Property Overview: 3512 Ferrier Street, Winnipeg

Key Characteristics & Appeal

This property at 3512 Ferrier Street in the Rosser-Old Kildonan neighbourhood presents a unique opportunity defined by its land value and location. The primary asset is a sizable 2,025 sqft lot, which ranks very well compared to most properties in Winnipeg. While specific details on the building itself (like living area, year built, and features such as a basement or garage) are not provided, the assessed value is notably low at $10,800. This suggests the existing structure may be minimal, in need of significant renovation, or could be considered a prime candidate for redevelopment.

Its appeal lies in its potential. For the right buyer, it represents a blank canvas or a strategic land purchase in an established neighbourhood. The lot size offers flexibility for building a new home, expanding, or creating ample outdoor space. It would best suit investors, builders, or hands-on buyers looking for a project property where the value is in the land itself, not the current improvements. It’s a practical choice for those with the vision and means to develop or substantially renovate, rather than someone seeking a move-in-ready home.

Frequently Asked Questions

1. Why is the assessed value so much lower than nearby properties?
A significantly low assessment typically indicates that the municipal valuation is based largely on the land value, with the existing structures adding little to no value. This often points to a home that may be older, smaller, or in need of major repairs compared to others in the area.

2. What does the lot size ranking mean for me?
Ranking in the top 1% in Winnipeg for lot size means this property offers more land than the vast majority of city lots. This is a key advantage for privacy, outdoor activities, gardening, or future expansion, and is a finite resource in established neighbourhoods.

3. Who would this property not be suitable for?
This is likely not a fit for first-time buyers needing a turn-key home, those unwilling to manage a major renovation or construction project, or anyone needing immediate occupancy without significant upfront work and investment.

4. Are the nearby properties with similar assessed values comparable?
They may be comparable in municipal valuation, which often signals similar property conditions (e.g., land-value scenarios). However, lot size, specific location, and neighbourhood dynamics can vary, so a direct comparison requires a physical inspection and deeper research.

5. What should be my first step if I'm interested?
Given the data suggests a project property, the essential first steps are a thorough in-person inspection to understand the condition of any existing structures and consultations with the city planning department to understand zoning bylaws, building permits, and any potential for development or subdivision.