Property Summary: 534 Ferry Road, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1948, presents a practical opportunity in Winnipeg's King Edward neighbourhood. Its primary appeal lies in a combination of above-average interior space and a generous lot for the area. With 1,147 sqft of living area, the home is notably larger than many comparable houses on Ferry Road and within King Edward. The land area of nearly 4,900 sqft is a significant asset, offering ample outdoor space that is well above the local average—a notable feature for gardening, recreation, or future expansion.
The home’s assessed value is positioned below average for both the street and the city, which may indicate an entry point for buyers comfortable with a property of this vintage. It suits first-time buyers or practical investors seeking a home with solid square footage and yard size in a central location, who are prepared for the maintenance and potential updates typical of a house from this era. A less obvious perspective is that the below-average assessment, coupled with the above-average physical attributes, could represent a value proposition if the condition is sound, as you're acquiring more house and land than is typical for the price point in this micro-market.
Frequently Asked Questions
1. What does the assessed value tell me about the property taxes?
The assessed value of $21,300 is a key municipal metric for calculating property taxes. This below-average assessment for the area suggests the annual tax burden may be relatively lower compared to homes with similar physical characteristics but higher assessments.
2. How does the living space compare to newer homes?
At 1,147 sqft, the living area is larger than the average for both the immediate street and the King Edward neighbourhood. However, it is smaller than the current city-wide average for homes, which is over 1,300 sqft. This means the home offers spaciousness for its local context but may have a more traditional room layout than modern open-concept designs.
3. Is the large lot a common feature here?
No, the lot size of 4,862 sqft is a standout feature. It ranks in the top 26% on Ferry Road and the top 22% in King Edward, meaning it is significantly larger than many neighbouring properties, offering more privacy and outdoor potential.
4. The home sold in 2016 and 2018. What does that history suggest?
The two sales within a short period could indicate previous investor activity or a quick turnover. Requesting the exact sale prices (available via the provided email service) would help clarify the property's recent market trajectory and stability.
5. What should I consider given the home's age?
Built in 1948, the home is of average age for its neighbourhood. Prospective buyers should prioritize a thorough inspection focusing on updates to major systems like wiring, plumbing, and heating, as well as the roof and foundation, to understand any needed investments.