Property Overview: 380 Ferry Road, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1918, situated on a standard-sized lot in the King Edward neighbourhood. Its key characteristic is its modest scale, with 675 sq ft of living space and an unrenovated basement. The home has a detached garage. The data indicates it is notably smaller and has a significantly lower assessed value than both the Winnipeg city average and most homes in its immediate area.
The primary appeal lies in its position as an accessible entry point into the market. It suits a specific type of buyer: those seeking a minimal footprint, first-time buyers comfortable with a project, or investors looking for a straightforward rental property. Its very low property taxes, due to the low assessment, are a clear financial advantage. A less obvious perspective is that a home of this size and vintage, while requiring updates, offers a manageable scale for someone wanting to minimize both their physical space and financial overhead. It represents a pure value play on owning land and a structure in the city, rather than a move-in-ready feature home.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is based primarily on the home's very small size (675 sq ft), its age, and the condition of its finishes and systems. It reflects the market value for a modest, unrenovated property rather than an error.
2. What does "below average" for living area mean in practical terms?
With 675 sq ft, the living space is significantly smaller than the typical Winnipeg home (~1,342 sq ft). This indicates a compact floor plan with likely one or two bedrooms and limited common areas, emphasizing efficient use of space.
3. Who would this property be most suitable for?
It is best suited for a budget-conscious first-time buyer, an investor, or someone seeking a minimalist lifestyle. It is less suitable for families needing multiple bedrooms or those wanting a modern, turn-key home without renovation work.
4. The home sold in 2025 and 2018. What does that price history suggest?
The sold price ranges show a significant increase from the 2018 sale to the 2025 sale, indicating strong appreciation in this price segment over that period. For exact sold prices, you can request them via email from the site.
5. What are the main considerations regarding the basement and updates?
The basement is noted as "not renovated." Buyers should budget for potential updates to moisture management, insulation, and foundational elements, in addition to any desired cosmetic finishes. The mechanical systems (heating, plumbing, electrical) in a 1918 home also warrant a thorough inspection.