Property Overview: 406 Ferry Road, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 2024, is a modern offering in Winnipeg's King Edward neighbourhood. Its primary appeal lies in its new construction, providing move-in readiness with a renovated basement and freedom from major immediate repairs. At 1,356 sqft, the living space is notably above average for both the immediate street and the broader area.
The data reveals a compelling contrast: while the lot size is compact relative to city and neighbourhood norms, the property excels in its assessed value rankings, placing in the top 3% on its street and top 2% in King Edward. This suggests a premium is placed on the home's newness and condition over land size. It recently sold in late 2024 for a price significantly higher than its previous 2021 sale, indicating strong perceived value growth.
This home would suit buyers prioritizing modern builds, low maintenance, and efficient use of interior space over a large yard. It’s a practical choice for professionals, small families, or investors seeking a newer property in an established area without the footprint or upkeep of a larger lot.
Frequently Asked Questions
1. What does the high assessed value ranking actually mean?
It indicates that, compared to similar homes on Ferry Road and in King Edward, this property is officially valued in the elite top 2-3%. This is primarily driven by its new construction (2024) and above-average living area, offsetting its smaller lot size.
2. Is the compact lot a disadvantage?
It depends on your lifestyle. The lot is smaller than typical for the city, which means less outdoor maintenance but also limited private yard space. The trade-off is a modern, spacious interior on a more manageable property.
3. Why did the sale price increase so much between 2021 and 2024?
The 2021 sale likely reflected the value of the vacant lot or early construction phase. The late 2024 sale price represents the completed, new home, explaining the significant jump. This pattern is common for new builds.
4. What is the neighbourhood like?
King Edward is an established, central neighbourhood. The property's immediate context on Ferry Road consists of mixed-vintage homes, with this house being the newest by a significant margin according to the data.
5. Are there any obvious drawbacks?
The home has no garage, which is a consideration for vehicle storage or workshop space. The lot is also narrower and deeper than some, influencing backyard privacy and layout potential.