Property Overview
This 780 sqft home at 601 Madeline Street in Victoria West presents a practical and affordable entry point into the Winnipeg market. Built in 1952, it is newer than many houses on its street and in the wider neighborhood. With an assessed value of $252K, it sits below the citywide average, offering a price advantage. The lot size of 3,659 sqft is modest but typical for the immediate area.
The appeal here is rooted in value and potential. It suits first-time buyers or investors looking for a lower-cost footprint in a central neighborhood. The house may appeal to those who prioritize location and a manageable property size over modern square footage, seeing an opportunity to customize a solid, post-war home. A less obvious perspective is that its below-average metrics across the board, within an otherwise average-strength neighborhood, could indicate a "value-add" opportunity for renovation, potentially yielding greater proportional gains compared to more updated homes on the street.
Frequently Asked Questions
1. How does this home’s value compare to others in the area?
The assessed value of $252K is around the average for Madeline Street but below the averages for both the Victoria West neighborhood and the city of Winnipeg as a whole, suggesting a competitively priced listing for this location.
2. Is the living space smaller than typical homes?
Yes. At 780 sqft, the living area is below the average for the street, neighborhood, and city. This indicates a compact, efficient layout suited for individuals, couples, or small families.
3. What does the "year built" ranking tell me?
Built in 1952, this home is newer than most on its street (ranking #11 out of 50) and about average for the wider neighborhood. This suggests it may have undergone fewer foundational aging issues than some older neighbors, though interior updates will vary.
4. Is the lot size a disadvantage?
The lot is 3,659 sqft, which is below average for the street and city. However, it is very close to the neighborhood average. It provides a standard urban yard space but may not suit those seeking extensive outdoor areas.
5. Who would this property be best for?
It is ideally suited for budget-conscious buyers seeking entry into the market, such as first-time homeowners or investors. It may also appeal to downsizers or those who prefer a lower-maintenance property with the potential to increase value through strategic updates.