Property Overview: 291 Ferry Road, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home, built in 1918, presents a straightforward and affordable entry point into Winnipeg’s King Edward neighbourhood. With 846 sqft of living space and a full (unrenovated) basement, it offers the essential framework of a classic character home. Its assessed value is notably below averages for both the immediate area and the wider city, indicating a potentially lower entry cost and property tax burden.
The appeal lies in its position as a practical canvas. For buyers comfortable with a project, the unrenovated basement and the home’s vintage offer the opportunity to add value through updates tailored to personal taste. The lot size, while modest compared to newer suburban areas, is typical for the street and provides manageable outdoor space. This property suits first-time buyers seeking a foothold in a central neighbourhood, hands-on investors looking for a value-add opportunity, or downsizers wanting a simple, single-level layout without a premium price tag. A less obvious perspective is its potential as a "land-value play" in an area where newer infill construction (like the nearby 308 Ferry Road, built in 2020) is appearing, suggesting the underlying location holds enduring desirability.
Section 2: Frequently Asked Questions
1. What is the actual likely selling price?
The assessed value is approximately $20,600, but market price is determined by current conditions. The last recorded sale was between $145,000-$175,000 in late 2019. For the exact historical sold price, you can request the information directly via the provided email service.
2. What does "below average" for assessed value in the area mean?
It means this home’s official assessed value is lower than most comparable properties on Ferry Road and in the King Edward neighbourhood. This often reflects the home’s condition, size, and lack of recent updates compared to peers, not necessarily its market value.
3. Who would be responsible for future renovations or updates?
The buyer. The listing notes the basement is unrenovated, and the home’s age suggests various systems (plumbing, electrical, etc.) may require inspection and potential updating. Any modernization would be at the new owner's discretion and expense.
4. How does the lot size compare?
At 2,698 sqft, the lot is slightly smaller than the average for King Edward but very typical for Ferry Road itself. It offers a standard urban yard for the area—manageable for maintenance but with room for a patio or garden.
5. Are there any garage or parking facilities?
No. The listing specifies there is no garage. Parking would be dependent on street availability, which is common for homes of this era in central neighbourhoods.