379 Madison Street

Property Overview & Appeal

This one-and-a-half storey home on Madison Street in Winnipeg's Kensington neighbourhood presents a straightforward, grounded opportunity. Built in 1945, it's notably older than many city homes, yet its assessed value is modest, especially when compared to the wider Winnipeg market. With just over 1,000 square feet of living space and a detached garage on a standard city lot, it offers the essential components of homeownership without excess.

Its primary appeal lies in its affordability and its position in a stable, established community. The data suggests it's a home that doesn't stand out dramatically within its immediate area—it's consistently around the average for the street and Kensington in terms of size, lot, and value. This makes it a predictable and potentially lower-pressure entry point into the market. It would suit a first-time buyer, an investor looking for a rental property, or someone seeking a modest, no-frills home who values character and location over modern square footage. A thoughtful perspective is that its older vintage (pre-1950) might appeal to those interested in the architectural character of that era, though it likely implies a need for ongoing maintenance and updates.

Frequently Asked Questions

1. Why is the assessed value so much lower than the city-wide average?
This is common for older, more modest homes in established neighbourhoods compared to newer or larger homes in expanding suburban areas. The assessed value reflects the property's market value for taxation purposes within its specific local context.

2. What does "one-and-a-half storey" mean for this home?
Typically, this style features a main floor with living areas and a second floor under sloping roof lines, often containing bedrooms. It can mean cozy, character-filled spaces but sometimes with less full-height ceiling space on the upper level compared to a full two-storey.

3. The home sold in 2019 for a relatively low price. What does that indicate?
The prior sale price aligns with the home's low assessed value and suggests it has been an affordable property for some time. It's important to obtain the exact sale details and have a current inspection to understand the home's condition, as the price may reflect its vintage and potential need for updates.

4. How does the lot size compare?
At just under 4,500 square feet, the lot is fairly typical for the Kensington area. It offers a standard outdoor space for a city home—sufficient for a garden and patio but not an unusually large yard.

5. Is the detached garage a significant advantage?
Yes, especially in an older neighbourhood where many homes may only have a carport or on-street parking. A detached garage provides secure storage and parking, a practical asset that adds tangible utility and value.