Property Overview & Key Characteristics
This one-storey home at 292 Ferry Road is a classic, compact property built in 1918. With 841 square feet of living space and a detached garage, it sits on a modest 2,488 sqft lot. Its assessed value is notably below average for Winnipeg, reflecting its size, age, and the fact the basement is not renovated.
The primary appeal lies in its position as an affordable entry point into the King Edward neighbourhood. It suits first-time homebuyers, investors, or downsizers seeking a lower-maintenance footprint without a major renovation project. A thoughtful perspective is that while the home is smaller and older than city averages, it is actually quite typical for its specific street and area, offering a genuine, unpretentious character home. The below-average costs for taxes and upkeep could free up budget for personalization over time.
Frequently Asked Questions
1. Is the basement finished or usable?
No, the listing specifies the basement is "not renovated." Buyers should budget for potential upgrades if finished living or storage space is needed.
2. How does the property's value compare to the area?
Its assessed value is below the average for King Edward and significantly below the Winnipeg city average, which is reflected in its ranking in the bottom ~30% locally.
3. What is the lot size, and are there expansion possibilities?
The lot is 2,488 sqft, which is smaller than most in the area. Any expansion or addition would require careful planning due to space constraints and should be verified with the city for zoning compliance.
4. The home sold in 2020; is that price relevant today?
The 2020 sale price provides historical context, but market conditions have changed. It's best used as a reference point alongside a current professional appraisal and recent comparable sales.
5. What are the immediate neighbours like?
The listing shows several nearby properties on Ferry Road are very close (8-23 meters away), suggesting a typical, closely-built streetscape for the area. Reviewing the nearby "reference" properties can give a sense of the architectural style and scale of homes in the immediate block.