Property Overview: 91 Mcadam Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a classic, century-old two-storey home in Winnipeg's Seven Oaks neighbourhood, built in 1907. Its key characteristic is space: it offers a generous 1,731 sqft of living area on a large 4,074 sqft lot, placing it in the top tier for size both on its street and within the wider city. The home includes a basement, which is noted as unrenovated, presenting both a project and an opportunity for future expansion or storage.
The appeal lies in its established neighbourhood setting and the tangible potential rooted in its generous proportions. The lot size is a significant asset, offering ample outdoor space rare for older homes. While the assessed value is modest, the home's living area ranks highly, suggesting a property where the interior space may outpace its current valuation—a point of interest for value-conscious buyers. It would suit a buyer looking for a character home with room to grow, who is comfortable with a property that has maintained its original basement and may require updates. It’s a practical choice for those prioritizing square footage and lot size over modern finishes, appealing to hands-on owners or long-term investors who see value in the underlying assets rather than a turn-key presentation.
Section 2: Frequently Asked Questions
1. What does "basement, not renovated" typically mean for a home of this age?
It usually indicates an original or largely untouched cellar space. It likely has foundational utility (furnace, laundry) but may lack finished walls, ceilings, or modern flooring. It represents potential for future development but should be inspected for moisture and structural integrity.
2. The home sold recently in 2022. Why is it back on the market?
While the listing doesn't specify a reason, short-term ownership can result from many life changes (job relocation, family circumstances) and is not necessarily a reflection on the property itself. Reviewing the sales history can provide context on market trends.
3. How significant is the large lot size?
Very. A lot over 4,000 sqft in an older neighbourhood provides valuable outdoor space for gardening, recreation, or future additions like a garage or deck. It also often contributes to better light and privacy compared to tighter lots.
4. The year built is 1907. What should I be concerned about?
Key considerations for a home of this age include the condition of major systems (wiring, plumbing, roof, foundation) and historical materials like plaster and lathe. A thorough inspection is essential to understand any needed updates or repairs.
5. The assessed value seems low relative to the living space. Why?
Municipal assessed value for taxation purposes doesn't always directly correlate with market value or interior condition. A high living area rank with a moderate assessed value can sometimes indicate a home where the interior space is a strong feature, but the assessment may reflect the age, condition of finishes, or the unrenovated basement. Market value is determined by current sale prices, not assessment.