Property Overview: 500 Marjorie Street, Winnipeg
Key Characteristics & Appeal
This one-storey home on a generous 4,779 sqft lot presents a solid, grounded opportunity in Winnipeg's King Edward neighbourhood. Built in 1955, it is newer than many homes on its street and in the immediate area. The living space (932 sqft) is typical for the locale, offering a manageable footprint. A key feature is the renovated basement, adding functional space, and the property includes a detached garage.
Its primary appeal lies in its strong positional value within its established community. The lot size is a significant asset, ranking well above average for both the street and the neighbourhood, offering ample outdoor space or future potential that is becoming rarer in older areas. While the home's size and assessed value are modest by city-wide standards, they are competitive and typical for King Edward, suggesting a realistic entry point into the market.
This property would suit a first-time buyer, a downsizer, or an investor looking for a straightforward, no-frills home in a long-established neighbourhood. It’s for someone who values a larger lot over a large house, and who appreciates the character and stability of a mature area. The renovated basement adds immediate utility, making it move-in ready for someone needing extra living or recreational space without a major project.
Frequently Asked Questions
1. How does this home compare to others in the area?
The data shows this home is very representative of King Edward. Its living area and assessed value are both around the neighbourhood average. It stands out positively with a larger-than-average lot and a build year that is slightly newer than many nearby homes.
2. What is the significance of the lot size?
At 4,779 sqft, the lot is notably larger than most on Marjorie Street and in the King Edward area. This provides more private outdoor space, better potential for gardening, parking, or storage, and could be a long-term asset for expansion or redevelopment, subject to zoning.
3. What does "renovated basement" typically mean for a home of this era?
In a 1955 home, a renovated basement often means updated finishes, improved lighting, and a more livable space. It’s wise to clarify the scope, permits, and the current condition of core elements like plumbing, electrical, and waterproofing that are common to homes of this age.
4. The assessed value seems low. What does this indicate?
The assessed value is for municipal tax purposes and is not a market price. Its ranking shows it is consistent with the area. The last recorded sale in 2022 fell within the $295k-$325k range, which is a more relevant indicator of its market value.
5. Who would benefit most from this property's profile?
A buyer whose priority is securing a larger parcel of land in an established neighbourhood, rather than maximizing interior square footage. It also offers a manageable scale for someone who wants the space a basement provides but prefers the simplicity of a single-storey main floor layout.