Property Overview: 306 Marjorie Street, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This is a compact, one-storey home built in 1918, situated on a standard-sized lot in the King Edward neighbourhood. Its key characteristic is its affordability, reflected in a below-average assessed value compared to the city and even its immediate area. The living space of 717 sq ft is modest, ranking smaller than most comparable homes locally. The basement exists but is noted as not renovated, and the property has no garage or pool.
The primary appeal lies in its position as a potential entry point into the housing market. It represents a lower barrier to entry for buyers comfortable with a smaller footprint and a home that may require updates. The lot size is average for the area, offering typical outdoor space for the neighbourhood. A thoughtful perspective is that this property isn't competing with modern, renovated homes; instead, it serves a specific niche for value-seeking buyers or investors looking for a straightforward rental property with a stable assessment history. It would best suit a first-time buyer willing to live modestly and possibly make gradual improvements, or an investor seeking a low-cost acquisition in a mature neighbourhood.
Frequently Asked Questions
1. Is the sold price history accurate?
The listed sold prices are estimated ranges based on public data. For the exact historical sale prices, you must request them directly via the provided email service.
2. What does "below average" for living area mean practically?
It means the home's interior space is smaller than most homes used for comparison. At 717 sq ft, daily living will be compact, and storage space may be limited, which is a key consideration for occupants with more belongings or a need for dedicated work/guest spaces.
3. The assessed value seems very low. Why?
The assessed value is for tax purposes and is consistently below average for the street, area, and city. This typically reflects the home's age, size, condition, and market position rather than an error, and often translates to relatively lower property taxes.
4. What should I know about the "not renovated" basement?
This indicates the basement is in original or functional condition but has not been modernized or finished as living space. It should be inspected for moisture, foundation integrity, and the state of mechanical systems (like the furnace), as updates may be needed.
5. How does the age of the home (1918) affect things?
While the age is around average for King Edward, a 108-year-old home will have character but likely requires careful attention to aging components. This includes potential updates to wiring, plumbing, insulation, and windows, which should be factored into any offer.