Property Overview: 494 Ferry Road, Winnipeg
Key Characteristics & Appeal
This two-storey home, built in 2017, offers modern living in Winnipeg's King Edward neighbourhood. Its primary appeal lies in being a newer, low-maintenance property with above-average interior space for its immediate area. At 1,294 sqft, the living area ranks in the top 10% for both the street and the neighbourhood, suggesting a comfortable size compared to many older, smaller surrounding homes. The home features a renovated basement and a detached garage.
The property presents a compelling value profile. Its assessed value is in the elite top 5% on Ferry Road and top 3% in King Edward, indicating it is considered a premium property within these local contexts. However, it’s important to note the land area is compact at 2,438 sqft, which is below average for the city. This creates a specific dynamic: you are acquiring a modern, sizable home on a smaller lot, which translates to less yard upkeep but also less private outdoor space.
This home would suit buyers seeking a move-in-ready, modern build without the premium often attached to brand-new constructions. It’s ideal for professionals, small families, or downsizers who prioritize interior space and contemporary features over a large garden. The buyer should be comfortable with the density typical of older, established neighbourhoods where lot sizes are often modest.
Frequently Asked Questions
1. Why is the assessed value so high relative to the area average?
The assessed value reflects the property's modern build year (2017) and its above-average living area for the neighbourhood. Essentially, it's a newer, larger home compared to many older, smaller properties on the street, which justifies its premium valuation within the local market.
2. What does the "below average" land area ranking mean practically?
The lot is approximately 2,438 sqft, which is smaller than most homes in Winnipeg. Practically, this means a more manageable yard for maintenance but limited space for extensive landscaping, large outdoor gatherings, or future expansions like a sizable deck or addition.
3. How does the sold price history work?
The listed sold price is an estimated range based on public data. To obtain the exact sale price from October 2024, you must request it via email from the site. They provide this detail manually and state they will not use your email for unsolicited marketing.
4. What is the neighbourhood like?
The home is in King Edward, a central Winnipeg neighbourhood. The high density of nearby properties on Ferry Road (as seen in the list of addresses a few meters apart) suggests a streetscape of closely situated homes, typical of established inner-city areas.
5. Are there any obvious trade-offs with this property?
The data suggests a key trade-off: you gain a modern, spacious interior and a premium assessment in the local context, but on a compact urban lot. It’s a balance between a contemporary home and the lot size typical of an older neighbourhood.