Property Overview: 392 Ferry Road, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1916, presents a classic character property in Winnipeg's King Edward neighbourhood. With 1,044 sqft of living space, it offers above-average roominess for both its immediate street and local area, though it sits on a modest, typically city-sized lot. Key features include a detached garage and an unrenovated basement, indicating potential for customization.
The primary appeal lies in its position as a relatively spacious home within its historic community, offered at a very accessible price point, as reflected in its assessed value. It suits practical, value-conscious buyers—such as first-time homeowners, investors, or downsizers—who are comfortable with a home of this vintage and see potential in its existing structure. A thoughtful perspective is that its "below average" land area and assessed value citywide are not drawbacks here, but rather define its niche: it offers the essence of a single-family home without the premium price tag of a larger lot, making homeownership attainable in a established neighbourhood.
Section 2: Frequently Asked Questions
1. What does the "above average" living area ranking mean?
Compared to similar homes on Ferry Road and in the King Edward area, this home's living space is in the top 30% for size. It provides more interior room than many of its direct peers.
2. Why is the assessed value so much lower than the citywide average?
The citywide average includes all property types and newer, larger homes across Winnipeg. This home's assessed value is typical for its specific locale and older, more modest character, which is reflected in its "around average" ranking for the street and neighbourhood.
3. What should I know about a home built in 1916?
Buyers should anticipate the charm and potential upkeep of a 110-year-old structure. This includes the possibility of older mechanical systems, materials, and layout. The unrenovated basement is a clear canvas but may require addressing foundational or moisture concerns common to homes of this era.
4. How does the lot size impact the property?
The lot is smaller than many in the city. This means lower maintenance but also limited space for extensive additions, landscaping, or outdoor recreation. It emphasizes the home itself and a efficient use of outdoor space.
5. Who would this property not suit?
It may not be ideal for buyers seeking a modern, move-in-ready home without projects, those requiring extensive yard space, or anyone hesitant about the maintenance and potential upgrade costs associated with a century-old home.