Property Overview
This 2020-built bi-level home at 257 Mcadam Avenue offers a distinctly modern option in Winnipeg's Jefferson neighborhood. Its primary appeal lies in its rarity as a nearly new construction in an area predominantly composed of much older homes. With 955 sqft of living space and a standard 4,027 sqft lot, the home is compact and efficient. The property features a basement (unrenovated) and no garage.
The home’s standout characteristic is its age. It ranks in the top 1-3% for being newer compared to homes on its street, in Jefferson, and across the entire city. This translates to likely benefits from modern building codes, materials, and systems, potentially reducing immediate repair costs. While its living and land space are below average for its immediate area, its assessed value is notably above average locally, suggesting the market places a premium on its newness.
This property would suit a first-time buyer or downsizer seeking a low-maintenance, modern home without leaving the established Jefferson area. It’s also a practical choice for an investor looking for a newer asset with potentially lower upkeep demands for tenants. The trade-off is clear: you gain a contemporary structure but with less interior and yard space than many neighboring properties.
Frequently Asked Questions
Q: How does the property's "below average" living space impact its livability?
A: At 955 sqft, the home is efficient and may suit those looking to minimize cleaning and utility costs. The bi-level design can help separate living and sleeping areas within a smaller footprint. Buyers should consider if the layout meets their spatial needs, as the square footage is modest.
Q: The assessed value is "above average" for the street and neighborhood. Is this a concern?
A: Not necessarily. This typically reflects the significant value added by the home's 2020 construction date compared to older homes around it. It indicates the property is assessed favorably relative to its immediate peers, but market price will be determined by current conditions.
Q: What are the implications of having an unrenovated basement?
A: This presents both a blank canvas and a future project. It offers ample storage or future expansion potential, but any finishing will require additional investment. As the home is newer, the basement is likely well-structured and dry, which is a positive starting point.
Q: There's no garage. What are the parking and storage solutions?
A: The property likely relies on driveway and street parking. Prospective buyers should verify the driveway capacity and local street parking regulations. The unrenovated basement can offset some storage limitations typically solved by a garage.
Q: The home sold in 2020. Why is there only one recorded sale?
A: As a 2020 build, the sale that year was likely its first sale from the builder/developer to the first owner. This is normal for a newer construction and means the current sale will establish its first true resale market price.