Property Overview
This home at 415 Ferry Road is a modern, two-storey residence built in 2023, offering a turn-key living experience in Winnipeg's King Edward neighbourhood. Its primary appeal lies in its combination of new construction and a highly efficient, above-average living space. With 1,407 sqft of living area, it significantly outperforms the typical home in its immediate area and sits comfortably above the citywide average. The recently renovated basement adds functional space. While the lot size is more compact compared to many city homes, this translates to lower maintenance and positions the property as a smart, modern alternative to the neighbourhood's predominantly century-old housing stock. It suits buyers seeking a newer build without leaving the established city core, particularly those who value move-in readiness, modern amenities, and efficient use of space over a large yard.
Key Details & FAQs
Key Characteristics & Appeal
- Modern & Efficient: Built in 2023, this is a notably new home for the area, offering contemporary construction, systems, and a renovated basement. Its living space is in the top 5% for the King Edward neighbourhood, providing ample room in a well-designed footprint.
- Established Neighbourhood: It offers the convenience and character of a mature core neighbourhood without the typical maintenance concerns of an older house.
- Ideal For: First-time homeowners or downsizers wanting a low-maintenance, modern property in the city. It's also a strong fit for investors or buyers looking for a newer asset in a neighbourhood where most properties are much older, as reflected in its "Elite" rankings for year built and assessed value locally.
Frequently Asked Questions
1. How does the lot size impact the property?
The land area is smaller than the average Winnipeg lot. This means less yard maintenance, but also less private outdoor space. The appeal here is the efficient, modern home on a manageable plot, not expansive grounds.
2. The assessed value seems low compared to the sold price. Why?
The assessed value (used for property tax calculation) is often lower than market value, especially for a very recent sale. The sold price from late 2024 reflects the actual market value buyers were willing to pay for this specific, nearly new home.
3. What does the "Elite" ranking for Year Built mean?
This statistical ranking highlights that a home built in 2023 is exceptionally rare in this context. On Ferry Road and in King Edward, you are among the newest, if not the newest, properties, which is a significant differentiator.
4. Is there parking or a garage?
The listing indicates no garage. Prospective buyers should investigate on-street parking regulations or the potential for a driveway on the compact lot.
5. What are the property taxes likely to be?
Taxes are based on the assessed value ($44,400) and the City's mill rate. While the assessed value is low, the recent sale at a significantly higher price may affect future assessment cycles. It's advisable to contact the City for the most current tax estimate.