Property Summary: 191 Ferry Road, Winnipeg
Section 1: Key Characteristics & Appeal
This home is a classic one-and-three-quarter storey character home in Bruce Park, built in 1913. Its primary appeal lies in its generous 5,421 sqft lot, which is notably larger than most on Ferry Road and in the wider area, offering significant outdoor space and potential. The living area of 1,192 sqft is spacious for the immediate street, and the home features a renovated basement and a detached garage.
The property suits buyers who value established neighbourhoods, larger lot sizes, and character homes, and who are comfortable with the maintenance and potential updates that come with a century-old structure. A thoughtful perspective is that while the home is older than nearly all its peers, this also means it predates many modern subdivision standards, contributing to its above-average lot size. Its assessed value is modest relative to the neighbourhood and city, which could appeal to those looking for a value position in a mature area, though it may also indicate a different valuation approach for historic homes.
Section 2: Frequently Asked Questions
1. How does the lot size compare practically?
The lot is in the top 10% on Ferry Road, meaning it's significantly larger than most direct neighbours, offering more privacy, yard space, or garden potential.
2. What should I consider with a home from 1913?
While it offers classic charm, prospective buyers should budget for potential updates to older mechanical systems, insulation, and windows, and are advised to seek a thorough inspection.
3. Why is the assessed value notably lower than the recent sale price?
The home sold for $230k in late 2022, but its assessed value is much lower. This is not uncommon; municipal assessments for tax purposes often lag behind market values and can be calculated differently, especially for unique, older properties.
4. Is the living space sufficient for a family?
At just under 1,200 sqft, the living area is above average for the street but around the neighbourhood average. The renovated basement adds functional space, making it suitable for a small to medium-sized family.
5. What does the "below average" year built ranking mean?
This statistical ranking simply confirms the home is older than most in its comparison groups. It doesn't speak to its condition, which is better reflected by the renovated basement and recent sale.