Property Overview
This 2019-built bi-level home at 360 Ferry Road offers modern construction in Winnipeg's King Edward neighbourhood. Its key appeal lies in being a newer home in an area of much older housing stock, potentially reducing immediate repair costs. At 914 sqft with an unrenovated basement, it provides functional living space on a modest 2,474 sqft lot. The assessed value of $290k positions it above average for the local area but below the city-wide average, suggesting a relative value within its established community.
The home suits first-time buyers or downsizers seeking a low-maintenance, modern property without the premium of a brand-new build. Its smaller lot and compact footprint offer easier upkeep. A thoughtful perspective is that while the lot size is below average for the city, it contributes to a lower maintenance burden and may align with a simpler lifestyle. The home’s newer age is a significant asset in a neighbourhood where most homes are decades older, though the unrenovated basement presents a blank canvas for future expansion.
Frequently Asked Questions
How does the property’s value compare to the area?
The home’s assessed value is above average for both Ferry Road and the broader King Edward neighbourhood, but below the average for the entire city. This indicates you are paying a premium for the modern build within this specific community.
What does the “unrenovated basement” mean?
The basement is finished as part of the bi-level layout but has not been updated since the home was built in 2019. It’s a functional space that may lack modern finishes, offering the next owner a chance to customize it to their taste without the need for a full, costly excavation or structural work.
Is the lot size a concern?
The land area is significantly smaller than average for Winnipeg. This means less outdoor maintenance and gardening, but also limited space for expansions like a large addition, garage, or pool. It’s a trade-off that prioritizes the building over the land.
Why is the year built highlighted as “Elite” for the area?
Built in 2019, this home is newer than approximately 96% of homes in King Edward and city-wide. In a neighbourhood with an average home built around 1948, this modern construction is a rare find, suggesting newer major systems like plumbing, wiring, and insulation.
What was the previous sale price?
Public records indicate the home sold in April 2020 for between $245,000 and $275,000. For the exact sale price, you can request the information directly via the provided email service on the listing page.