Property Overview
328 Madison Street is a one-and-a-half storey home in Winnipeg's Kensington neighbourhood, built in 1945. Its appeal lies in offering above-average space and land for its immediate area at a value-oriented price point. With 1,178 sqft of living space and a 4,771 sqft lot, it ranks in the top 20% of homes on Madison Street for both size and lot dimensions. The detached garage adds practical utility. The home’s assessed value is notably lower than the citywide average, which can translate to lower property taxes, a significant ongoing savings.
This property would suit a first-time buyer or value-conscious investor looking for a character home with room to grow on a generous lot in an established community. It’s a practical choice for someone who prioritizes land size and interior space over a modern build, and who sees potential in a home that stands out positively within its own street and neighbourhood context, even if it's more modest by broader city standards.
Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
This is common for older, well-maintained homes in established neighbourhoods. The assessment reflects factors like the home's age (1945) and local market values in Kensington. A lower assessment typically means lower annual property taxes, which is a financial advantage.
2. How does the home’s size compare practically?
At 1,178 sqft, it offers more space than the average home on its street (~960 sqft) and in Kensington (~914 sqft). This suggests a more spacious interior feel than many nearby properties, though it's slightly below the citywide average.
3. What does the "above average" ranking for the year built mean?
Despite being 81 years old, it ranks in the top 7% on its street for year built. This indicates that many houses on Madison Street are even older, making this one of the relatively newer homes on the block—a less obvious point of stability and potentially fewer age-related issues than immediate neighbours.
4. Is the lot size a significant feature?
Yes. The lot is over 4,700 sqft, which is larger than most in Kensington. This offers valuable outdoor space, privacy, and potential for gardening, expansion, or additions, which is a premium in older neighbourhoods.
5. Where can I find the exact historical sale prices?
The exact sold prices are not publicly displayed in detail. The listing service provides an option to request the precise sale history via email, which they manually provide without using your contact for marketing.