Property Overview
This 875 sqft property at 3-506 Madeline Street in Victoria West presents a distinct value profile. Its key appeal lies in offering above-average interior space for the immediate area while carrying a below-average property tax assessment. Built in 1959, it is typical for its specific street but is older than most homes in the wider community and city.
Key Characteristics & Appeal
The home’s most compelling feature is its generous living space relative to its neighborhood. At 875 sqft, it ranks 1st out of 12 on Madeline Street and 1st out of 53 in Victoria West, significantly larger than the local averages (761 sqft and 748 sqft, respectively). This makes it a standout for buyers seeking more room in these specific areas. However, its city-wide ranking for size is average (67th percentile), providing useful context.
Its financial appeal is anchored in a municipal assessment for taxes of $126,000. This is near the street average but is notably lower than both the Victoria West community average ($138,000) and significantly below the Winnipeg city average ($256,000). This suggests potential for relatively lower property taxes, a key ongoing cost.
This combination suits practical buyers who prioritize interior square footage and operating cost efficiency over a newer build or a premium city-wide assessment. It’s a strategic fit for first-time homeowners or investors looking for a value position in a central community, where the space-per-dollar ratio within the micro-market is favorable.
Frequently Asked Questions
1. How does the living area compare to nearby homes?
This property offers more interior space than most comparable homes on its street and in the Victoria West community, ranking 1st out of 53 locally. City-wide, its size is close to the average.
2. What does the assessment value indicate?
The $126,000 assessment is used to calculate property taxes. It is below the averages for both the broader community and the city, which typically suggests a correspondingly lower annual tax burden compared to many other homes.
3. Is a 1959 build a concern?
The build year is exactly the average for Madeline Street but is older than most homes in Victoria West and Winnipeg. This is typical for the core of the city and suggests a prospective buyer should prioritize a thorough inspection to understand the condition and any needed updates.
4. Who would this property suit best?
It is well-suited for buyers who value space and cost-efficiency within a specific neighborhood over a newer construction date. It represents a practical choice for gaining above-average square footage in Victoria West at a running cost that appears favorable relative to the area.
5. How should I interpret the ranking data?
The rankings show how this property compares to similar ones in three expanding circles: its immediate street, the Victoria West community, and all of Winnipeg. This helps identify if its features (like size or assessment) are a local advantage or a broader market trait.