Property Overview & Key Characteristics

This two-storey home at 388 Ferry Road in Winnipeg's King Edward neighbourhood presents a compelling blend of modern convenience and established community. Built in 2012, it is a notably newer construction compared to most homes in the area, which typically date back to the mid-20th century. This suggests potentially lower maintenance costs and modern building standards.

The home's primary appeal lies in its efficient use of space and its strong standing within its immediate context. With 1,256 sqft of living space, it is comfortably above average for both Ferry Road and the King Edward neighbourhood. The renovated basement adds functional living area. Its assessed value consistently ranks in the top tiers locally, indicating a perception of solid value relative to nearby properties. The lot size of 4,341 sqft is generous for the street, offering good outdoor space.

This property would suit first-time buyers or downsizers seeking a relatively modern, low-maintenance home in an established inner-city neighbourhood without the uncertainties of a century-old structure. It's also a practical choice for value-conscious buyers who appreciate a home that performs well on key metrics (size, value, age) compared to its direct neighbours, even if it's more average in a city-wide context.

Frequently Asked Questions

1. How does this home's 2012 build date impact its value?
Being built in 2012 is a significant advantage in this neighbourhood. It means major systems (roof, wiring, plumbing, windows) are likely in good condition, offering years of service before costly replacements are needed, unlike many older area homes.

2. The assessed value seems low compared to national averages. Is this accurate?
Yes, the assessed value reflects local Winnipeg market conditions. The key takeaway is not the absolute number, but that it consistently ranks in the top 9-17% within King Edward and on Ferry Road, signaling it is considered a higher-value property in its immediate market.

3. What does the sold price history tell us?
The home sold in 2017 and again in 2022, showing a clear increase in value over that five-year period. This trajectory suggests the property has held and grown in value in recent years.

4. There's no garage. Is parking an issue?
The property listing does not mention a garage, which is common for many homes in older neighbourhoods. Buyers should investigate on-street parking permits or the potential to create a dedicated parking pad on the sizable lot.

5. The living area is above average for the street, but average city-wide. What does this mean?
This highlights the importance of context. The home offers more interior space than most in its immediate area, which is a local advantage. City-wide, it's a comfortably sized but not exceptionally large home, aligning with practical, efficient living rather than sheer square footage.