Property Overview: 30 Maralbo Avenue W, Winnipeg
Section 1: Key Characteristics & Appeal
This Norberry home presents a distinct profile defined by its contrasts. Its key characteristic is a generous, approximately 6,000 sqft lot that is notably larger than most on its street, offering valuable outdoor space and potential. This is paired with a modest 1,000 sqft living area, which is fairly typical for the immediate neighborhood but below the Winnipeg city average. The home, built in 1912, is a century-old property, making it a clear candidate for buyers interested in character or those prepared for the maintenance and updating that comes with age.
The primary appeal lies in its value proposition and lot size. With an assessed value significantly below area averages, it represents a more accessible entry point into the market. This suits practical first-time buyers or investors looking for a footprint in a stable neighborhood, with the understanding that the home itself may require investment. It could also appeal to a buyer with a vision for expansion or renovation who values a large yard above a large existing floor plan. The recent sale in late 2024 suggests a market-tested price point.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than neighboring homes?
The assessed value reflects the property's age (1912), smaller living area, and likely its condition and features relative to newer or more renovated homes on the street. The large lot size contributes value, but the overall assessment is weighted by the dwelling itself.
2. What does the sold price range (CA$250k–300k) indicate?
The sold price, while an estimate, confirms the home transacted at a level consistent with its lower assessment. It sold within a range typical for 65% of properties city-wide, indicating it was priced for its specific conditions and likely seen as a fair market value.
3. Is the large lot a major advantage?
Yes, particularly on this street. The lot is in the top 6% locally for size, offering more privacy, yard space, and future potential than most direct neighbors. This is a key compensating feature for the older, smaller home.
4. What should I consider about a home built in 1912?
Prospective buyers should budget for and investigate potential updates to major systems (plumbing, electrical, heating), insulation, and the foundation. While offering charm, a home of this age requires a thorough inspection and a realistic view of maintenance.
5. How does this property compare within Norberry?
Within Norberry, its living area is average, but its assessed value is among the lowest (top 99%), and it has the oldest construction date in the entire area. It is a unique offering in the neighborhood: one of the largest lots paired with one of the oldest, most modestly valued homes.