Property Overview: 439 Ferry Road, Winnipeg
Key Characteristics & Appeal
This one-storey home on Ferry Road in the King Edward neighbourhood is defined by its modern foundation and strong value proposition within its immediate area. Built in 2022, it is a notably new construction in a neighbourhood of mostly older homes, ranking in the top 2-4% for its recent build year locally. With 1,027 sqft of living space, it offers above-average room for the street and neighbourhood. Its primary appeal lies in its move-in readiness, modern systems, and a recently renovated basement, all without the premium often associated with brand-new subdivisions.
The home’s assessed value of $38.5k stands out significantly on Ferry Road and in King Edward, ranking in the top 5-8%, indicating it is viewed as a higher-value property among its direct peers. This suggests quality finishes or desirable modern features for the area. The lot is modest, especially compared to the Winnipeg average, which translates to lower maintenance—a practical perk.
This property would suit a first-time buyer or downsizer seeking a modern, low-maintenance home in an established inner-city neighbourhood. It’s also a sensible fit for an investor looking for a newer, potentially more durable asset with a renovated basement for rental income. The appeal is practical: a contemporary home without the wait or high cost of a custom build, positioned in a community with mature character.
Frequently Asked Questions
1. Why is the assessed value so high compared to nearby homes?
The assessed value reflects the home’s new construction (2022) and renovated basement. In an area where most homes are decades older, modern builds with updated amenities are assessed at a premium due to their condition, systems, and expected lower maintenance costs.
2. What are the implications of the smaller lot size?
The lot is below average in size for both the neighbourhood and city. This means less yard maintenance, which is a benefit for those seeking simplicity. However, it also limits potential for large additions, pools, or extensive outdoor living spaces.
3. Is this a good investment compared to an older home on a bigger lot?
It depends on your priorities. This home offers modern efficiency and immediate livability, potentially saving on near-term repair costs. An older home on a larger lot might offer more long-term redevelopment potential but likely requires more upfront investment in updates.
4. The home sold in 2022 for roughly $40.5k-$43.5k. Why is the assessed value now $38.5k?
Assessed value for property tax purposes is an estimate of market value by the municipal assessor, often based on mass appraisal techniques and may not perfectly match a specific past or future sale price. It can also be influenced by broader market trends and comparable sales.
5. What is the neighbourhood (King Edward) like?
King Edward is an established, central Winnipeg neighbourhood. The home’s rankings show it is above average in size and value within this area, suggesting it is positioned in a desirable pocket. Prospective buyers should explore the specific street and nearby amenities to gauge fit.