3528 Ferrier Street

Property Overview & Appeal

This vacant land parcel at 3528 Ferrier Street in Winnipeg's Rosser-Old Kildonan area presents a straightforward development opportunity. Its key characteristic is a modest 2,025 sqft lot, positioned within a neighbourhood of predominantly larger properties. The appeal lies in its low barrier to entry, indicated by an assessed value significantly below the area norm, making it a potential candidate for a custom build, investment hold, or auxiliary use. It would suit a buyer looking for a blank canvas in an established area, perhaps a builder with a specific small-footprint plan, or an investor with a long-term outlook on the neighbourhood's evolution. A less obvious perspective is that its small size and low value could mean lower property taxes and less maintenance, offering a unique entry point into the market for those willing to navigate the process of constructing a new home.

Frequently Asked Questions

1. What can actually be built on a lot of this size?
Given its dimensions, the lot is likely suited for a compact, single-family home or possibly a modular home. Any build would need to adhere to the City of Winnipeg's zoning bylaws regarding setbacks, building coverage, and height.

2. Why is the assessed value so much lower than nearby properties?
The assessed value reflects the land only, as there is no existing structure. It is also notably lower than many neighbouring plots, which may be due to its smaller size, specific dimensions, or other municipal assessment factors.

3. Are utilities available to the site?
Prospective buyers must verify with the city and local providers that water, sewer, natural gas, and electrical services are available at the lot line and what the connection fees would entail.

4. What are the immediate next steps if interested?
The crucial first steps are to conduct a title search, review the official zoning designation, and consult with the City Planning Department to understand all development restrictions and requirements before purchase.

5. How does the low assessed value impact property taxes?
While the current taxes would be very low due to the land-only assessment, taxes will increase substantially once a home is built and added to the assessment roll. Budgeting for this future increase is important.