458 Mcadam Avenue

Property Overview: 458 Mcadam Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-storey home in the Jefferson neighbourhood presents a practical and straightforward opportunity. Its key characteristics are defined by solid averages within its immediate area. The 1,042 sqft living space and the 1950 build date are both typical for Mcadam Avenue, suggesting a home that fits comfortably within the established fabric of the street. A recently renovated basement adds modern livable space and is a significant functional upgrade. The detached garage offers flexible storage or workshop potential.

The primary appeal lies in its stability and value within a well-established community. For a buyer, it represents a known quantity—a home that isn't an outlier in size, age, or assessed value on its street or in Jefferson. This can be reassuring, indicating a lower risk of over-improvement for the area. The renovated basement immediately adds utility without being a project for the new owner.

This property would suit first-time buyers or practical downsizers looking for a manageable, single-level layout in a mature neighbourhood. It’s also a sensible fit for an investor seeking a stable rental property with recent updates in a core area. The home appeals to those who prioritize neighbourhood character and practicality over standout luxury or a large lot, as the land size is notably more compact than both local and city averages.

Section 2: Frequently Asked Questions

1. How does the assessed value relate to the likely market price?
The assessed value is a municipal figure for tax purposes and is typically much lower than market value. The last recorded sale in 2021 was in the $29.5k-$32.5k range, aligning with this assessed value. For current market price, consult a local real estate professional for a comparative market analysis.

2. What does the "below average" land area mean for me?
At just over 4,000 sqft, the lot is smaller than most in Winnipeg. This means lower maintenance for yards and snow clearing, but also less private outdoor space and potentially less room for future expansions like a large deck or addition, which would require checking zoning bylaws.

3. The home was built in 1950. What should I be aware of?
While the basement has been renovated, the core structure and main systems (like plumbing, electrical, and the roof) are from an older era. A thorough home inspection is essential to understand the condition and potential upcoming costs for these major components.

4. Is the renovated basement a legal suite?
The description notes a "renovated basement" but does not specify it as a legal secondary suite. You would need to verify with the seller or city records if it meets all code requirements for a separate rental unit, including proper egress, ceiling height, and electrical standards.

5. How does this home compare to others on the same street?
The data shows this home is very typical for Mcadam Avenue. Its living area, age, and assessed value all rank close to the middle compared to its 331 street peers. This suggests you are buying a standard home for the street, not a uniquely large, new, or highly valued one.