Property Overview: 290 Ferry Road, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home, built in 1918, presents a practical opportunity in Winnipeg's King Edward neighbourhood. Its primary appeal lies in a value-oriented proposition, centered on a generous 4,977 sqft lot that is significantly larger than most in the immediate area. The home itself is modest in size at 716 sqft, with a renovated basement adding functional living space. With no garage or pool, the offering is straightforward.
The property suits first-time buyers, downsizers, or investors seeking an entry point into the market with land potential. Its assessed value sits below area averages, suggesting a relatively lower property tax burden. A thoughtful perspective for the right buyer is viewing the home as a comfortable living space on a substantial lot, where future expansion or landscaping projects are more feasible than on typical neighbouring parcels. It’s a home that prioritizes land over lavish living space, appealing to those who value outdoor potential and a simpler footprint.
Section 2: Frequently Asked Questions
1. How does the home’s size compare to the neighbourhood?
At 716 sqft of living area, the house is smaller than most comparable homes on Ferry Road and in the King Edward area, where averages are around 950 sqft. This is reflected in its below-average assessed value.
2. What is the standout feature of this property?
The lot size is the key feature. At nearly 5,000 sqft, it ranks in the top 22% on its street and top 21% in the neighbourhood for land area, offering more outdoor space than is typical for the area.
3. What should I know about the home’s age and condition?
The home was built in 1918, which is around average for the street but older than the city-wide average. The listing notes a renovated basement, but the age suggests potential buyers should budget for ongoing maintenance typical of a century-old structure.
4. How does the assessed value inform the asking price?
The assessed value is approximately $20,500, which is below the local averages for similar homes. This can indicate a potentially lower purchase price and property taxes, but the final sale price will be determined by the market.
5. Are recent sale prices available for this exact address?
Yes. The property sold in August 2019 for an estimated range of $18.5k to $21.5k. For the precise historical sale price, you can request the information directly via the provided email service on the listing page.