Property Overview: 363 Marshall Bay, Winnipeg
Section 1: Key Characteristics & Appeal
This home on Marshall Bay in the Maybank neighbourhood presents a solid, value-oriented opportunity. Its key appeal lies in its established character and favourable positioning within its immediate area. Built in 1961, it is notably newer than many homes on its street and in Maybank, suggesting potentially fewer age-related concerns. With 1,060 sqft of living space and a 6,534 sqft lot, the property offers practical family-scale dimensions.
The standout characteristic is its assessed value of $38,900, which ranks in the top 18% for both Marshall Bay and the wider Maybank area. This indicates the municipality views it as a higher-value asset compared to its direct peers, which can be a positive signal for equity and stability. The home last sold in the $250k-$300k range around 2020.
This property would suit a pragmatic buyer—perhaps a first-time homeowner or a downsizer—who values an established, quiet street over flashy newness. It’s for someone who understands the value of a home that stands above average in its immediate context for key metrics like age and assessment, offering a sense of rootedness and prudent investment in a mature neighbourhood.
Section 2: Frequently Asked Questions
1. What does a high assessed value relative to the street actually mean?
It means the city’s assessment for this property is higher than most of its neighbours. This typically reflects attributes like a larger lot, a more recent build year, or improvements. While it can correlate with market value, it’s primarily used for calculating property taxes, not setting sale price.
2. Is the living space considered small?
At 1,060 sqft, it is slightly below the average for Maybank but very close to the citywide average for comparable homes. It represents a manageable size, often associated with lower utility costs and less maintenance, which appeals to many buyers.
3. The home was built in 1961. What should I consider?
While newer than many on the street, a 60+ year-old home will likely have older components. The key is to investigate the condition and age of major systems (roof, wiring, plumbing, windows) and any updates made over the years.
4. How does the 2020 sale price relate to today’s value?
The $250k-$300k range from 2020 is a historical data point. Current market value will be determined by present market conditions, the home’s current state, and recent comparable sales. It serves as a reference, not a current appraisal.
5. The lot is above average citywide but average for the street. Why is that significant?
It suggests Marshall Bay features consistently generous lot sizes. You’re getting a sizable yard that is a premium in many parts of the city, but here it’s the neighbourhood norm, preserving both your privacy and future resale appeal.