Property Overview: 380 Marjorie Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home in King Edward presents a compelling blend of space, value, and potential. Its key strength lies in its generous 5,826 sqft lot, which ranks in the top 1% on its street and top 6% in the neighbourhood, offering rare outdoor space for the area. The living area (1,319 sqft) is also notably above average for both the street and King Edward. Built in 1975, it is a more modern offering compared to many area homes, and it features a renovated basement and a detached garage.

The appeal is grounded in value and versatility. With an assessed value that ranks in the elite tier locally, it represents a substantial property for the official valuation. The large, flat lot is a significant asset, not just for gardening or recreation, but for its future potential. It would suit practical buyers looking for a solid footprint in a central neighbourhood—whether it's a first-time homeowner wanting room to grow, someone seeking a manageable single-level layout, or an investor recognizing the inherent value in the land itself. It’s a property that offers more "blank canvas" than a period character home, appealing to those who see opportunity in the space both inside and out.

Section 2: Frequently Asked Questions

1. How does the assessed value compare to likely selling prices?
While the assessed value is a strong benchmark for municipal taxes, it is often different from market value. The last known sold price range (2020) was between $28.5k and $31.5k. Current market conditions will determine the final sale price, but the high assessment suggests a robust underlying municipal valuation.

2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the finish quality, ceiling height, permits, and whether it includes a separate entrance or rental suite potential, as this significantly impacts utility and value.

3. Is the large lot a maintenance burden or a development opportunity?
The nearly 6,000 sqft lot is a major feature. For some, it means ample private yard space. For others, it may represent future potential for additions, a garden suite (subject to zoning), or simply a valuable long-term asset. Confirming any zoning restrictions is advised.

4. How does this home compare to others on Marjorie Street?
The data shows this home outperforms most on its street in key metrics: it's in the top 8% for living area, top 5% for assessed value, and top 1% for land size. It is also newer than about 80% of homes on the street.

5. What are the implications of a detached garage?
A detached garage offers flexibility—it can be used for vehicle storage, a workshop, or extra storage without impacting the home's layout. Considerations include its condition, the walk to the house in winter, and whether the driveway can accommodate multiple vehicles.