Property Overview: 466 Mcadam Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1914, presenting a classic opportunity in Winnipeg's Jefferson neighbourhood. Its key characteristic is its modest scale, with a living area of 616 sqft that is notably smaller than most comparable homes in the area, city, and on its own street. This is balanced by a decently sized lot of 4,210 sqft, which is closer to the local average. The home features a renovated basement and a detached garage.
The primary appeal lies in its position as an accessible entry point into the market. With a historically low sold price and a current assessed value significantly below city averages, it represents a lower barrier to entry. This isn't a move-in-ready showcase; its appeal is for a buyer who sees potential in the lot size and the renovated basement, and who is comfortable with a home that requires updates or who values simplicity and manageability. It would suit a first-time buyer, an investor looking for a rental property, or someone seeking a minimalist footprint without the burden of a large mortgage. A less obvious perspective is that its age and smaller size could translate to lower utility costs and less ongoing maintenance compared to larger, newer homes, provided systems are in good order.
Section 2: Frequently Asked Questions
1. Is the house in livable condition?
While the listing notes a renovated basement, the main house, built in 1914, will likely require inspection and potentially significant updates to mechanical systems, insulation, and finishes. Viewing it as a "shell" or project is advisable.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the home's very small size (616 sqft) relative to city norms, its age, and its market position. It is assessed based on its current state and comparable sales, not on potential.
3. What are the real costs beyond the purchase price?
Given the age, budgeting for immediate repairs, updates to meet modern standards, and higher-than-expected maintenance is crucial. Property taxes will be based on the low assessment, which is a financial positive.
4. Is the lot subdividable or a good candidate for expansion?
The 4,210 sqft lot is a key asset. You should consult with the City of Winnipeg's planning department to understand zoning bylaws and any potential for a future addition, garden suite, or lot subdivision.
5. How accurate are the sold price ranges shown?
The listed price ranges are estimates from public data. For precise historical sale figures to inform your offer, you must request the exact sold price history directly from the site via email, as noted in the details.