Property Overview

This home at 612 Madeline Street presents a compelling mix of established character and tangible value. Its primary appeal lies not in sheer size, but in the generous scale of its lot and its strong standing within its immediate, desirable Victoria West neighborhood. With 906 sqft of living space in a 1949 build, the house itself is modest and typical for the area, but the over 6,000 sqft land parcel is a significant asset, ranking in the top 5% locally. This creates a clear opportunity: the value is anchored in the land, offering potential for expansion, gardening, or simply enjoying ample outdoor space. The property tax assessment is above average for the street, suggesting the municipal valuation recognizes its desirable location and lot premium.

It would ideally suit a buyer who values a prime inner-city lot over a large existing footprint. This could be a downsizer seeking a manageable home with a spacious yard, a first-time buyer looking for a foothold in a sought-after community with future potential, or an investor attracted by the land value and stable neighborhood metrics.

Frequently Asked Questions

1. Is the living space too small compared to the average Winnipeg home?
Yes, the 906 sqft living area is below the citywide average. However, it is very close to the average for both Madeline Street and the Victoria West community, meaning it is a typical size for this specific, established area.

2. Why is the tax assessment relatively high for the street?
An assessment that ranks higher than the street average often reflects factors like the above-average lot size, the home's condition, and its specific location within the neighborhood. It indicates the city assesses this property as holding more value than many of its immediate neighbors.

3. What does the lot size ranking actually mean for me?
Ranking in the top 4% on the street and top 5% in Victoria West for land size means you are getting a much larger outdoor space than most properties nearby. This is a rare find in mature neighborhoods and offers privacy, room for additions, or a substantial garden.

4. As a 1949 home, should I be concerned about its age?
The build year is actually newer than the average for both the street and Victoria West. While due diligence for an older home is always necessary, it is a relatively newer property within its historic context, which can be an advantage.

5. How should I interpret the "below average" citywide rankings?
This perspective is important. While the home ranks lower citywide in size and assessment value, it performs at or above average within its own community. This highlights that you are paying for a specific, desirable location. You're acquiring a property that is competitive and well-positioned in its local market, which is often more relevant than citywide comparisons.