Property Overview & Appeal
This one-and-a-half storey home on Marjorie Street in Winnipeg's King Edward neighbourhood presents a practical opportunity. Its key characteristic is a generous 4,792 sqft lot, placing it in the top 9% for lot size on its street, offering ample outdoor space uncommon for the area. The 1,260 sqft living area is also notably above average for both the street and neighbourhood. It features a detached garage and an unrenovated basement, indicating a property that functions well but offers a blank canvas for future updates.
The appeal lies in its strong positioning within its immediate community. While its assessed value is modest citywide, it ranks above average within King Edward, suggesting a solid value proposition for the area. It suits a buyer looking for a home with inherent space and potential, who values a larger yard over a modern, turn-key interior. It’s a pragmatic choice for someone comfortable with gradual improvements, offering the chance to add value through renovations like the basement, all while owning a property that stands out locally for its lot size and living space.
Frequently Asked Questions
1. Is the low assessed value a concern?
Not necessarily for the local market. While below the Winnipeg city average, the home’s assessed value is actually above average for the King Edward neighbourhood, indicating it is reasonably valued within its specific community context.
2. What does "above average" for living area mean here?
The home’s 1,260 sqft of living space ranks in the top 10-11% compared to similar homes on Marjorie Street and in the King Edward area, meaning it offers more interior room than most comparable properties nearby.
3. How does the lot size compare?
The nearly 4,800 sqft lot is a significant feature. It places in the top 9% on its street, meaning you are getting substantially more outdoor space than most of your immediate neighbours, which is a key differentiator.
4. The home sold in 2022. What can that price range tell me?
The listed sold price range from 2022 provides a recent market benchmark. However, for precise historical pricing to inform your offer, you need to request the exact sold price data via email from the source.
5. What is the implication of an unrenovated basement?
It confirms the basement is functional but not updated. This represents both a current cost-saving on the purchase price and a clear opportunity for future expansion or modernization, allowing you to customize the space to your needs.