Property Overview: 324 Madison Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1945, presents a classic Winnipeg character home opportunity in the Kensington neighbourhood. Its key appeal lies in a combination of established community charm and practical metrics. With 1,037 sqft of living space, it sits above the average for both its immediate street and the Kensington area, offering a comfortably sized footprint. The nearly 4,800 sqft lot is a significant asset, providing ample outdoor space that is well above local averages, a rarity for inner-city neighbourhoods.
The home’s assessed value positions it as an accessible entry point into the market, especially within its immediate context. It suits first-time buyers looking for a character home with room to grow, or value-focused investors attracted to the lot size and neighbourhood stability. A thoughtful perspective for potential buyers is the home’s relative age: while it is older than most city-wide, it is actually newer than many on its street and in Kensington, suggesting it may be among the more updated post-war builds in the area. The recent sale in 2024 indicates a fresh assessment of its market value.
Frequently Asked Questions
1. How does the home’s value compare to the wider Winnipeg market?
While the assessed value is above average for Madison Street and Kensington, it is below the city-wide average. This highlights its affordability within a desirable, established neighbourhood compared to newer or larger suburban homes.
2. Is the lot size typical for the area?
No, the land area of 4,771 sqft is notably larger than the averages for both Madison Street and the Kensington area, offering more private outdoor space than many neighbouring properties.
3. What does the recent sale history tell us?
The property sold in August 2024. This recent transaction provides a clear, current benchmark for its market price, which can be more relevant than the assessed value for understanding today’s value.
4. Is a home from 1945 a concern?
The year built, 1945, is typical for the neighbourhood’s character. It’s important to note that it is actually newer than many comparable homes on the street, but a thorough inspection is always recommended to understand the condition of major systems and the roof.
5. How can I find out the exact price it sold for?
The exact sold price is not publicly listed in this summary. You can request the precise figure by email via the provided form on the listing page; the service commits to providing the accurate figure without using your email for marketing.