Property Overview

This bi-level home at 374 Ferry Road in Winnipeg's King Edward neighborhood presents a practical and modern living option. Built in 2016, it is a notably newer construction compared to most homes in the immediate area and across the city. With 1,078 sqft of living space, it offers above-average roominess for its street and neighborhood, though it sits on a smaller, urban-sized lot. The home features a basement but lacks a garage or pool. Its assessed value is above average for the local context.

Key Characteristics & Appeal

The primary appeal of this property lies in its modern build within an established neighborhood. Buyers gain the benefits of a newer home—likely requiring less immediate maintenance and featuring contemporary building standards—without being in a distant suburb. The living space is efficient and well-sized for the area, offering more room than many comparable nearby homes. However, the trade-off is a compact lot, which means minimal yard upkeep but limited private outdoor space.

This home would suit first-time buyers or downsizers seeking a low-maintenance, modern property in a central location. It’s ideal for those who prioritize the condition and age of the home itself over having a large yard or garage. The data suggests it offers good value within its specific locale, providing more modern amenities than typical for King Edward.

Frequently Asked Questions

1. How does the smaller lot size impact the property?
While the land area is below average, it translates to less yard work and lower exterior maintenance costs. It’s a practical fit for buyers not seeking extensive gardening or outdoor space.

2. What does the above-average assessed value for the neighborhood indicate?
It primarily reflects the home's newer construction (2016) compared to the neighborhood's older housing stock (average year built 1948-1958). This suggests potentially higher quality materials and systems, though property taxes will be influenced by this assessment.

3. Is the lack of a garage a significant drawback?
This depends on lifestyle. For those comfortable with street parking or willing to add a shed, it may not be an issue. It’s a common feature in older neighborhoods and is factored into the home’s pricing.

4. What can the 2016 sale price range tell me?
The initial sale price (24.5k-27.5k in 2016) provides a baseline for how the property's value has been established. Comparing it to the current assessed value gives a general sense of market movement, though an exact current market value requires a professional appraisal.

5. Who might the nearby similar-valued properties appeal to?
The listed properties with identical assessed values are in various neighborhoods. This suggests buyers considering this home might also be comparing options in different areas, weighing location versus specific home features. It highlights that 374 Ferry Road offers a central location and newer build at that value point.