Property Overview: 384 Marjorie Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home in King Edward is a classic Winnipeg character property built in 1949. With 900 sqft of living space and a renovated basement, it offers a functional layout on a notably generous 4,853 sqft lot—a standout feature that is well above average for both the street and the neighbourhood. The home presents as a solid, middle-of-the-road option within its immediate context: its living area, assessed value, and age are all typical for King Edward, suggesting it’s in line with the area’s established housing stock.

The primary appeal lies in its land size and location. The large lot is a significant asset, offering ample outdoor space and future potential that is increasingly rare in mature neighbourhoods. Its assessed value positions it as an accessible entry point into the market. This property would suit a first-time buyer or a practical investor looking for a “blank canvas” home with good bones on a sizable lot. It’s for someone who values space over a turn-key finish and sees potential in the land itself, whether for gardening, expansion, or simply the privacy it affords compared to tighter lots. A less obvious perspective is that its very averageness in metrics like size and value for the area indicates stability and limits overpayment risk, making it a sensible, grounded choice rather than a flashy investment.

Section 2: Frequently Asked Questions

1. What is the actual likely selling price?
While the assessed value is approximately $25,800, the last recorded sale was between $18,500-$21,500 in 2016. The selling price will be determined by current market conditions, the home’s state of repair, and the high demand for lots of this size. It is essential to get a current market evaluation.

2. What does “renovated basement” imply?
The listing notes a renovated basement, but the scope and quality of the renovation are unspecified. Buyers should inquire about permits, the work done, moisture control, and ceiling height to understand if it’s a finished living space or a modernized utility and storage area.

3. How does the large lot benefit me?
Beyond extra yard space, the large lot (over 25% bigger than the neighbourhood average) provides better privacy, more natural light, and room for additions like a garage, garden, or deck. It also potentially holds greater long-term value for redevelopment compared to neighbouring properties.

4. What are the considerations of a 1949-built home?
While the wiring and plumbing may have been updated, a home of this age may still require investment in foundational maintenance, window replacement, or insulation upgrades to meet modern efficiency standards. A thorough inspection is crucial.

5. Who are the typical neighbours?
The listing shows nearby properties on Marjorie and Parkview Streets, all in the King Edward neighbourhood. This suggests a stable, established community of primarily single-family homes. Reviewing the nearby “For reference” properties (like 381 Parkview St.) gives a clear idea of the architectural style and scale of homes in the immediate area.