Property Overview: 558 Mcadam Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1949, presents a practical and grounded opportunity in Winnipeg's Jefferson neighbourhood. Its key appeal lies in its solid, average metrics for the immediate area, offering a sense of stability without premium pricing. The 1,252 sqft living space is comfortably above average for Jefferson, and the 5,396 sqft lot size is notably generous for the neighbourhood. A recently renovated basement adds modern functionality to the classic structure, while the detached garage provides flexible storage or workshop space.
The home suits buyers looking for a straightforward, no-fuss property in a mature community. It’s particularly well-matched for first-time homeowners seeking a manageable entry point, or for practical investors wanting a character home with updated essentials. Its assessed value positions it as a sensible, mid-range option within Jefferson, suggesting a lower risk of overpaying compared to more trendy areas. A thoughtful perspective is that this property represents the "backbone" of the city's housing stock—reliable, spacious enough for a family, and offering more land than newer subdivisions, which is a lasting value often overlooked.
Section 2: Frequently Asked Questions
1. How does this home truly compare to others in the area?
The data shows it is consistently around or above the neighbourhood average for key features like living area and lot size. It’s not the newest or largest on the street, but it holds its own as a solid, middle-of-the-pack property in Jefferson, which can mean less competition and more realistic pricing.
2. What does the assessed value indicate?
The assessed value is around average for both the street and Jefferson, but below the citywide average. This typically reflects the neighbourhood's overall market position rather than the condition of this specific home, and can sometimes indicate a relatively affordable tax base.
3. Is the renovated basement a full suite?
The listing notes a renovated basement but does not specify if it is a legal suite. This is a key detail to verify with the seller or a professional, as it impacts rental potential and insurance.
4. What are the implications of the home's age (1949)?
While the structure is nearly 80 years old, the renovated basement suggests some updates. Buyers should budget for expected maintenance common to houses of this era, such as potential updates to original plumbing, wiring, or windows, but may also appreciate the character and build quality.
5. How usable is the lot size?
At over 5,300 sqft, the lot is a significant asset for Jefferson. This allows ample space for gardening, recreation, or future additions like a shed or deck, providing a suburban feel within the city that is harder to find in newer developments.