Property Overview: 707 Mcadam Avenue, Garden City, Winnipeg
Key Characteristics & Appeal
This one-storey home on a spacious 5,405 sqft lot presents a practical and value-oriented opportunity in Winnipeg's Garden City neighborhood. Built in 1955, it is notably newer than many homes on its street and in the immediate area, which may suggest fewer concerns related to the age of core components compared to neighbors. The living space is a manageable 1,008 sqft, offering a cozy footprint that is efficient to maintain and heat. A key feature is the renovated basement, which adds valuable finished space and modern appeal. The property includes a detached garage.
Its primary appeal lies in its strong assessed value proposition. The assessment is significantly above average for both Mcadam Avenue and the Garden City area, indicating that municipal valuation sees substantial worth here relative to nearby properties. This often correlates with solid improvements, lot desirability, or a combination of both. The last known sale was in 2019 for a price consistent with a fixer-upper or value-play at the time, suggesting potential for gained equity.
This home would suit a first-time buyer looking for a solid entry point with a renovated basement ready for use, or a downsizer seeking a single-level living arrangement without a sprawling yard. It’s also a candidate for an investor or handy buyer who sees value in the above-average assessment and the upside of a detached garage and large lot, possibly for future expansion or outdoor projects.
Frequently Asked Questions
1. What does the "above average" assessed value actually mean for a buyer?
While not a direct market price, a high assessment relative to the street and neighborhood often reflects municipal recognition of the property's condition, improvements, or lot value. It can be a positive indicator of underlying value but should be considered alongside a current market appraisal.
2. The home is smaller than area averages. How does that impact living here?
The 1,008 sqft living area is efficient and may lead to lower utility costs. The renovated basement effectively expands usable space. Buyers should consider if the main-floor layout and total space meet their long-term needs.
3. The lot is large, but ranked "below average" for Garden City. Is that a concern?
Not necessarily. Garden City has many very large lots. At over 5,400 sqft, this lot is still generous by city-wide standards and offers ample private outdoor space—it simply sits in a neighborhood with particularly sizable properties.
4. Why is the year built (1955) considered "above average" on the street?
This indicates that many homes on Mcadam Avenue are older, some significantly so (the street average is 1943). A 1955 build may benefit from slightly newer construction techniques and materials common to its era.
5. How reliable are the sold price ranges shown?
The ranges are based on public data. For precise historical sale figures to understand exact past valuation, you must request the exact sold price history via the provided email service, which is manually verified.