Property Overview & Key Characteristics
428 Ferry Road is a compact, one-storey home with a renovated basement and a detached garage, situated on a standard-sized lot in Winnipeg's King Edward neighbourhood. Built in 1955, its key appeal lies in its position as a solid, no-frills entry point into the market. The home's living space (776 sq ft) is modest, placing it below the citywide average, but its assessed value is very reasonable and aligns closely with the averages for its immediate street and neighbourhood. This suggests it is priced appropriately within its local context, not carrying a premium for size or luxury, but rather for its location and lot.
The property would suit first-time buyers, downsizers, or practical investors looking for a straightforward, lower-maintenance home in an established area. Its renovated basement adds functional living space, a valuable asset in a smaller footprint home. A thoughtful perspective is that while the home ranks below average in size citywide, it is very typical for its specific community, offering a chance to own a manageable property without the overhead of a larger, more expensive modern home. Its value is in its practicality and location, not in expansive square footage.
Frequently Asked Questions
1. Is the house too small?
At 776 sq ft of living area, it is certainly compact and below the Winnipeg average. However, it is very typical for the King Edward neighbourhood and on Ferry Road itself. The renovated basement provides additional functional space, making it a practical option for individuals, couples, or those comfortable with efficient living.
2. How does the assessed value compare?
The assessed value is around average for the immediate area, which is a positive sign it is not overvalued for its location. It is notably below the citywide average assessed value, reflecting the home's smaller size and the neighbourhood's character.
3. What is the neighbourhood like?
King Edward is an established, central neighbourhood. The data shows homes here are generally older and on smaller lots compared to the city as a whole, indicating a mature, community-focused area rather than a suburban one.
4. What are the potential downsides?
The main consideration is space; it is not a home for those who need multiple large rooms or ample storage. Being built in 1955, while not the oldest on the street, means systems like plumbing or electrical may eventually need updates, despite the basement renovation.
5. Who would this property not suit?
It would likely not meet the needs of growing families requiring multiple bedrooms and more living space, or buyers seeking a modern, open-concept layout. It is best viewed as a pragmatic housing solution rather than a long-term family or entertainment-focused home.