Property Overview & Key Characteristics
479 Marjorie Street is a one-storey home in Winnipeg's King Edward neighbourhood, built in 1954. Its primary appeal lies in its balance of a renovated basement, a detached garage, and a land area that is notably larger than many local comparables. At 4,652 sqft, the lot size ranks in the top 20-29% for the immediate street and neighbourhood, offering above-average outdoor space or future expansion potential in a mature area.
With 899 sqft of living space, the home itself is typical for the local area but smaller than the Winnipeg city average. Its assessed value is consistent with similar homes on Marjorie Street and in King Edward. This presents a practical, grounded opportunity. It would suit first-time buyers seeking a manageable footprint with updated essentials, or an investor looking for a character home with a good lot size in a stable, established neighbourhood. The value proposition is less about grandeur and more about securing a proportionally generous parcel of land with a solid, renovated baseline home.
Frequently Asked Questions
Q: How does the lot size compare to nearby properties?
A: The land area of 4,652 sqft is a standout feature. It ranks above average for both Marjorie Street and the broader King Edward neighbourhood, meaning you're getting more yard space than many surrounding properties.
Q: Is the living space smaller than average?
A: Within the immediate King Edward area, the 899 sqft living area is very close to the local average. It is, however, below the average for the entire city of Winnipeg, indicating this is a more compact, efficient home typical of its specific neighbourhood.
Q: What does the "around average" assessed value indicate?
A: It suggests the property is priced in line with the local market for similar homes, neither significantly under nor over-valued compared to its direct peers on the street and in the neighbourhood.
Q: The home was built in 1954. What should I consider?
A: While the basement has been renovated, the core structure is 72 years old. Prospective buyers should focus inspection efforts on the condition of major aging components, such as the roof, plumbing, electrical systems, and the foundation, beyond the renovated finishes.
Q: Who might this property not suit?
A: It may not be ideal for those seeking a large, modern interior or a brand-new home, as the living space is compact and the structure is mature. The value here is in the land and location, with a home that serves as a functional starting point.