Property Overview: 281 Mcadam Avenue, Winnipeg
Key Characteristics & Buyer Appeal
This one-and-three-quarter storey home, built in 1921, presents a classic Winnipeg character property with practical updates. Its key appeal lies in its balance of renovated fundamentals and manageable scale. The home features a renovated basement and a detached garage, situated on a modest 3,608 sqft lot. With 1,056 sqft of living space, it offers a comfortable footprint for a smaller household or first-time buyer.
The data reveals a home that is consistently "around average" within its immediate Jefferson neighbourhood and on its street for both living area and assessed value, suggesting it fits comfortably within the local market context. Its appeal is grounded in being a solid, unpretentious offering. It would suit a buyer looking for a character home without the extensive maintenance often required of century-old properties, thanks to the renovated basement. It's also a practical choice for those who value a detached garage for storage or projects. A thoughtful perspective is that its smaller lot and average neighbourhood metrics could be seen as an advantage, offering lower maintenance and a predictable, stable investment in a well-established community without the premium of a larger, more demanding property.
Frequently Asked Questions
1. How does this home's value compare to others in Winnipeg?
The assessed value is below the city-wide average, ranking in the top 72% (meaning it's valued lower than about 72% of homes in Winnipeg). This indicates it represents a more affordable entry point into the Winnipeg market compared to the typical city home.
2. What should I know about a home built in 1921?
While the basement has been renovated, a home of this age will have character and potential considerations typical of its era. Prospective buyers should pay special attention to the condition of original elements like wiring, plumbing, and the foundation during an inspection.
3. Is the lot size a limitation?
The land area is below average for the street, neighbourhood, and city. This means smaller outdoor maintenance but less private space. It's a practical fit for those not wanting extensive yard work but may not suit those seeking significant gardening or outdoor recreation space.
4. What does the sold price history tell us?
The home sold in March 2021 for an estimated range of $255k-$285k. This historical data provides a benchmark, but the current market value will be influenced by conditions, updates since the last sale, and the formal assessed value of $295k.
5. How does the living space compare to nearby homes?
At 1,056 sqft, the living area is slightly below the average for Mcadam Avenue but slightly above the average for the wider Jefferson area. This suggests the home offers a fairly typical amount of space for this specific community.