Property Overview & Key Characteristics
This one-storey home at 452 Marjorie Street in Winnipeg's King Edward neighbourhood presents a practical and value-oriented opportunity. Its primary appeal lies in a combination of a generous, above-average lot size and a recently renovated basement, offering more usable space and potential than the modest 900 sqft main floor suggests. Built in 1954, the home sits on a lot of nearly 5,000 sqft, which is notably larger than most in the immediate area and provides valuable outdoor space or future expansion potential.
The property’s assessed value is strong for its street and neighbourhood, indicating it is viewed favorably relative to its local peers. A key selling point is the detached garage, adding practical storage or workshop space. This home would suit first-time buyers seeking an entry point into homeownership with a manageable footprint, or value-focused investors looking for a property with a solid lot size in a central location. It’s a pragmatic choice for those who prioritize land and functional space over a large or modern interior, and who see potential in the existing renovation work and the substantial yard.
Frequently Asked Questions
1. How does the living space compare to other homes?
At 900 sqft, the main living area is fairly typical for similar one-storey homes in the King Edward neighbourhood. The renovated basement effectively adds functional space, making the total usable area more competitive.
2. Why is the assessed value considered high for the area?
The assessment is above average for both Marjorie Street and the wider King Edward area. This is likely influenced by the home’s larger-than-average lot size and the renovated basement, which add tangible value compared to neighbouring properties.
3. What is the significance of the large lot size?
The lot of 4,815 sqft is a standout feature, ranking in the top 10% on its own street. This offers more privacy, yard space, and future potential (like additions or landscaping) than is common for homes of this vintage and style in central neighbourhoods.
4. What can recent sale prices on the street tell me?
A nearby, newly built home at 447 Marjorie Street sold for significantly more, highlighting the premium for new construction. The sale history for 452 Marjorie Street itself shows it last sold in early 2021, providing a recent benchmark, though market conditions have since evolved.
5. Is the detached garage a common feature here?
Yes, the presence of a detached garage is noted and is a practical asset in this neighbourhood. It provides secure parking and additional storage, which is a valuable convenience not always available with older, compact homes.