Property Overview
63 Ferndale Avenue is a well-established home in Winnipeg's Norwood West neighbourhood, built in 1941. The property stands out for its generous 2,035 square feet of living space, which places it comfortably within the top 10-11% of homes both on its street and in the wider city. With an assessed value of $525,000, it ranks even higher in terms of valuation, sitting in the top 8% on Ferndale Avenue. The lot is a sizable 5,997 sqft, offering ample outdoor space that is typical for the area.
Key Characteristics & Appeal
The primary appeal of this home lies in its above-average size and valuation within a mature, established neighbourhood. It offers significantly more interior space than most comparable properties, suggesting a layout suitable for a growing family or those who value spacious rooms. Its assessed value, notably higher than area averages, indicates a property that may have seen updates or possesses desirable features not captured in the basic metrics. The lot provides a balanced canvas for gardening, recreation, or potential expansion.
This property would likely suit a buyer looking for a character home in a central neighbourhood who prioritizes interior square footage over a brand-new build. It’s a solid choice for those who appreciate the stability and established greenery of older communities and are prepared for the maintenance that comes with an 85-year-old home. A thoughtful perspective is that while the home is older than the citywide average, it is actually newer than many on its own street, potentially meaning it benefits from slightly more modern construction techniques for its era while still holding the charm of the neighbourhood.
Frequently Asked Questions
1. How does the assessed value relate to the likely selling price?
The assessed value of $525,000 is for municipal tax purposes. While it is a useful benchmark and indicates the home is a higher-value property in its area, the actual market price can be influenced by current market conditions, the home's interior condition, and recent upgrades.
2. What does the "Top 10%" ranking for living area practically mean?
It means this home is larger than approximately 90% of the homes used for comparison in its immediate area. You are getting more interior space than most homes on the street and in Norwood West, which is a significant advantage for family living or entertaining.
3. The home was last sold in 2016. What can that tell me?
The previous sale nearly a decade ago suggests the sellers have had a long tenure, which can sometimes indicate a well-maintained property and a stable neighbourhood. The sale price range from that time ($400k-$450k) provides a historical benchmark for how values have changed.
4. Are there any concerns with a home built in 1941?
While the home is structurally sound and newer than many on its block, a buyer should budget for and investigate the age and condition of major systems common to homes of this era, such as plumbing, electrical, and the roof. A thorough home inspection is essential.
5. The lot size is noted as "around average." Is that a disadvantage?
Not at all. At just under 6,000 sqft, the lot is very much in line with the generous lot sizes typical of Norwood West. It provides ample private outdoor space without the excessive maintenance of a much larger yard, striking a practical balance.