Property Overview: 376 Ferry Road, Winnipeg
Key Characteristics & Appeal
This bi-level home at 376 Ferry Road in Winnipeg's King Edward neighbourhood presents a practical and affordable entry point into the market. Its key characteristic is its compact efficiency, with 775 sqft of living space and a renovated basement, making it a low-maintenance option. The home is relatively modern for the area, built in 1986, which can mean fewer concerns about aging major systems compared to much of the surrounding housing stock.
The appeal lies in its value positioning. With an assessed value around $23.6k and a recent sold price indicating a very accessible market range, it stands out for its affordability. It suits first-time buyers, investors, or downsizers seeking a straightforward, no-frills property without a large upfront investment or extensive upkeep. A less obvious perspective is its lot size: at 2,470 sqft, the land is below average for the city, which translates to minimal yard maintenance—a potential benefit for those seeking a true lock-and-leave lifestyle or who prioritize interior space over outdoor space. Its "around average" assessments on its own street suggest it fits neatly into the local context without overreaching, offering stability rather than standing out.
Frequently Asked Questions
1. Is this a small house?
Yes, at 775 sqft, the living area is below the average for Winnipeg. This makes it a compact, efficient layout ideal for individuals, couples, or small families.
2. What does the "renovated basement" include?
The listing confirms a renovated basement but does not specify the scope. This would require clarification with the seller or listing agent to understand the finishes and whether it includes additional living space, a suite, or simply updated utilities.
3. How does the assessed value relate to the selling price?
The assessed value for tax purposes is $23.6k. The recent sold price history shows a range from $24.5k to $27.5k, indicating the market price is close to but can vary from the official assessment.
4. There's no garage. Is street parking readily available?
The property has no garage. Given its location on Ferry Road, which is a residential street, parking is likely on-street. Verifying any permit requirements or typical availability with the city would be advisable.
5. The home is newer than many in the area. What are the implications?
Built in 1986, it is newer than many neighbouring homes. This can be an advantage regarding the potential age of roofing, wiring, or plumbing, but a professional inspection is still essential to confirm the condition of all components.