Property Overview
This 1989 bi-level home at 3 George Marshall Way in Canterbury Park is a compact, no-frills property that presents a clear value proposition. Its key appeal lies in its renovated basement and its position as a more affordable entry point into the Winnipeg market. The home sits on a 3,693 sqft lot, which is modest for the area but offers manageable outdoor space. With 792 sqft of living area, it is notably smaller than most comparable homes on its street, in the neighbourhood, and city-wide. This size, coupled with the lack of a garage, defines its practical and efficient layout. Its assessed value is significantly below local averages, yet its most recent sale price in 2023 was $330k, placing it around the city-wide average, suggesting buyer demand for well-located, updated starter homes.
Who It's For
This property would best suit first-time buyers, downsizers, or investors seeking a turnkey, low-maintenance home with modernized basics. Its appeal is for those prioritizing financial accessibility and a renovated interior over square footage, garage space, or a large yard. A thoughtful perspective is that its smaller scale could mean lower utility costs and less upkeep, offering a simpler lifestyle. It may also attract buyers who see potential in the value of the land itself over the long term, given the home's below-average physical footprint on the lot.
Frequently Asked Questions
1. Is the home unusually small for the area?
Yes. The living area of 792 sqft ranks in the bottom 10% compared to homes on the same street and in the Canterbury Park neighbourhood, making it a compact option.
2. What does "renovated basement" likely include?
While specific finishes aren't listed, a renovated basement in a home of this vintage and profile typically means updated flooring, drywall, and lighting, potentially creating a functional living or recreational space to offset the main floor's modest size.
3. How does the 2023 sale price compare to its assessed value?
The home sold for $330k in October 2023, which is substantially higher than its $31,300 assessed value. This is not uncommon and reflects market demand, recent renovations, and the fact that assessed value for taxation purposes often lags behind current market values.
4. What are the implications of having no garage?
Buyers should plan for street parking and consider the practicalities of Winnipeg winters. The absence of a garage also limits storage and workshop space, which is a trade-off for the home's lower price point.
5. The lot size is below average. Is that a major concern?
The 3,693 sqft lot is smaller than most in Canterbury Park but is still a decent size for a compact home. It provides essential outdoor space without the burden of extensive landscaping, aligning with the home's low-maintenance appeal.