Property Overview

This 1946-built home on Madeline Street in Victoria West presents a practical and value-conscious opportunity. With 987 sqft of living space, it sits comfortably close to the average for both its immediate street and the broader community. The lot size of 4,248 sqft is also typical for the area. The standout characteristic is its property tax assessment value of $215,000, which is notably lower than the averages for the street, neighborhood, and city. This suggests a potentially lower property tax burden relative to surrounding homes.

Its primary appeal lies in this financial efficiency. It offers a chance to enter the Victoria West neighborhood—a central, established area—at an operating cost that undercuts many comparable properties. The home would suit a first-time buyer or an investor looking for a character home with a manageable footprint and a focus on long-term value over immediate size. It’s also a candidate for someone who values a standard city lot for gardening or outdoor space without the maintenance of a larger yard. A thoughtful perspective is that a home assessed below its peers can sometimes allow for renovation investments that aren’t immediately reflected in taxes, offering a degree of financial headroom for customization.

Frequently Asked Questions

1. What does the tax assessment ranking really mean?
The assessment value of $215,000 ranks in the bottom 15% on its street and bottom 10% city-wide among comparable homes. This typically translates to a lower annual property tax bill than your neighbors might pay, which is a significant, ongoing cost advantage.

2. Is the living space too small?
At 987 sqft, it’s very close to the Victoria West average (~976 sqft). It’s a compact footprint that is efficient to heat and maintain. While below the much larger city-wide average, it represents the scale of many well-utilized, classic homes in this central neighborhood.

3. What are the implications of a 1946 build date?
Built right after WWII, the home is of a vintage common to its core area. This means potential for classic architectural details but also a need for due diligence on the age and condition of major systems like plumbing, electrical, and the roof, which may have been updated over time.

4. How does the lot size compare?
The lot is just under a tenth of an acre, which is standard for Victoria West. It provides adequate private outdoor space but isn’t oversized. This is ideal for those who want a yard without the extensive upkeep of a larger lot, and it places the home in a denser, more walkable urban context.

5. Who is this home not ideally suited for?
Buyers whose top priority is maximum interior square footage for the dollar, or who prefer a brand-new, maintenance-free home, might find better options elsewhere. Its value proposition is rooted in location, lot, and relative tax efficiency rather than sheer size or modern construction.