Property Overview
This one-storey home at 354 Ferry Road in Winnipeg's King Edward neighbourhood presents a practical and well-maintained living option. Its key appeal lies in offering above-average space and value within its immediate area, making it a solid contender for specific buyers.
Key Characteristics & Suitability
The home's primary strength is its living area. At 1,152 sqft, it is notably larger than most comparable homes on Ferry Road and in the wider King Edward area, ranking in the top 18% for space in both categories. This is complemented by a renovated basement, adding functional living space, and a detached garage. The lot size is standard for the local area. While the 1960 build date is average for the neighbourhood, the recent basement renovation suggests thoughtful updates.
Its appeal is grounded in value within a established community. For buyers prioritizing more interior space over a massive yard or a brand-new build, this property delivers significantly more square footage than its local peers. The assessed value is above average for King Edward, yet the recent sold price indicates it transacts at a level that is accessible relative to the city-wide market.
This property would best suit first-time buyers, downsizers, or practical investors seeking a move-in ready home with a smart layout and no major maintenance overhauls. It’s for those who value neighbourhood character and space efficiency over a downtown proximity or a sprawling property.
Frequently Asked Questions
1. How does this home’s size compare to others nearby?
Very favourably. With 1,152 sqft of living area, this home is larger than approximately 82% of similar properties on its street and in the King Edward neighbourhood.
2. What is the significance of the "renovated basement"?
While specific finishes aren't detailed, a renovated basement typically indicates it is finished as livable space (e.g., rec room, additional bedrooms), adding to the home's functional square footage beyond the main floor.
3. Is the assessed value the same as the market price?
No. The assessed value (29.50k) is for municipal tax purposes. The recent sold price range (26.50k ~ 29.50k) reflects the actual market value, which can be higher or lower than the assessment.
4. What are the implications of a 1960 build date?
It means the home is of a vintage where major systems (like roof, plumbing, wiring) may be due for updates or replacement. The renovated basement is a positive sign, but a thorough inspection is always recommended.
5. How does the lot size affect future potential?
At just over 4,000 sqft, the lot is standard for the area. It provides adequate private outdoor space but may have limitations for significant expansions or additions compared to larger, suburban lots.