Property Overview: 165 Ferndale Avenue, Norwood West, Winnipeg
Key Characteristics & Appeal
This home presents a compelling mix of established value and practical considerations. Its primary appeal lies in its strong assessed value of $472k, which sits well above averages for the street, neighborhood, and city. This suggests a property that is well-regarded relative to its peers. Built in 1941, it is a newer construction compared to many on its street, potentially implying updates or a different architectural era than immediate neighbors.
The living space of 1,149 sqft is more compact than others on Ferndale Avenue and in Norwood West, but aligns closely with the Winnipeg average. This creates an efficient footprint that may suit those looking to minimize upkeep without sacrificing city-typical space. The lot size of 3,958 sqft is notably smaller than surrounding averages, which translates to less yard maintenance but also less private outdoor space.
This property would suit value-conscious buyers who prioritize a home with above-average assessed valuation in a mature neighborhood. It's ideal for those seeking a manageable, efficient home without the upkeep of a larger lot or an older structure, and who see the trade-off of a smaller yard as a benefit rather than a drawback. The historical sale price range ($550k-$600k in 2022) indicates it has commanded a premium in the recent market.
Frequently Asked Questions
1. Why is the assessed value above average while the living and land area are below average?
Assessed value reflects more than just size. It incorporates the home's condition, improvements, specific location on the street, and market factors. The higher valuation here suggests attributes not captured in square footage, such as updates, layout, or desirability within the immediate block.
2. What does the 2022 sale price tell us about the current market value?
The sale price of $550k-$600k two years ago placed the home in the top 10-15% of the market at that time. It serves as a strong historical data point, but current value will be influenced by market changes, any further improvements made since 2022, and present-day comparable sales.
3. How significant is the smaller lot size?
The lot is approximately 30% smaller than the street average. This means significantly less lawn and garden maintenance, which is a plus for many. However, it also limits potential for expansions like large additions, pools, or extensive landscaping. It's a practical lot for those focused on the home itself.
4. The home is newer than most on the street. What are the implications?
Being built in 1941, it is over a decade newer than the street average (1929). This could mean construction methods or materials from a different period, potentially with floor plans that feel more modern to some buyers. It may also suggest different maintenance and replacement timelines for major components compared to neighboring homes.
5. How can I get the exact historical sold price?
The site provides sold price ranges for reference. Due to industry data rules, exact sale figures are not publicly displayed online here. You can request the exact sold price history via email from the site provider, who will manually look up and send the verified information.