Property Overview: 355 Ferry Road, Winnipeg

Key Characteristics & Appeal

This two-storey home in King Edward is defined by its generous proportions, both in its living space and on its lot. With nearly 2,000 square feet of living area, it ranks within the top 1% of homes locally for size, offering significantly more interior room than most in the immediate area or neighbourhood. It sits on a lot that is also larger than average for the street and King Edward. While the basement exists, it is noted as being unrenovated, presenting a clear opportunity for future expansion or customization. The home’s assessed value is positioned as average for the local market, which, combined with its above-average physical attributes, suggests a property where you are paying primarily for space and location rather than high-end finishes. Built in 1962, it is a mature home that would appeal to buyers looking for a classic layout and the potential to add value through updates. This property is ideally suited for a practical buyer—perhaps a growing family or a long-term investor—who prioritizes square footage and lot size over move-in-ready perfection and sees the benefit in a home that offers a solid foundation to shape over time.

Frequently Asked Questions

1. What does "Elite — Top 1%" for living area actually mean?
It means this home's interior square footage is larger than 99% of comparable properties on Ferry Road and in the wider King Edward neighbourhood. You are getting a home that is exceptionally spacious for this specific area.

2. The assessed value seems low compared to the city-wide average. Why?
The city-wide average includes many newer suburbs and fully renovated homes. This assessment reflects the home's condition (including an unrenovated basement) and its location in an established, central neighbourhood. It indicates the price point is anchored to the local market rather than city-wide trends.

3. Is the unrenovated basement a major drawback?
It depends on your plans. It is a defining characteristic: it lowers the immediate move-in appeal and assessed value but provides a blank canvas. For a buyer willing to invest in renovations, it represents the single largest opportunity to increase the home's value and functionality.

4. How does the lot size benefit me?
The above-average lot for the area (over 5,300 sq ft) provides more outdoor space than most neighbouring properties. This allows for greater privacy, gardening potential, room for additions like a deck or garage, and simply more breathing room—a valuable asset in a central neighbourhood.

5. Who are the typical buyers in this area?
King Edward is an established, central neighbourhood. Buyers often value character, proximity to downtown and the river, and community stability over new construction. They tend to be practical, looking for good value and the potential to personalize a home over many years.