Property Overview: 408 Ferry Road, Winnipeg
Key Characteristics & Appeal
This two-storey home at 408 Ferry Road is a modern residence built in 2024, offering a move-in-ready opportunity in Winnipeg's King Edward neighbourhood. Its primary appeal lies in its new construction status and above-average interior space. With 1,356 sqft of living area, it ranks within the top 7% of homes in the local area for size, providing more room than most nearby comparables. The home features a renovated basement, adding to its functional space.
The property stands out for its elite assessed value ranking within its immediate vicinity, indicating it is perceived as a premium offering on its street and in the neighbourhood. This suggests high-quality finishes and modern systems. However, the lot size is notably smaller than area averages, which is a typical trade-off for newer infill construction in established areas.
This home would best suit buyers looking for a modern, low-maintenance property without the wait of a build, and who prioritize interior space and contemporary amenities over a large yard. It’s ideal for professionals, small families, or downsizers seeking a new home in a central location without sacrificing square footage.
Frequently Asked Questions
1. How does the lot size impact the property?
While the home itself is spacious, the lot is smaller than most in the area. This means lower outdoor maintenance but limited private yard space. The value is squarely in the building itself.
2. Why is the assessed value so high compared to nearby sold prices?
The assessed value reflects the property's new construction status, modern materials, and current market valuation for the structure itself. The older, smaller homes that have recently sold nearby are not direct comparables, as they represent the value of the land plus an older home, often purchased for redevelopment.
3. What are the benefits of a home built in 2024?
You benefit from modern building codes, energy efficiency, new appliances, and contemporary electrical and plumbing systems. It also likely comes with builder warranties, offering peace of mind against major repairs in the immediate future.
4. Is the renovated basement a legal suite?
The listing states the basement is renovated but does not specify it as a legal secondary suite. Buyers should verify its permitted use with the city if considering a rental income opportunity.
5. What is the neighbourhood character like?
King Edward is an established, central neighbourhood. A brand-new home like this on a street with older properties offers modern comfort but may have a different aesthetic and scale than its neighbours. This can be appealing for those wanting a new home in a mature, tree-lined area.