397 Marjorie Street

Property Overview: 397 Marjorie Street, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home on Marjorie Street in the King Edward neighbourhood presents a straightforward, entry-level opportunity in the Winnipeg market. Its key characteristic is its modest scale, with 836 square feet of living space on a roughly 2,800 sqft lot, which is typical for the immediate area but below the city-wide average. Built in 1918, it shares the vintage common to many homes in this part of the city.

The appeal lies primarily in its accessibility. With an assessed value significantly below the Winnipeg average, it represents a lower financial barrier to entry for homeownership. Its smaller size translates to manageable maintenance and lower utility costs, a practical consideration for budget-conscious buyers. The location within a long-established neighbourhood offers a sense of community and convenience.

This property would best suit a first-time buyer, an investor looking for a rental property, or someone seeking to downsize into a simple, no-frills home. It’s for those who prioritize financial practicality and a modest footprint over modern size or finishes. A thoughtful perspective is that a home of this age and value offers the new owner a clear canvas; any updates or renovations made will directly and visibly shape its comfort and value, without the premium of paying for someone else’s high-end renovations.

Section 2: Frequently Asked Questions

1. Is the assessed value the same as the market value?
No. The assessed value (listed as $200k) is for municipal tax purposes. The market value—what a buyer would actually pay—is determined by current market conditions, the home’s state, and recent sale prices of comparable properties.

2. What does the "ranking" data mean for living area and value?
The rankings compare this home to others on its street, in King Edward, and city-wide. For example, its living area is "below average" city-wide (top 88%), meaning about 88% of Winnipeg homes are larger. On its own street and in the neighbourhood, however, its size is much more typical, ranking closer to the average.

3. What should I know about a house built in 1918?
While offering classic charm, a home of this age will likely have older infrastructure. A thorough inspection is essential to understand the condition of foundational elements, the roof, plumbing, electrical systems, and insulation. Budgeting for maintenance and potential updates should be part of your planning.

4. There’s no garage. What are the parking options?
The listing indicates no garage. You should verify on-site for the presence of a dedicated driveway or rear laneway access. Street parking is typical in such neighbourhoods, but checking local permit requirements or restrictions is advisable.

5. The last recorded sale was in early 2023. How can I get the exact price?
As noted on the detail page, the exact sold price history is available upon request. You can provide your email to the listing service to receive the precise figure, as they manually compile this data from non-public sources.