Property Summary: 481 Ferry Road, Winnipeg
Key Characteristics & Appeal
This 1987 bi-level home at 481 Ferry Road presents a practical and updated living space in Winnipeg's King Edward neighbourhood. Its key features include a renovated basement and a detached garage. With 939 sqft of living area and a 3,576 sqft lot, the home sits comfortably within the averages for its immediate street and neighbourhood, offering a sense of consistency and predictability for the area.
The appeal here is one of modernized fundamentals within a well-established community. The renovated basement adds valuable, flexible space. Recent sale history indicates steady market interest. This property would suit first-time buyers seeking a move-in-ready home without the premium of a newer subdivision, or practical downsizers looking for single-level living potential (with primary amenities likely on the main floor) and lower maintenance. It’s a home that prioritizes function and location over size, representing a grounded entry into the Winnipeg market.
Frequently Asked Questions
1. How does this home compare in size to others in Winnipeg?
While the living space is typical for King Edward and Ferry Road, it is notably more compact than the Winnipeg citywide average home, which is around 1,342 sqft. This highlights its efficiency and likely lower utility costs.
2. What does the "around average" ranking for value mean?
The assessed value ranks in the top 31-36% locally, meaning it is valued higher than many immediate peers. This can signal perceived desirability or updates, but it's wise to compare this assessment with recent sale prices and current market conditions.
3. Is the lot size a constraint?
At just under 3,600 sqft, the lot is standard for the neighbourhood but smaller than the city average. This means manageable yard maintenance, but may limit expansion possibilities or privacy compared to larger lots elsewhere.
4. The home sold recently in 2024 and 2023. Is that a concern?
Frequent sales can be due to many factors, including investment flipping, life changes, or simply market timing. The consistent sale price range over these transactions suggests stable value, but it warrants inquiry into the reasons for the quick turnover.
5. What are the advantages of a 1987 build in this area?
In a neighbourhood where many homes are older (the area average is circa 1948-1958), a 1987 build offers newer construction standards, potentially fewer major system updates, and a floor plan that may feel more contemporary to modern lifestyles.