Property Overview

This one-and-a-half storey home on Marjorie Street, built in 1949, offers a practical footprint of 915 square feet on a generous 4,333 square foot lot. Its key feature is a renovated basement, adding valuable finished space. The home lacks a garage or pool. In the context of its immediate street and King Edward neighbourhood, its living area, assessed value, and lot size are all around the local average, presenting a very typical offering for the area. Citywide, however, it sits below average in size and value, which highlights its positioning as an affordable entry point into the Winnipeg market.

Key Characteristics & Appeal

The primary appeal of this property is its balance and practicality within a established neighbourhood. It’s not an outlier in any category for King Edward, which can be a strength—it represents a stable, known quantity without unexpected extremes. The renovated basement is a significant functional upgrade, effectively expanding the liveable area beyond the main floor square footage. The lot size is notably larger than many in the neighbourhood, offering valuable outdoor space or future potential that is less common on the street.

This home would suit first-time buyers or practical downsizers looking for a straightforward, maintainable property in a central location without the premium of a newer build or a massive footprint. It’s for someone who values the character of a post-war home and sees potential in a solid foundation and a good lot, rather than someone seeking modern finishes or turn-key perfection. A thoughtful perspective is that its "average" standings locally suggest a lower risk of overpaying relative to the immediate area, while its below-average citywide metrics indicate where the affordability advantage lies.

Frequently Asked Questions

1. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. Buyers should inquire about the quality of the finish, ceiling height, moisture control, and whether it includes a legal secondary suite or is simply a finished rec room.

2. Is there potential to add a garage?
With a lot size larger than many neighbours, there may be space to build a garage or a parking pad, subject to City of Winnipeg zoning bylaws and setback requirements. This is a key advantage worth investigating.

3. How does the assessed value relate to the likely selling price?
The assessed value is for municipal tax purposes and is typically lower than market value. The provided citywide average assessed value of $390k for comparable homes suggests this property’s $26.4k assessment reflects its more modest size and location, not a direct sale price.

4. What are the typical maintenance considerations for a home of this age?
Built in 1949, prospective buyers should pay special attention to the condition of the roof, wiring, plumbing, and foundation. The recent basement renovation may have addressed some issues, but an independent home inspection is crucial.

5. How does this home compare to the new build next door?
The data shows a newly built home (2023) at 447 Marjorie Street is significantly larger and has a higher assessed value. This contrast highlights the choice between a modern, higher-cost home and this more affordable, established property, and may influence future property values on the street.