Property Overview: 488 Marjorie Street, Winnipeg
Key Characteristics & Appeal
This 2020-built, one-storey home in King Edward stands out for its modern foundation and above-average space. With 1,327 sqft of living area, it offers significantly more room than most comparable homes on its street and in the neighbourhood. Its recent construction means it likely benefits from contemporary building standards, efficient systems, and minimal immediate repair needs—a notable contrast to the area's predominantly mid-century housing stock.
The primary appeal lies in its balance of new-build advantages within an established community. The renovated basement adds functional living space, increasing its utility. While the property lacks a garage and pool, its elite-tier assessed value for the area suggests strong intrinsic value and desirability. The lot size is typical for the local streetscape but smaller than the Winnipeg city average, resulting in manageable outdoor maintenance.
This home would suit buyers seeking a move-in-ready, modern property without the premium of a brand-new subdivision. It’s ideal for those who value low-maintenance living, modern amenities, and the character of a mature neighbourhood like King Edward. It could also appeal to value-conscious investors or buyers looking for a property with a strong assessed value relative to its peers, indicating a solid foundation for equity.
Frequently Asked Questions
1. Why is the assessed value so high compared to nearby homes?
The assessed value ranks in the top 3-4% for both Marjorie Street and the broader King Edward area. This is primarily driven by the home's very recent construction year (2020) and its above-average living area, which are key factors in property valuation.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finish. Prospective buyers should inquire about the quality of the renovation, the ceiling height, whether it includes a legal suite or additional bedrooms, and if proper permits were obtained.
3. How does the lack of a garage affect daily living?
The property has no garage, which is common for many older Winnipeg neighbourhoods. Buyers should consider on-street parking permits, winter plug-in access for vehicles, and the potential cost and feasibility of adding a garage or carport in the future, subject to local bylaws.
4. The home sold in early 2021. What might explain its current availability?
A resale after only a few years can be due to many neutral factors, such as a job relocation, change in family circumstances, or an investor exiting the market. It does not inherently indicate a problem with the property.
5. How does the lot size impact potential for expansion or outdoor use?
At 3,591 sqft, the lot is standard for the street but below the citywide average. This may limit possibilities for large additions, decks, or pools. However, it also means less yard work. Any plans for significant exterior changes should start with a review of zoning setback requirements.