Property Overview: 483 Marjorie Street, Winnipeg
Key Characteristics & Appeal
This one-storey home in King Edward presents a practical opportunity in a mature neighbourhood. Built in 1954, its 932 sqft living area is typical for the immediate area but offers a more compact footprint compared to the citywide average. A key standout feature is the land size: at 4,652 sqft, the lot is notably larger than many in the neighbourhood and on the street itself, offering above-average outdoor space. The home includes a renovated basement and a detached garage.
Its appeal lies in its grounded, no-frills value within a well-established community. It suits first-time buyers or downsizers looking for a manageable home with a generous yard, without the premium price of a newer or significantly larger property. The renovated basement adds functional living space. A thoughtful perspective is that while the home is average in many metrics for its locale, the larger lot provides a relative scarcity value—a potential for future enjoyment or expansion that is less common on the block. It represents a straightforward entry into homeownership where investment has gone into practical updates (the basement) rather than superficial finishes.
Frequently Asked Questions
1. How does this home compare in size and value to its neighbours?
The home is very typical for Marjorie Street and the King Edward area in terms of living space, age, and assessed value. Its most favourable comparison is its lot size, which is larger than many neighbouring properties.
2. What is the benefit of a larger lot in this neighbourhood?
The 4,652 sqft lot provides more private outdoor space than is common, which is a significant advantage for gardening, recreation, or pets. It also may offer more flexibility for future projects like a shed, deck, or expansion, subject to city bylaws.
3. The assessed value seems low. What does this indicate?
The assessed value is for municipal tax purposes and is not a market price. It is consistent with older, compact homes in the area. Market value is determined by recent sales, condition, and buyer demand.
4. What can you tell me about the renovation to the basement?
The listing confirms the basement is renovated, but specifics on the scope, quality, permits, or finishings are not provided. This would be a key area for a buyer to investigate during a viewing and through direct questions to the seller.
5. Who might this property not suit?
It may not suit buyers looking for a modern, open-concept layout or substantial above-ground square footage, as it is a classic one-storey design with a smaller main-floor footprint. Those prioritizing a large interior or brand-new systems over lot size might find it limiting.