Property Overview: 405 Marjorie Street, Winnipeg
Key Characteristics & Appeal
This two-storey home at 405 Marjorie Street in the King Edward neighbourhood stands out for its modern foundation and above-average space. Built in 2016, it is a notably newer construction compared to most homes on its street and in the wider area, suggesting modern building standards and less immediate need for major updates. With 1,306 sqft of living area, it offers significantly more interior space than typical local comparables. The home also features a renovated basement, adding to its functional living space.
Its primary appeal lies in this combination of relative newness and generous interior size within an established neighbourhood. The assessed value is strong for the immediate area, indicating it is perceived as a higher-value property on its street. The land size is modest, especially compared to the city-wide average, which points to a lower-maintenance yard—a potential benefit for some buyers.
This property would best suit buyers looking for a move-in ready, modern home without sacrificing interior square footage. It’s ideal for those who prioritize indoor living space over a large garden and appreciate being in a mature neighbourhood without owning one of its older, potentially maintenance-heavy houses. It represents a practical choice for small families or professionals seeking a balance of contemporary comforts and community character.
Frequently Asked Questions
1. How does the home’s age impact its value and maintenance?
Being built in 2016, the home is substantially newer than most in King Edward. This typically translates to newer major systems (like plumbing, electrical, and HVAC), modern energy efficiency, and potentially lower near-term maintenance costs compared to century-old homes, which is a key factor in its above-average assessed value for the area.
2. The assessed value seems low. What does this mean?
The assessed value ( $37,500 ) is for municipal tax purposes and is not the market value or listing price. It is a relative metric, and this home ranks in the top 7% on its street, meaning it is considered one of the highest-value properties in its immediate peer group for tax assessment.
3. Is the living space efficiently laid out?
At 1,306 sqft, the living area is well above the local average. With two storeys and a renovated basement, the layout likely offers good separation of living and sleeping areas. Reviewing a floor plan would be essential to see if the space meets your specific needs for bedrooms, bathrooms, and common areas.
4. What are the implications of the smaller land size?
The lot is under 2,800 sqft, which is smaller than many city properties. This means less outdoor maintenance and yard work, which can be a positive for busy owners. However, it also means limited space for expansions, large gardens, or extensive outdoor recreation.
5. How does this property compare to others on the street?
The data shows this home is above average on Marjorie Street in key categories: it’s newer, has more living space, and has a higher assessed value than most of its 200 comparable neighbours. This suggests it is a standout, modern property on a street with a wide variety of older homes.