Property Summary: 223 Marjorie Street, Winnipeg
Key Characteristics & Appeal
This is a compact, one-storey home built in 1918, situated on a standard city lot in the King Edward neighbourhood. Its key characteristic is its exceptionally accessible price point, reflected in its low assessed value and recent sale history. The home’s living space of 679 sq ft is notably smaller than most comparable properties in the area and across Winnipeg, placing it in the bottom 3-9% for size.
The primary appeal lies in its potential as an entry point into the housing market or as a straightforward investment property. It suits buyers with a limited budget who prioritize location and land ownership over move-in-ready condition or space, such as first-time buyers willing to renovate over time, or investors looking for a rental property with a very low cost basis. A less obvious perspective is that its modest size and low operating costs could also appeal to someone seeking a minimalist lifestyle or a lock-and-leave property. The detached garage adds practical value. It’s important to note the home has a basement, but it is listed as not renovated.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value is based on factors like the home's age, modest size, and condition. Being significantly smaller and older than the typical Winnipeg home results in a proportionally lower valuation.
2. What does "below average — Top 97%" mean for Living Area?
This statistic means the home's living area is smaller than approximately 97% of comparable homes in its comparison group. In simpler terms, it ranks in the bottom 3% for size, which is a key factor in its pricing.
3. Is this a good investment property?
Given its low purchase price and consistent history of sales, it could be suited for a rental investment with a focus on cash flow rather than property appreciation. However, its older age and unrenovated basement suggest potential maintenance costs should be factored in.
4. How recent are the sold price figures?
The most recent sale recorded was in October 2024. The provided prices are estimated ranges; the exact sale price can be requested directly from the site.
5. How does the lot size compare to the neighbourhood?
The land area of 2,411 sq ft is below the average for King Edward, but it is a standard city lot for the area. It offers outdoor space but is not considered oversized.