Property Overview: 120 Marine Drive, Winnipeg
Section 1: Key Characteristics & Appeal
This home presents a compelling mix of city-wide value and a specific neighbourhood position. Built in 2010, it’s a relatively modern home situated on a good-sized lot of just over 6,500 sq ft in Normand Park. With 1,801 sq ft of living space, it offers ample room while remaining efficient to maintain.
The primary appeal lies in its exceptional value within the broader Winnipeg market. Its assessed value of $646k places it in the top 5% city-wide, indicating a premium property from a municipal valuation perspective. However, on its own prestigious street, Marine Drive, this same value is notably below the local average, suggesting an opportunity to own in a desirable location at a relative entry point. It suits buyers seeking a modern, well-sized home in an established neighbourhood without the premium typically commanded by the largest estates on the street. It’s an ideal fit for professionals or downsizers who prioritize location, a newer build, and lot size over maximizing square footage, and who see the value in a home that stands out city-wide while being a more modest offering on its own block.
Section 2: Frequently Asked Questions
1. How does the sold price from 2023 relate to the current assessed value?
The home sold for an estimated $700k-$750k in August 2023. The current assessed value of $646k is lower, which is not uncommon as municipal assessments can lag behind market sales. This difference is a key point for discussion with your real estate agent regarding current market value.
2. Is the living space small for the area?
Yes, relatively. At 1,801 sq ft, the living area is below the average for both Marine Drive and the wider Normand Park area. This is the trade-off for the property’s value proposition, offering a newer home on a great lot, but with a more efficient footprint.
3. What does the "Elite" city-wide assessment ranking mean?
This ranking indicates that the home’s assessed value is higher than approximately 95% of all residential properties in Winnipeg. It signals that the city views this as a high-value asset compared to the typical home, which often correlates with desirable locations and construction quality.
4. The data shows nearby homes are larger and have higher values. Is this a concern?
Not necessarily. This dynamic is precisely what creates the opportunity. You are purchasing into the location and standard of the street, but in one of its more accessible and manageable properties. It’s a different profile than the largest estates nearby.
5. How can I get the exact historical sold prices?
The site notes that exact sold figures are not displayed publicly due to industry rules. You can request the exact sold price history by emailing the site directly; they will provide a manual lookup without using your email for marketing.