Property Overview: 319 Ferry Road, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on Ferry Road in King Edward is a compact, historically grounded property built in 1918. Its key characteristic is its modest scale, with 680 sqft of living space and a recently renovated basement, sitting on a roughly 2,700 sqft lot. The appeal lies in its affordability and efficiency, underscored by a low municipal assessed value. It represents a straightforward entry point into the Winnipeg market, particularly for those who prioritize financial accessibility over square footage.
The home would suit first-time buyers, downsizers, or pragmatic investors seeking a low-cost holding with renovation potential. Its smaller size and lot offer manageable upkeep and lower utility costs. A less obvious perspective is that its age and established neighbourhood location may offer a sense of character and stability not found in newer, more peripheral subdivisions, despite the home itself being below average in size and value for the city.
Section 2: Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing confirms the basement is renovated, but specifics on finish quality, ceiling height, legal compliance, or moisture control are not provided. This would be a key area for inspection and inquiry.
2. Why is the assessed value so much lower than recent sale prices?
Municipal assessed values for taxation often lag behind market sale prices. The home's assessed value is approximately $18,700, but it sold in late 2023 for an estimated $20,500–$23,500, indicating market value is higher.
3. How does the smaller lot size impact potential use?
At 2,696 sqft, the lot is below the neighbourhood and city averages. This limits potential for large additions, detached structures, or extensive landscaping, but simplifies maintenance.
4. What are the implications of the home's age (1918)?
While the structure is over a century old, the systems (roof, wiring, plumbing, insulation) and their updates are the critical factors. Its age suggests potential for charm but also underscores the need for a thorough inspection.
5. How does parking work with no garage?
The property has no garage. Parking is likely on-street or via a driveway if one exists, which is not specified. Confirming reliable, convenient parking is essential.