Property Overview: 270 Mcadam Avenue, Winnipeg
Key Characteristics & Appeal
This single-storey home on Mcadam Avenue in the Jefferson neighbourhood presents a compelling opportunity centered on space and value. Its primary appeal lies in its generous proportions, both in the 2,100 sqft living area and the 7,664 sqft lot, which rank in the top 2-3% for the street and area. The home is notably larger and sits on more land than most comparable properties nearby. Built in 1961, it is newer than many homes in Jefferson, and features a renovated basement and a detached garage. The assessed value is positioned in the elite tier for the immediate area, suggesting a strong foundational value relative to its neighbours.
Its appeal is for the practical buyer who prioritizes indoor and outdoor space over a modern build date. It would suit a family looking for room to grow, a multi-generational household benefiting from the renovated basement, or a buyer who sees value in a property that stands out in its local market for its lot size and square footage—a rarity in established neighbourhoods. A thoughtful perspective is that this property offers the "bones" of a premium property (space and location) without the premium price tag of a fully modernized home, making it a strategic canvas for someone willing to personalize over time.
Frequently Asked Questions
1. How does the sold price from 2024 relate to the assessed value?
The home sold for between $555k-$585k in April 2024, which is significantly higher than its $461k assessed value. This is common, as assessed values for taxation purposes often lag behind current market sale prices.
2. What does the "Elite" or "Top X%" ranking mean for each metric?
These rankings compare this specific property against groups of similar homes. For example, its living area is larger than 97% of similar homes on Mcadam Avenue, putting it in the "Top 3%." This data highlights where the property excels or differs from the norm in its immediate vicinity, city-wide, and within the Jefferson area.
3. Is the renovated basement a legal suite?
The listing notes a "renovated basement" but does not specify it as a legal secondary suite. Buyers should verify its compliance with local regulations if considering rental income or separate living quarters.
4. What are the implications of a 1961 build date?
While newer than many homes in Jefferson, a 65-year-old home will likely have older core components, like plumbing, electrical, and the roof. The renovated basement is a positive update, but a thorough inspection is essential to understand the condition of the original structure and systems.
5. Why is the city-wide average assessed value so much higher?
The city-wide average of $390k includes all types of homes across Winnipeg. The more relevant comparisons are the local averages for Jefferson ($283k) and Mcadam Avenue ($297k), against which this property's $461k assessment is notably higher, indicating it is valued well above its immediate peers.