Property Overview: 328 Ferry Road, Winnipeg
Key Characteristics & Appeal
This is a modern, recently built (2023) bi-level home in Winnipeg's King Edward neighbourhood. Its primary appeal lies in its new construction status, offering a move-in-ready property with contemporary systems and finishes, and a recently renovated basement. The home's 1,086 sqft living area is notably above average for both its immediate street and the wider King Edward area.
The property presents a specific value proposition. While the land size is compact compared to area averages, this is balanced by a very high assessed value relative to the neighbourhood, indicating a premium, modern build on a smaller lot. It would suit a buyer prioritizing a low-maintenance, newer home in an established central area, who values modern amenities over a large yard. It's also a strong candidate for someone looking to avoid the immediate renovation costs and uncertainties often associated with older homes in the city's core.
Frequently Asked Questions
1. Is the price reasonable for a home with a smaller lot?
The assessed value is in the top 4% for King Edward, reflecting the premium for a new build. The value is in the modern construction and finished living space, not the land size. This trade-off is typical for infill development.
2. What does the "Elite" ranking for Year Built mean?
It simply means this is one of the newest homes in its comparison groups. In an area with many homes dating to the early 1900s, a 2023 build is a statistical rarity, which can mean lower upkeep costs initially.
3. How does the living area compare to a typical two-story home?
At 1,086 sqft, it's above average for the local area but below the city-wide average. The efficient bi-level design often means well-utilized space, but room sizes may be more compact than in some larger, older homes.
4. What are the implications of a recently renovated basement?
This adds immediate liveable or rental space without future investment. Ensure permits were obtained for the work, as this is a critical step for any structural or plumbing/electrical renovations.
5. The home sold recently in 2023; what should I consider?
A quick resale can be neutral—a change in the owner's circumstances—but it's wise to understand the seller's motivation. Given the new build, inquire about any remaining builder warranties that might be transferable.