Property Overview: 377 Ferry Road, Winnipeg
Section 1: Key Characteristics & Appeal
This bi-level home at 377 Ferry Road in King Edward presents a practical and modern opportunity within a well-established Winnipeg neighbourhood. Its key characteristic is its relative newness, built in 2006, which stands out significantly against the area's predominantly older housing stock. This suggests updated building systems and potentially lower immediate maintenance needs compared to century-old homes.
The appeal lies in its efficiency and value positioning. With 846 sqft of living space and a renovated basement, it offers compact, functional living. The assessed value is notably above average for the immediate King Edward area, indicating it is viewed as a higher-quality asset locally, yet it remains well below the city-wide average for home prices. This creates a unique niche: a newer, low-maintenance property in a central neighbourhood at an accessible price point.
This property would suit first-time buyers or downsizers seeking a modern, manageable home without a large yard to maintain. It’s also a sensible fit for an investor looking for a relatively recent build with proven rental demand in a central location. The home is less suited for those needing substantial indoor space or a large private outdoor area, as both the living area and lot size are below city averages.
Section 2: Frequently Asked Questions
1. How does the 2006 build date impact this home compared to others in King Edward?
It’s a significant advantage. Most homes in this area were built in the early to mid-1900s. A 2006 build typically means more modern wiring, plumbing, insulation, and building codes, which can translate to greater energy efficiency and fewer major system upgrades in the near term.
2. The assessed value seems high for the neighbourhood but low for the city. What does that mean?
This indicates the property is considered a higher-quality asset within the local King Edward market context. However, because the neighbourhood’s overall price level is below the Winnipeg average, the dollar value remains very accessible compared to many other parts of the city. It reflects a balance of quality and location.
3. Is the living space of 846 sqft sufficient for a family?
The bi-level design with a renovated basement effectively doubles the usable space. While the above-ground square footage is compact, the finished basement provides crucial flexibility for additional bedrooms, a family room, or storage, making it functional for a small family or couple.
4. What are the implications of the smaller lot size?
The lot is under 2,700 sqft, which is below average for both the area and the city. This means lower yard maintenance, which is a plus for those seeking a lock-and-leave lifestyle. The trade-off is limited space for extensive gardening, large outdoor gatherings, or future expansions like a large deck or garage.
5. Why is the exact historical sale price provided as a range?
Public records often group sale prices into bands for privacy. The provided range is based on this available data. For precise figures necessary for detailed valuation, you can request the exact sold price history directly via email, as the listing service maintains accurate records and provides them manually upon request.