271 Marjorie Street

Property Overview: 271 Marjorie Street, Winnipeg

Key Characteristics & Appeal

This is a compact, one-storey home built in 1946, situated on a standard-sized lot in the King Edward neighbourhood. Its key characteristic is its modest scale, with a living area of 690 sqft that places it below the average size for comparable homes on its street, in the area, and citywide. However, it features a renovated basement, adding functional space. The assessed value is notably low compared to the citywide average, aligning more closely with local neighbourhood benchmarks.

The appeal lies in its affordability and simplicity. It represents a straightforward entry point into homeownership, with recent updates to the basement adding modern utility. The lot size is typical for the area, offering outdoor space without the maintenance burden of a larger yard. This property would best suit first-time buyers, downsizers looking to reduce costs and upkeep, or investors seeking a rental property with a lower initial investment. It’s a practical choice for those who prioritize financial accessibility and a manageable footprint over size and premium finishes.

Frequently Asked Questions

1. How does the low assessed value impact property taxes?
A lower assessed value typically results in lower municipal property taxes, which is a significant ongoing cost saving for the owner.

2. Given the home's smaller size, what are the possibilities for expansion?
The renovated basement already adds liveable space. The lot dimensions could potentially allow for a lateral addition, but any expansion would require a review of zoning bylaws and an assessment of the home's existing structure.

3. Is the renovated basement a legal suite?
The listing states the basement is renovated but does not specify it as a legal secondary suite. A buyer should verify its status with the city to understand any rental or legal compliance implications.

4. How does the sale history inform the current value?
The home sold in mid-2022 for an estimated range that aligns closely with its current assessed value, suggesting a stable, moderate value in this market segment without dramatic appreciation.

5. What is the character of the immediate neighbourhood?
With homes of very similar assessed value and vintage on the same block, the street appears to consist of stable, long-established properties, indicating a neighbourhood of consistent, modest-scale homes.