362 Marshall Bay

Property Overview: 362 Marshall Bay, Winnipeg

Key Characteristics & Buyer Profile

This home at 362 Marshall Bay in the Maybank neighbourhood is a compact, mid-century property built in 1954. Its key characteristic is its modest scale: with 896 sqft of living space, it is notably smaller than most homes on its street and in the wider area. The lot size of 5,851 sqft is also below the street average but is fairly typical when compared citywide. The property’s assessed value is positioned around the middle range for Winnipeg, suggesting a relatively affordable entry point into the market.

The appeal lies in its efficiency and potential. It represents a classic, no-frills Winnipeg home suited for a first-time buyer, downsizer, or investor looking for a manageable property without a premium for excess space. Its below-average size on a street of larger homes could be seen as an opportunity to secure a location at a lower cost basis. The recent sale in the $300k-$350k range aligns with its practical profile. This property would best suit a hands-on buyer comfortable with a home of vintage character, or someone prioritizing location and lot over square footage, who views the compact living area as a simpler, more cost-effective lifestyle choice rather than a drawback.

Frequently Asked Questions

1. Is the living area too small?
At 896 sqft, the home is significantly smaller than the average on Marshall Bay (~1,111 sqft). It requires efficient use of space and would not suit those needing multiple large bedrooms or extensive living areas. However, for a small household, it offers a manageable and cost-effective footprint.

2. How does the assessed value compare to the recent sale price?
The assessed value is approximately $34,600, while the home sold for an estimated $300,000-$350,000 in 2024. This large discrepancy is normal; municipal assessed value for taxation purposes is rarely an indicator of current market value.

3. What does the lot size mean for potential expansion or outdoor space?
The 5,851 sqft lot is below the street average but provides a decent outdoor area for a city lot. While not the largest on the block, it offers room for a garden, patio, and potential future additions, subject to zoning and permit approvals.

4. Are older homes like this a concern?
Built in 1954, the home’s major systems (roof, plumbing, electrical, foundation) are likely original or aged. A thorough inspection is essential to understand the condition and anticipate potential maintenance or upgrade costs, which should be factored into the budget.

5. How can I get the exact historical sale price?
The exact sold price is not publicly listed. As noted on the detail page, you can request this information directly via email from the service, which provides the accurate figure manually without using your email for marketing.