Property Summary: 439 Mcadam Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on a standard-sized lot in Jefferson presents a practical and value-oriented opportunity. Its key characteristic is a renovated basement, adding functional living space to the 1,015 sqft footprint. The detached garage offers flexible storage or workshop potential. The home’s appeal lies in its strong position within its immediate context: its assessed value ranks well above average for both Mcadam Avenue and the wider Jefferson area, suggesting it is viewed favorably relative to its neighbors. This, combined with the recent basement renovation, indicates a property that has been maintained and updated.
It would suit first-time buyers or downsizers looking for a manageable, single-level layout in an established neighborhood. A thoughtful perspective is that while the living area is modest citywide, its above-average assessment for the area could signal a solid "value floor" and a lower risk of overpaying compared to the immediate market. It’s a home that makes more sense when evaluated against its direct peers rather than city-wide averages.
Section 2: Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home last sold in early 2022 for an estimated $35.5k-$38.5k, which was a top 9% price for the street at that time. The current assessed value is $33.2k, which remains in the top quarter for the area, indicating stable value retention.
2. Is the living space smaller than average?
At 1,015 sqft, it is slightly below the city-wide average but is very typical for the Jefferson neighborhood and Mcadam Avenue itself, where it ranks solidly in the middle of comparable homes.
3. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the scope. This is a key detail to clarify with the seller or agent regarding the finish, permits, and the nature of the space (e.g., recreational room, additional bedroom).
4. How old is the home, and what might that mean for maintenance?
Built in 1951, the home is newer than many on its street but is still 75 years old. Buyers should budget for and inspect age-related components, such as the roof, plumbing, and electrical systems, even with the recent basement updates.
5. Why is the city-wide assessed value average so much higher?
The city-wide average benchmark shown (~$390k) includes all property types across Winnipeg. The more relevant comparisons are the local averages for Jefferson ($28.3k) and Mcadam Avenue ($29.7k), against which this property scores notably higher.