Property Summary: 346 Marshall Bay, Winnipeg

Key Characteristics & Buyer Appeal

This home is defined by its compact size and significant value proposition. At 560 sqft, it is the smallest residence on Marshall Bay and well below average for living space in its neighbourhood and city-wide. Built in 1945, it is also one of the older homes in the area. These factors are reflected in its low assessed value of $24,300, which places it near the bottom for the street but is more competitive within the broader Maybank neighbourhood and Winnipeg.

The primary appeal lies in its entry-level positioning, particularly for its generous 5,850 sqft lot, which is above average for the city. This presents a clear opportunity: a very affordable purchase with substantial land, suited for a buyer comfortable with a small footprint or one with a long-term vision for expansion or redevelopment. It would suit a pragmatic first-time buyer, an investor looking for a land-value play, or someone seeking minimal property taxes and upkeep. A thoughtful perspective is that its low assessment, while indicating modest finishes, could provide a cushion against property tax increases compared to more heavily renovated homes on the street. Its last sale in the $200k-$250k range (2023) suggests it trades on potential rather than current luxury.

Frequently Asked Questions

1. Is this a "tear-down" property?
While its small size and age suggest redevelopment potential, especially given the large lot, its recent sale and occupancy indicate it is a functional home. It is likely best viewed as a "fixer-upper" with major redevelopment or expansion being a viable future option.

2. Why is the assessed value so much lower than the recent sale price?
Municipal assessed value for taxation purposes often lags behind market value, especially after a recent sale. The sale price reflects what a buyer was willing to pay in the open market, which considered the land value and potential beyond the current structure's condition.

3. What are the main compromises with a home of this size?
Living comfortably in 560 sqft requires efficient use of space and minimal possessions. Storage, appliance size, and hosting ability will be limited. The floor plan and functionality of the original 1945 layout will be key considerations.

4. How does the lot size compare to nearby properties?
At 5,850 sqft, the lot is larger than the city average and is a standout feature. On Marshall Bay, it is slightly below the street average but remains a significant parcel, offering more outdoor space and potential than most typical city lots.

5. Where can I see more detailed data on how this property compares to its immediate neighbours?
You can use the provided link to "Open neighbourhood map analysis" for an interactive visual comparison of year built, living area, assessed value, and lot size for nearby houses.