Property Overview
248 Mcadam Avenue is a spacious, well-situated two-storey home in Winnipeg's Jefferson neighbourhood. Its primary appeal lies in its exceptional size relative to its surroundings, offering a rare amount of interior space on a generous lot. The home features an attached garage and a renovated basement.
Key Characteristics & Ideal Buyer
The standout feature of this property is its living area of 2,601 sqft, which places it in the top 1% of homes both on its street and within the Jefferson area. This means it offers significantly more space than typical local comparables, which average around 1,000-1,200 sqft. Built in 1962, it is a newer construction compared to many homes in the immediate vicinity. The lot size of 5,747 sqft is also above average for the Jefferson area. With a recently renovated basement, the home presents a move-in-ready canvas that balances original neighbourhood character with modern updates.
This home would best suit buyers who prioritize interior square footage and a larger property lot within a well-established community. It’s ideal for growing families needing ample room or for those who value space for hobbies, entertaining, or a home office. The property’s assessed value is notably higher than local averages, suggesting it is a premium offering in its micro-market, appealing to buyers looking for a long-term home in a stable area rather than a starter property.
Frequently Asked Questions
1. How does the property’s value compare to the city as a whole?
While the home is a top-tier property within its own neighbourhood and area, its assessed value is around the city-wide average. This indicates you are acquiring a home with above-local-average size and characteristics at a price that aligns with the broader Winnipeg market.
2. What is the significance of the home being newer than area averages?
Built in 1962, the home is notably younger than many neighbours. This can suggest updated infrastructure (like plumbing and electrical) compared to much older homes, potentially reducing the need for major system upgrades in the near term.
3. What can recent sold prices tell us?
The home sold in May 2022 for between $365,000 and $395,000. This recent transaction provides a concrete benchmark for its market value, showing active demand for premium properties in this location.
4. Is the renovated basement a legal suite?
The listing notes a "renovated basement" but does not specify it as a legal secondary suite. Buyers should verify its current configuration and compliance with local regulations if considering rental income potential.
5. How does the lot size impact the property?
At nearly 5,750 sqft, the lot is larger than most in Jefferson. This offers more private outdoor space, potential for landscaping or gardening, and a greater sense of separation from neighbouring homes compared to tighter lot lines.