Property Overview: 409 Marjorie Street, Winnipeg

Key Characteristics & Appeal

This is a compact, one-storey home built in 1949, situated on a generous lot in the King Edward neighbourhood. Its primary appeal lies in its balance of modest scale and above-average value for its immediate area. At 733 sqft, the living space is smaller than most local and city-wide averages, positioning it as a true starter home or a downsizing opportunity. However, its assessed value ranks notably high for both the street and the neighbourhood (top ~30%), suggesting it is viewed favorably compared to its closest peers. A key feature is the renovated basement, adding functional space. The land size of over 4,300 sqft is above average for the area, offering valuable outdoor potential.

The property would suit a first-time buyer seeking an entry point into homeownership without a large mortgage, or an investor looking for a manageable rental property. Its smaller footprint means lower utility and maintenance costs, a practical advantage. A less obvious perspective is that a home of this size and vintage in a long-established neighbourhood often fosters a strong sense of community, as it attracts residents who prioritize location and lot size over sheer square footage.

Frequently Asked Questions

1. Is the house in good condition given its age?
The home was built in 1949, which is around the average age for the King Edward area. The listing specifically notes a renovated basement, which is a positive sign of updates. A full inspection is always recommended to assess the condition of major systems like plumbing, electrical, and the foundation.

2. Why is the assessed value high for the neighbourhood if the house is small?
Property assessments consider multiple factors, not just size. The above-average ranking for assessed value on Marjorie Street and in King Edward suggests that factors like the renovated basement, lot size, and overall property condition are likely viewed positively compared to other similar homes in the immediate vicinity.

3. What are the expansion possibilities?
The lot size is a significant asset, being larger than many in the area. This could provide future potential for additions, a garden suite (subject to zoning approvals), or simply ample private outdoor space, which is a rarity for many smaller homes.

4. How does the sold price history work?
The listed sold price is a range based on public data. To obtain the exact historical sale price for this property, you must request it via email from the listing service. They provide this detail manually and state they do not use the contact for unsolicited marketing.

5. What is the King Edward neighbourhood like?
King Edward is a mature, central Winnipeg neighbourhood. The property data shows homes here are typically older (averaging built in 1948) and smaller than the city-wide average, indicating a character of established, modest-sized homes on smaller streets, often appealing for their accessibility and lower price point.