Property Overview: 321 Marjorie Street, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This one-storey home on a standard city lot in King Edward presents a straightforward, no-frills opportunity. Its key characteristic is its modest 723 sqft living area, which is notably compact compared to most homes in Winnipeg, but is complemented by a renovated basement, adding functional space. The detached garage and a land area just under 4,000 sqft are typical for the immediate neighborhood. The home’s assessed value is very reasonable for the area, a point underscored by its past sale prices, which have remained consistently low and stable over recent years.
The appeal lies in its affordability and simplicity. It’s a property that doesn’t command a premium for size or luxury finishes, making it an accessible entry point into the market. It would suit a first-time buyer or an investor looking for a manageable, low-cost holding with a renovated basement that could provide rental income or flexible living space. A thoughtful perspective is that its smaller footprint can mean lower utility costs and less maintenance, appealing to those seeking efficiency over expanse. It’s not a standout in its peer group by the metrics, but rather represents a solid, average option within its specific local context—ideal for someone whose priority is economic entry into a established neighborhood.
Frequently Asked Questions
1. Is the living space too small?
At 723 sqft above grade, it is significantly smaller than the Winnipeg average. However, the renovated basement provides additional functional space, making it more livable than the main floor square footage alone suggests.
2. What is the typical buyer or tenant for this area?
King Edward is a mature, established neighborhood. The property’s scale and price point typically attract first-time homeowners, downsizers, or investors looking for long-term rental properties.
3. How stable has the property's value been?
Based on available data, the sold price ranges have shown minimal fluctuation between 2019 and 2021, suggesting stable, modest value in its category without dramatic appreciation.
4. What are the major costs or updates to consider?
With a building age of 1948, prospective buyers should budget for potential updates to aging core components like the roof, plumbing, or electrical systems, despite the basement renovation.
5. How does the assessed value relate to likely selling price?
The assessed value is a municipal tax valuation. In this case, its assessed value is consistent with recent past sale prices for the home itself, indicating it is likely priced within a similar, affordable range for the market.