite for the area, largely because the home was built in 2020. Compared to the neighbourhood's average home age (circa 1948-1958), this property has modern construction, materials, and systems, which significantly increase its valuation.
2. What does the "Top X%" ranking for living area mean?
The 1,178 sqft living area is above average for King Edward (top 15%), meaning it offers more interior space than most homes in the neighbourhood. However, city-wide, it's around the median, indicating it's a reasonably sized but not exceptionally large home for Winnipeg overall.
3. Is the lot size typical?
At 4,317 sqft, the lot is slightly above average for Ferry Road and King Edward. It provides a decent outdoor space but is smaller than the city-wide average lot, which is common for central, established neighbourhoods.
4. The last sold price shown is from 2020. What is the property's likely current value?
The data shows a sale in the $375k-$405k range in August 2020, shortly after construction. The current $470k assessment reflects significant appreciation. For an accurate current market value, a comparative market analysis with a local realtor is essential, as the assessment is for taxation purposes and may not perfectly align with market price.
5. What are the pros and cons of a home that ranks "elite" in value for its street?
The primary pro is owning one of the newest and likely highest-quality homes in the immediate area. The potential con is that future market appreciation may be influenced by the slower-moving values of older surrounding properties, rather than just the new home premium.