Property Summary: 357 Marjorie Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in King Edward presents a grounded opportunity in Winnipeg’s market. Built in 1949, its 900 sqft living area and renovated basement offer functional space, while its detached garage and notably larger-than-average lot (4,516 sqft) for the area provide valuable outdoor utility and potential. The appeal here is one of realistic value and positioning. The home’s metrics—living area, assessed value, and year built—consistently rank as "around average" for both its immediate street and the broader King Edward neighbourhood. This suggests a property that is neither over-improved nor under-improved relative to its peers, offering a stable, known quantity. It would suit a pragmatic first-time buyer or an investor looking for a character home with a solid lot size in an established area, without the premium price of a top-tier citywide property. A thoughtful perspective is that its "average" standing locally, combined with a below-average citywide size and value, could represent an affordable entry point into a mature neighbourhood with less competition than more prominent areas command.
Section 2: Frequently Asked Questions
1. What does the "around average" ranking for this home actually mean?
It means that compared to similar homes on Marjorie Street and in the King Edward neighbourhood, this property’s key features (size, value, age) are typical. It’s not an outlier, which can provide a sense of stability and fair market positioning.
2. The lot size is listed as larger than average for the area. How significant is this?
At over 4,500 sqft, the lot is a standout feature. It offers more private outdoor space than many neighbouring properties, which is valuable for gardening, recreation, or future expansion like a shed or deck.
3. The assessed value is much lower than the citywide average. Is that a concern?
Not necessarily. The assessed value is primarily for municipal tax purposes and is calibrated against local neighbourhood averages. Its assessment is in line with King Edward, indicating it’s appropriately valued for this specific market segment.
4. What can the past sale price range tell me?
The recorded sale in 2016 (in the $23.5k-$26.5k range) provides a historical benchmark. Given the renovated basement and market changes since then, the current value would reflect those updates and nearly a decade of market movement.
5. Who would this property not suit as well?
Buyers seeking a modern, large-footprint home or those prioritizing a premium citywide location might find it less suitable. Its appeal is rooted in neighbourhood character, lot size, and value within a specific, established community rather than luxury finishes or expansive square footage.