Property Overview: 400 Marjorie Street, Winnipeg

Section 1: Key Characteristics & Appeal

This bi-level home at 400 Marjorie Street in the King Edward neighbourhood presents a compelling blend of modern convenience and established community. Its key characteristic is its relative newness, built in 2013, which stands out significantly in an area predominantly composed of century-old homes. This suggests newer mechanical systems, modern building standards, and potentially lower immediate maintenance needs compared to its neighbours.

The appeal lies in this balance. You get a contemporary, renovated basement home within a mature, central Winnipeg neighbourhood. The detached garage adds practical value. While the living space (927 sq ft) is modest and typical for the immediate area, the property’s assessed value ranks highly within King Edward, indicating it is viewed as a premium offering on its street. This home would suit a first-time buyer or a downsizer seeking a low-maintenance, move-in-ready property without sacrificing location. It’s also a sensible choice for an investor looking for a newer asset in a stable, rental-friendly neighbourhood, as its modern features could command stronger tenant interest.

Section 2: Frequently Asked Questions

1. How does the 2013 build date impact this home compared to others in King Edward?
It’s a major advantage for maintenance. While you’re buying into a historic area, you’re likely avoiding the significant upkeep—like outdated plumbing, wiring, or foundations—common with the neighbourhood's older housing stock. Your costs and concerns shift from major retrofits to routine maintenance.

2. The living area is below the city average. Is the space practical?
At 927 sq ft, it is compact but efficiently designed as a bi-level. The renovated basement effectively doubles the usable living area, making it more functional than the square footage alone implies. It’s ideal for smaller households but may feel tight for larger families.

3. Why is the assessed value so high for the street and neighbourhood?
The assessment strongly reflects the home’s modern construction year and renovated condition. Compared to the average home on Marjorie Street (built around 1950) or in King Edward, this property is considered substantially newer and in better condition, which is factored into its official valuation.

4. What does the "below average" land size mean for a city lot?
The lot is just under 3,000 sq ft, which is typical for the dense, central King Edward area but smaller than newer suburban lots. This means smaller yard maintenance, which can be a plus, but also limited space for expansions, large decks, or extensive landscaping.

5. The recent sold price seems high relative to the assessed value. Is that normal?
In a market with limited inventory of newer homes in established central neighbourhoods, a premium is common. The sold price reflects what a buyer was recently willing to pay for the specific benefits of a modern home in this location, which can exceed the standardized municipal assessment used for taxation purposes.