Property Overview: 484 Ferry Road, Winnipeg
Key Characteristics & Appeal
This 956 sqft bi-level home at 484 Ferry Road presents a practical and modern living option in Winnipeg's King Edward neighbourhood. Its primary appeal lies in its relative newness, being built in 2012, which places it well above the average age of homes on its street, in the area, and across the city. This suggests updated building systems and potentially lower immediate maintenance needs compared to much of the surrounding housing stock.
The home features a renovated basement, adding functional living space. While the living area is average for King Edward and the lot size is notably smaller than area norms, the property compensates with an assessed value that ranks highly within its immediate context, indicating perceived value and desirability for its specific location and modern attributes.
This property would suit first-time homebuyers or downsizers seeking a modern, low-maintenance home in an established neighbourhood without the concerns of an older structure. It’s also a sensible fit for value-conscious buyers who prioritize a recent build year and updated interiors over a larger yard.
Frequently Asked Questions
1. How does the lot size impact this property?
At 2,440 sqft, the lot is compact, especially compared to area averages. This means minimal yard maintenance, which is a plus for those seeking simplicity, but offers less private outdoor space for gardening or recreation.
2. What does the above-average assessed value indicate?
With an assessed value ranking in the top 13% on its street and top 8% in King Edward, it suggests the property is viewed as a higher-value asset within its local market, likely due to its modern build year and renovations. Citywide, its assessment is around average.
3. Is the living space sufficient for a family?
At 956 sqft with a renovated basement, the home offers functional space. It is comparable in size to many homes in King Edward but is below the citywide average. It may be best suited for smaller households or those comfortable with efficient use of space.
4. What are the implications of the 2012 build year?
A 2012 construction is a significant advantage, implying newer plumbing, electrical, insulation, and major components like the roof and furnace. This can translate to greater energy efficiency and reduced risk of costly, immediate repairs common in older area homes.
5. How does the last sold price (2022) relate to the current assessed value?
The home sold for an estimated $36.5k-$39.5k in August 2022, and its current assessed value is $36.30k. This close alignment suggests a stable market valuation in line with recent sales, providing a grounded benchmark for potential buyers.