Property Summary: 451 Mcadam Avenue, Winnipeg
Key Characteristics & Appeal
This one-storey home on Mcadam Avenue in the Jefferson neighbourhood presents a practical and straightforward opportunity. Its key characteristics include a renovated basement, a detached garage, and a 1,042 sqft living space that is very typical for the immediate area. Built in 1950, the house is of a vintage common to its surroundings. The lot size of 4,087 sqft is modest, ranking below average for the street and city, which may appeal to those seeking lower exterior maintenance.
The primary appeal lies in its consistency within the local market. The home's assessed value and living area consistently rank as "around average" when compared directly to its Jefferson neighbours and those on Mcadam Avenue itself. This suggests a property that is neither over-improved nor under-improved for its location, offering a stable, known quantity. The renovated basement adds functional living space and modern convenience.
This property would best suit a pragmatic buyer—perhaps a first-time homeowner, a downsizer, or an investor—who values a turnkey basement and seeks a home that aligns squarely with neighbourhood norms without unexpected premium costs or major discrepancies. Its average metrics indicate a lower risk of overpaying relative to the immediate area, making it a sensible, grounded choice.
Frequently Asked Questions
1. Is the assessed value a reliable indicator of the likely selling price?
While the assessed value ($28.5k) is a municipal figure for tax purposes, it is crucial to note the sold price history. The home last sold in late 2017 for an estimated range of $19.5k–$22.5k, which was significantly above the average for the city at that time. Market conditions have changed, so a current market evaluation is essential.
2. How does the lot size impact the property?
At 4,087 sqft, the lot is below average for the street, neighbourhood, and city. This typically means a smaller yard, which can be a benefit for those wanting less landscaping work, but may be a consideration for buyers desiring extensive outdoor space or future expansion.
3. What does "around average" for the living area really mean?
With 1,042 sqft, this home is very typical for Jefferson. You are unlikely to find significantly more or less space for a similar price in this specific area, which helps set clear expectations during your search.
4. The home was built in 1950. Should I be concerned about major updates?
The listing specifically notes a renovated basement, suggesting some modernization. However, the core structure and major systems (like roof, plumbing, electrical) are 76 years old. A thorough inspection is advised to understand the condition of these older components.
5. How does this property compare to the wider Winnipeg market?
Citywide comparisons show this home's assessed value and lot size rank "below average," while its living area is "around average." This highlights that Jefferson and Mcadam Avenue represent a more affordable segment of the Winnipeg market, offering value for living space but with more modest land and assessed values.