Property Overview: 205 Ferndale Avenue, Norwood West
Key Characteristics & Appeal
This 1927 home in Norwood West presents a practical, lower-footprint option in a well-established neighbourhood. At 900 sqft of living space, it is notably more compact than most homes on its street and in the wider area, which typically average around 1,400 sqft. This smaller scale is reflected in its assessed value of $365k, which sits below the local area average but aligns closely with the Winnipeg-wide typical value.
The appeal lies in its efficiency and position within a mature community. The lot, while smaller than area norms at 4,199 sqft, offers manageable outdoor space. Its recent sale history (last sold in the $250k-$300k range in 2022) suggests it has served as a relatively accessible entry point into the market. This property would best suit first-time buyers or downsizers seeking a lower-maintenance home without leaving a central neighbourhood. It’s a pragmatic choice for those prioritizing location and affordability over square footage, offering a chance to own a character home with the understanding that its size is well below the neighbourhood standard.
Frequently Asked Questions
1. Is this home significantly smaller than its neighbours?
Yes. With 900 sqft of living area, it ranks in the bottom 10% for size on Ferndale Avenue itself and is about 500 sqft smaller than the local average, indicating a notably compact layout.
2. How does its value compare to the area?
Its $365k assessed value is below the Norwood West average ($426k) but very close to the city-wide average ($390k). This suggests you are paying for the location within a desirable area, but the price is adjusted for the home's smaller scale.
3. What does the sold price history indicate?
It last sold between $250k and $300k in May 2022. This recent sale supports its role as a more affordable option in the area, though market conditions have likely shifted since.
4. Is the lot size a drawback?
The 4,199 sqft lot is smaller than about 80% of lots in Norwood West. This means less yard maintenance but also less private outdoor space compared to most area homes.
5. Are homes from 1927 a concern?
The age (99 years) is typical for Norwood West, where many homes were built in the 1920s-30s. While this offers character, it necessitates a thorough inspection to understand the condition of original systems and any updates made over time.