Property Overview
This two-storey home at 492 Ferry Road in Winnipeg's King Edward neighbourhood presents a distinct profile. Its primary appeal lies in being a well-above-average, modern property within its immediate context. Built in 2017, it is significantly newer than most homes on its street and in the wider area. With 1,292 sqft of living space and a notably high assessed value for King Edward, it offers modern comforts and space efficiency. The trade-off is a smaller land area (2,438 sqft), which is common for newer infill properties. This home would suit a buyer looking for a move-in ready, low-maintenance property without the concerns of an older home's major systems. It's ideal for those who prioritize interior space and modern construction over a large yard, and who see value in a home that stands out statistically in its neighbourhood for its newness and assessed worth.
Frequently Asked Questions
How does the smaller lot size impact the property?
While the land area is below average for the city, it is relatively typical for newer infill homes in established neighbourhoods. It means lower exterior maintenance but may limit extensive landscaping or expansion potential.
Why is the assessed value so high compared to nearby homes?
The assessed value ranks in the top 5% for the King Edward area, reflecting the home's modern build year (2017), its above-average living area, and current market valuations for turn-key properties, setting it apart from the neighbourhood's generally older housing stock.
Is the basement finished?
The listing specifies the basement exists but is "not renovated," indicating it is likely an unfinished space that offers storage or future development potential.
What does the sold price history indicate?
The home sold in June 2024 for an estimated $41.5k-$44.5k. This recent sale price, which aligns with its high assessed value, suggests a stable and strong valuation in the current market.
How does this home compare to an average Winnipeg property?
Citywide, its living area and assessed value are around the median, but its build year is in the elite top 5%. This highlights that its greatest advantage is its modernity compared to the city's overall older housing inventory.