Property Overview

This one-and-a-half storey home on Madison Street in Kensington presents a classic Winnipeg character property with practical updates. Its key appeal lies in its above-average positioning within its immediate neighborhood. With 1,037 sqft of living space, it sits comfortably above the local average, and its renovated basement adds functional space. The detached garage and a land size of 4,771 sqft that is generous for the area offer valuable outdoor and storage potential. Built in 1945, the home is older than most in the city but is actually among the newer homes on its street, suggesting a well-established, stable streetscape.

The property would suit a first-time buyer or an investor looking for a character home in a central neighborhood without a massive footprint. It’s also a fit for someone who values a larger lot and the flexibility of a detached garage more than brand-new construction. The data indicates you’re paying for location and lot within Kensington more than sheer size city-wide, making it a smart choice for prioritizing neighborhood over maximum square footage.

Frequently Asked Questions

1. How does the value of this home compare to others in Winnipeg?
City-wide, its assessed value is below average, which is typical for an older, modestly-sized home in the central core compared to newer suburban builds. The value is concentrated in its desirable Kensington location and lot size.

2. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. This should be a key point of inquiry to understand if it’s a finished living space, a modernized utility area, or has legal suite potential.

3. Is the low historical sale price accurate?
The sold price history shows a very low range (e.g., ~$15.5k-$18.5k in 2016). This almost certainly refers to a nominal land transfer or partial interest sale, not a full market transaction. Always verify exact price history through official channels.

4. What are the implications of the home's age (1945)?
While older than the city average, it’s newer than many on its block. This age typically means character details but also warrants thorough inspections for aging components like plumbing, electrical, and the roof, even with a renovated basement.

5. How does the lot size benefit a buyer?
At nearly 4,800 sqft, the lot is above average for both the street and Kensington. This provides more private outdoor space, gardening potential, and flexibility for additions or a shed than many neighboring properties, a significant advantage in a mature neighborhood.