Property Summary: 236 Ferry Road, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1913, situated on a standard 2,500 sqft lot in the King Edward neighbourhood. With 828 sqft of living space, it offers the essentials without excess. The home presents a clear value proposition: its assessed value is notably below averages for the street, neighbourhood, and city, suggesting a lower entry point. The basement exists but is unrenovated, and there is no garage or pool.
The primary appeal lies in its affordability and location within an established community. It suits a specific type of buyer: first-time purchasers or investors seeking a straightforward, low-cost footprint in Winnipeg. It’s a practical canvas—the below-average valuation against peers could indicate room for equity growth through updates, but it requires a buyer comfortable with an older home’s needs. A less obvious perspective is that its smaller scale and lot size translate to lower maintenance costs and less upkeep, which can be a significant hidden benefit over time. This isn’t a luxury property; it’s a grounded, functional starting point.
Frequently Asked Questions
1. What does the below-average assessed value actually mean?
It indicates the city’s valuation for tax purposes is significantly lower than many comparable homes. This often correlates with a lower purchase price and property taxes, but it can also reflect the home’s age, condition, or smaller size relative to the market.
2. Is the unrenovated basement finished or usable?
The listing specifies it is "not renovated." This typically means it is in a rough, unfinished state, suitable for storage or mechanical systems but not designed as living space without significant investment.
3. What are the implications of a 1913 build year?
Homes of this age possess character but require diligent attention to aging components like wiring, plumbing, and insulation. A thorough inspection is essential to understand the modernized condition and any needed repairs.
4. Who would this property not suit?
It would likely not suit buyers looking for move-in-ready, modern finishes, or those needing multiple bedrooms, abundant space, or garage parking. It’s geared toward those willing to accept a project or a very modest living arrangement.
5. How does the land size affect future potential?
At 2,500 sqft, the lot is smaller than many in the city. This limits possibilities for large additions or detached structures but is consistent with the neighbourhood’s older, closer-built homes. The potential is more about improving the existing footprint than expanding it.