Property Overview: 563 Mcadam Avenue
Section 1: Key Characteristics & Appeal
This home at 563 Mcadam Avenue is a compact, post-war property built in 1947, offering a practical entry point into the Winnipeg housing market. Its key characteristic is its efficiency: with 654 sqft of living space, it is notably smaller than most homes in the city, ranking within the smallest 2% overall. This translates to a correspondingly lower tax-assessed value of $268,000, which is below the citywide average but aligns more closely with the norms of the local Jefferson community.
The appeal lies in its affordability and manageable scale. It suits first-time buyers, downsizers, or investors seeking a lower-cost property with a standard-sized lot (approximately 4,500 sqft) that is typical for the area. A less obvious perspective is that a home of this size and vintage may offer simpler, more cost-effective maintenance and utility costs compared to larger, newer builds. It represents a pragmatic choice for those prioritizing financial accessibility and a lower footprint over spaciousness, positioning it as a strategic base in a well-established neighborhood.
Section 2: Frequently Asked Questions
1. Is the living space too small?
At 654 sqft, the home is significantly cozier than the Winnipeg average. It is best suited for individuals, couples, or those comfortable with efficient, minimalist living. The floor plan layout will be a critical factor in its functionality.
2. How does the tax assessment affect the price?
The assessed value of $268,000 is below the city average, which generally suggests a more affordable purchase price and correspondingly lower property taxes. It's advisable to compare this assessment with recent sale prices of similar nearby homes for context.
3. What should I know about a house built in 1947?
While the building age is typical for the street and area, a home from this era may have original systems (like plumbing or electrical) that could require updates or maintenance. A thorough professional inspection is essential.
4. Is the lot size a pro or a con?
The lot is just under 4,500 sqft, which is very standard for the local community. It provides adequate outdoor space for gardening or relaxation without the high maintenance of a much larger yard, offering a balanced compromise.
5. What do the ranking percentages actually mean?
They show how this property compares to others in various zones. For example, being in the "top 94%" for living size on its street means 94% of homes on Mcadam Avenue are larger—it's a ranking of position, not a quality score. It effectively highlights where this property sits on the spectrum from compact to expansive.