Property Summary: 475 Marjorie Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on a 4,652 sqft lot in King Edward presents a solid, value-oriented opportunity. Its key appeal lies in a combination of above-average investment in the neighborhood and a generous, usable lot size. With a living area of 965 sqft, the house itself is functionally sized for the area, but the property's standout metrics are its assessed value and land area, which rank in the top 10-20% locally. This suggests the property is viewed as a premium holding on its street, likely due to its renovated basement and desirable plot.
The home suits practical buyers looking for a foothold in a central neighborhood without a massive renovation project. It’s ideal for a first-time homeowner, a small family, or an investor attracted by the 2022 sale indicating strong recent appreciation. The detached garage and larger-than-average lot offer flexibility for parking, storage, or future outdoor space. A thoughtful perspective is that while the home is modest in size city-wide, its high local assessment ranking signals a "best house on a good street" scenario, which can be a prudent strategy for long-term value stability and livability.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The current assessed value is $34.50k. The property last sold in August 2022 for an estimated $38.50k–$41.50k, which was in the top 5-6% for the area at that time, indicating a history of strong market performance.
2. Is the lot size a significant feature?
Yes. At 4,652 sqft, the lot is notably larger than many in King Edward (ranking in the top 29% for the neighborhood). This provides more private outdoor space than typical and potential for additions or landscaping.
3. What does the "renovated basement" entail?
The listing confirms a renovated basement, which adds functional living space. Specific details on the finish quality or layout should be verified through a viewing or with the selling agent.
4. Who are the likely neighbors?
The immediate surroundings consist of similar single-family homes from the mid-20th century. A new build next door at 447 Marjorie (2023) indicates an area attracting recent investment and modern updates.
5. How does this home fit Winnipeg's broader market?
City-wide, this home is below average in size but around average in assessed value. Its primary appeal is its strong standing within the established King Edward neighborhood, offering a balance of community and relative affordability compared to newer or larger homes in suburban areas.