Property Overview: 327 Ferry Road, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1946, situated on a notably generous lot in the King Edward neighbourhood. Its primary appeal lies in the land itself—at over 5,300 sqft, the property offers significantly more outdoor space than most comparable homes on the street and in the area. This presents a substantial opportunity for gardening, expansion, or future development, making the land a key asset.
The house, at 749 sqft with an unrenovated basement, is functionally modest and would suit buyers comfortable with a project or seeking an affordable entry into the market. Its assessed value is consistent with the local area, suggesting a fair market price without premium for the structure. This property is ideally suited for a first-time buyer, an investor, or a hands-on owner who values potential over immediate move-in finish. The true value proposition is a balance of a manageable existing home paired with the long-term potential of its spacious lot.
Frequently Asked Questions
1. How does the lot size compare to others?
The 5,390 sqft lot is a standout feature. It ranks in the top 16% within the King Edward neighbourhood, offering significantly more space than the area average of about 3,800 sqft.
2. Is the house smaller than average?
Yes. With 749 sqft of living area, the home is below average for the street, neighbourhood, and city. It is a compact layout suited for a smaller household or someone comfortable with efficient living spaces.
3. What is the condition of the basement?
The listing specifies the basement exists but is "not renovated." Buyers should budget for potential updates and anticipate a space that requires work to finish or modernize.
4. How does the assessed value relate to recent sale prices?
The current assessed value is approximately $22,900. A nearby, similar-sized home at 306 Collegiate Street has a lower assessment, while a newer, larger home on the same street is assessed higher. The property last sold in early 2021 for an estimated range of $21,500-$24,500, closely aligning with its current assessment.
5. What type of neighbourhood is King Edward?
King Edward features homes with a wide range of sizes and eras, from early 1900s to new construction. This property, with its 1946 build date, sits around the neighbourhood's average for age, indicating a mature, established community with a mix of original and updated properties.