Property Overview
This 1955 one-storey home at 728 Mcadam Avenue in Winnipeg's Garden City neighborhood offers a practical layout with 1,176 sqft of living space and a renovated basement. It sits on a 5,403 sqft lot and features a detached garage. The home presents a mix of above-average condition for its immediate street and a value-oriented entry point into a established community.
Key Characteristics & Appeal
The primary appeal of this property lies in its balance of updates and location-specific value. While its living space is average for the area, its assessed value ranks highly on its own street (Top 30%), suggesting it is in better condition than many direct neighbors. The renovated basement adds functional living space. The year built (1955) is notably newer than many homes on Mcadam Avenue, potentially indicating fewer concerns associated with very early 20th-century construction.
It would suit a first-time homebuyer or practical investor looking for a solid, updated baseline in a mature neighborhood. The detached garage is a key asset for hobbyists or those needing workshop or additional storage space. A thoughtful perspective is that this home represents a "street-level standout"—it may offer more modern comforts than the immediate surrounding houses, which can be a smart strategy for finding value. However, its lot size and assessments are below the broader Garden City averages, positioning it as a more affordable option within the wider community.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The details provided do not specify if the renovation created a legal secondary suite. This is a crucial point to verify with the listing agent and city permits, as it impacts value, insurance, and utility costs.
2. How does the assessed value relate to the likely selling price?
The assessed value ($32.4k) is for municipal tax purposes and is typically far below market value. Recent sold price data (showing a range of $255k-$285k in 2018) and current market conditions are better indicators of potential listing price.
3. What are the implications of the home being newer than most on the street?
A 1955 build is newer than the street average (1943), which can be positive. However, it still means major original components like plumbing, electrical, or the roof are likely at or beyond their typical lifespan and should be inspected carefully.
4. The lot is smaller than the Garden City average. Is that a major drawback?
The 5,403 sqft lot is still a good size for a single-family home, offering decent outdoor space. While below the neighborhood average, it may require less maintenance and can be a reasonable trade-off for a lower price point.
5. Why is there such a big difference between the street and neighborhood rankings for assessed value?
The home ranks well on its own street (Top 30%) but lower in Garden City (Top 84%). This indicates Mcadam Avenue may have more modest homes overall. The property appears to be a stronger performer on its immediate block compared to the more varied housing stock across the entire neighborhood.