Property Summary: 228 Marjorie Street, Winnipeg
Section 1: Overview & Appeal
This is a compact, one-storey home with a detached garage, built in 1914 and situated on a modest lot in the King Edward neighbourhood. Its key characteristic is its efficiency: with 768 sqft of living space and an unrenovated basement, it represents a straightforward, lower-maintenance footprint. The appeal lies in its accessibility and potential. With an assessed value significantly below the citywide average, it presents a clear entry point into the Winnipeg market. It’s a property that prioritizes land location over square footage, suited for a first-time buyer comfortable with a home that may require updates, an investor looking for a manageable rental property, or someone seeking a minimalist lifestyle without the burden of a large mortgage or excessive upkeep. A less obvious perspective is that its smaller scale and older vintage could translate to lower utility costs and a simpler renovation canvas for someone with a clear vision, compared to a larger, more complex modern home.
Section 2: Frequently Asked Questions
1. Is this a "fixer-upper"?
The home is described as having an unrenovated basement, suggesting it is functional but may require modernization. The main living areas may also benefit from updates, making it a candidate for gradual improvements.
2. How does the property's value compare to the area?
The assessed value is around the average for the King Edward neighbourhood but is well below the average for the entire city. This indicates you are paying primarily for location within a central community, not for a large or modernized structure.
3. What are the implications of the smaller lot size?
At 2,324 sqft, the lot is smaller than most in the city. This means lower exterior maintenance but also limited space for expansions, large gardens, or extensive outdoor amenities. It emphasizes a low-maintenance lifestyle.
4. The home sold in 2017 and 2022. What does that indicate?
The recent sale history suggests it is a transactable property that has appealed to other entry-level buyers or investors. The price ranges shown indicate steady, modest appreciation in line with its market segment.
5. Who would this property not suit?
It would not suit buyers looking for a move-in-ready modern home, those needing multiple bedrooms or ample living space, or anyone desiring a large yard for recreation or expansion.