Property Overview: 384 Ferry Road, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home, built in 1918, presents a straightforward opportunity in Winnipeg's King Edward neighbourhood. Its primary appeal lies in its value proposition and lot size. With a living area of 982 sq ft and an unrenovated basement, the home itself is modest and would benefit from updates. However, it sits on a notably larger-than-average lot for the immediate area (4,639 sq ft), offering valuable outdoor space and future potential that many nearby properties lack.

The home’s assessed value is significantly below averages for the street, neighbourhood, and city, indicating a lower entry point. This combination—a lower-priced home on a generous lot—creates a distinct profile. It would suit a practical, value-oriented buyer such as a first-time homeowner comfortable with a project, an investor looking for a land-hold opportunity, or someone seeking to build equity through gradual improvements. Its charm is not in immediate move-in readiness, but in its foundational assets: location, lot size, and a price point that allows room for customization.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
Assessed value is not market value. This assessment reflects the home's age, condition, and smaller living space relative to the city's much larger, newer housing stock. It primarily influences property taxes, which are likely correspondingly lower.

2. What does "unrenovated basement" typically imply for a house of this age?
For a 1918 home, it often means a classic, low-ceilinged cellar space with original foundations and mechanicals. It’s functional for storage and utilities but would require significant investment to be finished as living space, including potential moisture management and code updates.

3. The lot is larger than average for the street. What are the advantages?
Beyond more private outdoor space, a larger lot provides flexibility for additions, landscaping, gardening, or future detached structures like a garage or shed, subject to zoning bylaws. It’s a long-term asset that similar-priced homes in the area may not offer.

4. Who would be the most likely type of neighbour here?
Given the mix of older, modest homes and the area's affordability, you can expect a stable community of long-term residents and other value-conscious homeowners. The nearby similar assessments suggest a mix of small single-family homes and some multi-unit buildings.

5. How reliable are the sold price ranges shown from 2021?
These ranges are derived from public data and provide a general benchmark. For precise historical sale prices to inform your offer, you should request the exact figures directly, as the range can span a significant amount.