Property Overview: 650 Mcadam Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on a spacious 5,399 sqft lot in the Jefferson neighbourhood presents a straightforward, grounded opportunity. Built in 1953, it is notably newer than many homes in the immediate area, which can be an advantage for systems and structure. The 1,100 sqft living space is complemented by a renovated basement, adding functional space, and includes a detached garage.
Its primary appeal lies in its solid positioning within the local market. The data shows the home consistently ranks "above average" within Jefferson for its assessed value, lot size, and year built, suggesting it represents good value relative to its direct neighbours. It’s not an outlier in any category city-wide, which indicates a stable, predictable investment profile rather than a speculative one.
This property would suit a practical buyer—perhaps a first-time homeowner, a small family, or an investor—who prioritizes a sensible, move-in-ready foundation (thanks to the renovated basement) over luxury finishes. It’s for someone who values a bit more modern build in an established neighbourhood and appreciates the potential of a large lot. The detached garage is a practical asset for storage, a workshop, or parking in a city with harsh winters.
Section 2: Frequently Asked Questions
1. What does "above average for assessed value in Jefferson" actually mean?
It means the home’s official assessed value is higher than roughly 72% of comparable properties in the Jefferson neighbourhood. This often reflects a combination of its lot size, newer construction date (for the area), and improvements like the renovated basement, suggesting it is viewed as a stronger-than-average asset within its local market context.
2. Is the renovated basement a legal suite?
The provided details state the basement is "renovated" but do not specify if it is a legal, rentable suite. This is a critical point to verify with the listing agent and city permits, as it impacts value, insurance, and potential rental income.
3. How does the sold price history work?
The listed sold price (e.g., $30.5k ~ $33.5k in 7/2023) is a range based on public data. To get the exact sale price, you must request it via email from the site. This is a common practice to verify serious interest and provide accurate data manually.
4. The home is newer than many on the street. Is that a major advantage?
Potentially, yes. A 1953 build date is 10+ years newer than the area average of 1943. This can mean updates to original construction methods, and possibly less immediate concern for major age-related repairs (like original plumbing or electrical) compared to much older homes nearby.
5. What are the implications of a detached garage?
It offers flexibility for use as a workshop or storage without impacting the home's living space. The trade-off is that you must go outside to access it, which can be less convenient during Winnipeg winters compared to an attached garage. It may also present future potential for a lane-way structure, subject to zoning.