Property Overview: 474 Ferry Road, Winnipeg

Section 1: Key Characteristics & Appeal

This property at 474 Ferry Road in Winnipeg's King Edward neighbourhood presents a unique opportunity centred on its land value and future potential. The standout feature is the lot itself—at 2,444 sqft, it ranks in the top 8% for size on its street, offering a generous footprint in a mature area. The home’s assessed value is notably low compared to nearby properties, including both historic homes and new builds, which suggests the primary value lies in the land rather than the existing structure.

Its appeal is for the visionary buyer or investor. It perfectly suits someone looking for a blank canvas, whether for a custom new build, a substantial renovation, or a strategic hold in a neighbourhood that shows a clear mix of established homes and recent, higher-value developments. This isn't a move-in-ready home; it's a foundation for a project. A less obvious perspective is its potential for multi-generational living or a flexible live-work setup, given the lot size and the evolving character of the surrounding blocks, which include properties built from 1912 up to 2023.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than neighbouring properties?
The significantly lower assessment strongly indicates that the existing structure may be very modest, potentially requiring major updates or complete redevelopment, placing the property's value almost entirely in the land.

2. What type of project would this property be best for?
It is ideally suited for a new construction project or a total gut renovation. The lot size provides flexibility that many infill properties do not, allowing for a larger footprint or more creative design.

3. What is the King Edward neighbourhood like?
King Edward is a mature, established neighbourhood with a diverse streetscape, featuring a mix of century-old character homes and modern infill developments, suggesting an area in transition with rising property values.

4. Are utilities and services available to the lot?
Given the home's address on an established street, all municipal services (water, sewer, gas, electricity) are almost certainly available at the lot line, but any new build would require proper connections and permits.

5. How does the lot size compare to typical Winnipeg lots?
At 2,444 sqft, this lot is substantially larger than many standard city lots, ranking in the top 3% across Winnipeg. This provides more outdoor space and design options than most infill opportunities.