Property Overview: 250 Ferry Road, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey character home built in 1918, situated on a standard city lot in the King Edward neighbourhood. Its key features include a renovated basement and a detached garage. At 740 sqft, the living space is notably smaller than most homes in Winnipeg, placing it in the top 94% citywide (meaning 94% of homes are larger). This creates a distinct profile: a home with a very low assessed value that is efficient and manageable.
The appeal lies in its position as a true entry-point into homeownership or a strategic investment. It suits buyers with a clear vision, such as first-time purchasers seeking minimal upkeep, downsizers looking to rightsize without the burden of a large property, or investors interested in a rental property with a low entry cost. Its renovated basement adds functional space, which is a significant asset in a smaller home. A thoughtful perspective is that its modest size and value make it somewhat insulated from broader market volatility, representing a practical asset rather than a speculative one. It’s a home for those who prioritize location, simplicity, and financial pragmatism over square footage.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
The assessed value reflects the home's relatively small size (740 sqft) and age compared to the broader Winnipeg market, where the average home is significantly larger. It is assessed in line with similar, smaller properties in its immediate area.
2. What does the "top 94%" ranking for living area mean?
This statistic means that 94% of homes in Winnipeg have a larger living area than this property. It highlights that this is a notably compact home, which translates to lower utility costs and less maintenance but requires efficient use of space.
3. Is the renovated basement included in the living area square footage?
Typically, finished basement space is not included in the official living area (above-grade) calculation. The 740 sqft likely refers to the main floor, with the renovated basement providing additional functional space.
4. Who would this property not be well-suited for?
It may not suit growing families needing multiple bedrooms or those who desire ample indoor living and storage space. The smaller footprint requires a mindful approach to possessions and layout.
5. How can I get the exact historical sold prices?
Exact sold prices are provided upon request via email. This manual process ensures accuracy from verified data, with a commitment to respond by the end of the same business day without using your email for unsolicited marketing.