Property Overview
This home at 702 Madeline Street presents a compelling mix of modern convenience within a well-established neighborhood. Its key appeal lies not in sheer size, but in its relative newness and strong valuation within its immediate area. Built in 1995, it is a significantly newer construction compared to the average home on its street and in the Victoria West community, which predominantly features houses from the 1940s. With 988 sqft of living space, it is comfortably in line with the local averages for the street and neighborhood, though more compact than the city-wide average.
The property’s most standout characteristic is its assessed value for taxes, which ranks in the top 4% both on its street and in the wider community. This suggests a perception of above-average quality or desirability for the area. The lot size is manageable at 3,660 sqft, typical for the locale but smaller than the Winnipeg average, implying lower maintenance.
This home would suit first-time buyers or downsizers seeking a modern, low-maintenance property in a central neighborhood without the concerns of an older home's upkeep. It’s also a smart choice for value-focused buyers who appreciate a home that stands out positively in its immediate micro-market, even if some metrics are more modest on a city-wide scale.
Frequently Asked Questions
1. The living space is below the city average. Will it feel too small?
While the square footage is below the Winnipeg average, it is very close to the average for both Madeline Street and the Victoria West community. This indicates the home is typical for the area and likely designed for efficient, comfortable living in an urban neighborhood.
2. Why is the tax assessment so high compared to neighboring homes?
Ranking in the top 4% locally for assessed value is a significant positive. It typically reflects factors like the home's newer construction (1995), potential upgrades, quality of finishes, and overall condition compared to the many older homes in the vicinity. This can be a marker of good value retention.
3. What does the 1995 build year mean for maintenance?
A 1995 build is a major advantage. It means major systems (roof, wiring, plumbing) are decades newer than those in a typical pre-war home common in the area, potentially reducing immediate repair costs and offering modern building standards.
4. Is the lot size a disadvantage?
The lot is smaller than the city average but standard for Victoria West. This translates to less yard work and upkeep, which can be a benefit for those seeking a more lock-and-leave lifestyle or preferring to spend less time on maintenance.
5. How should I interpret the different rankings (street, community, city)?
The most relevant comparisons are at the street and community level, which reflect your daily living context. This home excels there, especially in newness and assessed value. The city-wide rankings provide broader context but are less indicative of the property's standing in its own desirable neighborhood.