Property Overview
511 Marjorie Street is a well-situated, one-storey home in Winnipeg's King Edward neighbourhood. Its primary appeal lies in offering solid value within a mature community, presenting a balanced proposition rather than standout luxury. The home is practical, with a renovated basement adding functional living space to the 899 sqft main floor. A key, less obvious asset is the generous 4,837 sqft lot, which is significantly larger than most in the immediate area and offers ample outdoor space or future potential in a neighbourhood where lots are typically smaller.
This property would suit first-time homebuyers seeking an entry point into a stable area without a major renovation project, or downsizers looking for a manageable single-level layout with a low-maintenance footprint. Its assessed value positions it as an affordable option within the city, especially for those prioritizing lot size and location over a large interior.
Key Details & FAQs
- Key Characteristics: 899 sqft one-storey home, built in 1955, featuring a renovated basement. It sits on a large 4,837 sqft lot and has no garage.
- Neighbourhood Context: In the King Edward area, the home's living space and assessed value are both around the neighbourhood average. Its lot size, however, is well above average for the street and area.
- Recent Sale: The property last sold between $335,000 and $365,000 in December 2024.
Frequently Asked Questions
1. How does this home compare in size to others nearby?
At 899 sqft of living area, the house itself is very close to the average size for both Marjorie Street and the wider King Edward neighbourhood. The real differentiator is the land; the lot is over 1,000 sqft larger than the area average, providing more yard space.
2. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finishes or layout. This is a key point to clarify with the selling agent to understand if it's a finished recreational space, contains additional bedrooms, or has updated mechanical systems.
3. Is the lack of a garage a significant drawback?
This depends on the buyer's needs. For some, the large lot may offer room to add a garage or shed in the future. For others, it means relying on street parking, which is common in older Winnipeg neighbourhoods. It's a trade-off that contributes to the home's affordability.
4. The home sold very recently. Why is it back on the market?
The property sold in December 2024. While the reason for the quick resale isn't provided, such situations can sometimes present an opportunity and are worth inquiring about. It could be due to a change in the previous buyer's circumstances rather than an issue with the property.
5. How does the assessed value relate to the likely selling price?
The city's assessed value is $240,000 for taxation purposes. The home's recent sale price range ($335k-$365k) is the more current indicator of its market value, reflecting what buyers were recently willing to pay in the open market.