Property Overview: 387 Ferry Road, Winnipeg

Section 1: Key Characteristics & Appeal

This bi-level home at 387 Ferry Road presents a practical and modern opportunity in Winnipeg's King Edward neighbourhood. Its key characteristic is its contemporary build date (2011), making it significantly newer than most homes on the street and across the city. The home features a renovated basement and a functional 848 sqft living space, which is very typical for the immediate area. The lot size is modest, particularly when compared to wider city averages, suggesting a lower-maintenance yard.

The appeal lies in its relative modernity within an established area. Buyers gain a home that likely requires fewer immediate updates compared to the neighbourhood's older housing stock. Its assessed value ranks above average for both the street and King Edward, indicating perceived stability, yet it sits below the city-wide average for assessed value, suggesting a more accessible price point within Winnipeg.

This property would best suit first-time buyers or downsizers seeking a modern, low-maintenance home without leaving a central neighbourhood. It’s for those who prioritize a newer building envelope and interior systems over larger square footage or expansive outdoor space. A thoughtful perspective is that while the living area is compact, its efficient bi-level layout and renovated basement may offer flexible space that isn't fully captured by the raw square footage.

Section 2: Frequently Asked Questions

1. How does the 2011 build date impact this home?
It means major components like the roof, windows, furnace, and electrical are relatively young, potentially reducing near-term repair costs and offering greater energy efficiency than the neighbourhood's older, character homes.

2. Is the living space sufficient for a small family?
At 848 sqft, the living area is compact. The bi-level design with a renovated basement does create distinct living zones, but families should carefully consider their space needs. It is very comparable to the average home size in King Edward.

3. What does the "above average" assessed value for the street indicate?
It suggests the property is valued more highly than many on Ferry Road, which can be a sign of its newer condition or desirable updates. It doesn't directly set the market price, but it often correlates with stronger market value.

4. What are the trade-offs of the smaller lot size?
The 2,690 sqft lot requires less upkeep, which is a benefit for those seeking low maintenance. The trade-off is limited private outdoor space for gardening, play, or entertaining compared to many city lots.

5. How does this home compare to Winnipeg overall?
It offers a newer build at a likely more accessible price point than the city-wide average, as its assessed value is below the Winnipeg norm. The trade-off is less living space and a smaller lot than the typical Winnipeg home.