Property Overview: 507 Ferry Road, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1948, offers a practical footprint with above-average space for its immediate area. With 1,237 sqft of living area and a renovated basement, it provides more room than many comparable homes in the King Edward neighbourhood and on Ferry Road itself. The lot is a notable feature at over 4,200 sqft, offering generous outdoor space that is less common for homes of this vintage in the city core.
The appeal lies in its established neighbourhood setting and its solid, relative value. The home consistently ranks above average for its street and neighbourhood in key metrics like living area and assessed value, suggesting it's a substantial property within its local context. It would suit a first-time buyer or a downsizer looking for a character home with a manageable size, a good lot, and the stability of an older, established community. The renovated basement adds functional living space, appealing to those needing a home office, family room, or flexible area without undertaking a major project.
Frequently Asked Questions
1. How does this home’s size compare to others nearby?
It is notably larger than many in the immediate area. Its living area ranks in the top 13% on Ferry Road and the top 12% in the King Edward neighbourhood, meaning it offers more interior space than most comparable homes nearby.
2. What is the significance of the assessed value?
The assessed value of $31,400k is above the average for both the street and the neighbourhood. This can indicate the property is viewed as a substantial asset relative to its peers, though market conditions and the home's specific condition are the ultimate determinants of sale price.
3. Is the lot size a major feature?
Yes. At 4,287 sqft, the lot is larger than most on Ferry Road (top 30%) and provides valuable outdoor space. This is a key advantage for gardening, recreation, or future expansion, especially in a core neighbourhood.
4. The home was built in 1948. What should I consider?
While the age is typical for the area, a pre-purchase inspection is essential to understand the condition of major systems (roof, wiring, plumbing) and any ongoing maintenance needs. The renovated basement is a positive update.
5. Where can I find the exact historical sale prices?
The listing service provides estimated sold price ranges from public data. To obtain the precise sale price history, you must request it directly from the listing agent or portal, which typically involves providing your email for a manual reply.