Property Overview: 303 Ferry Road, Winnipeg
Key Characteristics & Appeal
This bi-level home at 303 Ferry Road in the King Edward neighbourhood is a modern offering in an area of primarily older homes. Built in 2021, its key characteristic is its new construction, placing it in the top 3% of homes in the neighbourhood for age. With 935 sqft of living space and a renovated basement, it offers a low-maintenance, move-in-ready footprint. The property includes a detached garage.
Its appeal lies in its statistical standout: a significantly above-average assessed value for both its street and neighbourhood, suggesting it is perceived as a higher-quality asset in its immediate context. This presents a unique proposition—a newer home with modern systems and finishes within a well-established community. The lot is modest, especially compared to the city-wide average, which translates to less yard upkeep.
This home would suit a first-time buyer or downsizer seeking a modern, efficient property without the concerns of an older home’s upkeep. It’s also a pragmatic choice for an investor looking for a newer rental property in a central Winnipeg neighbourhood, likely appealing to tenants wanting updated amenities.
Frequently Asked Questions
1. Why is the assessed value so much higher than neighbouring older homes?
The assessment reflects the property's new construction (2021), which includes modern building materials, systems, and a renovated basement, all contributing to a higher valuation than the neighbourhood's older housing stock.
2. Is the living space sufficient for a family?
At 935 sqft, the living area is average for King Edward but below the city-wide average. It is a efficient layout best suited for individuals, couples, or small families. The renovated basement provides additional flexible space.
3. What are the implications of the smaller lot size?
The land area is below average for the neighbourhood and city. This means lower maintenance and less outdoor work, but also limited space for expansions, large gardens, or extensive outdoor recreation.
4. How does the recent sale history inform the current value?
The home sold in 2021 in the $33.5k-$36.5k range. Its current assessed value of $35.60k aligns with that sale, indicating stable value retention in its market segment.
5. What is the neighbourhood context for a home this new?
King Edward is characterized by homes averaging 60+ years older. This property offers a rare, modern living experience in a mature neighbourhood, potentially offering the best of both worlds: new-home convenience within an established community fabric.