Property Overview
This 1925 one-storey home at 292 Mcadam Avenue is a compact, historically grounded property in Winnipeg's Jefferson neighbourhood. Its primary appeal lies in being an affordable entry point into homeownership with a recently renovated basement, offering functional living space on a manageable 3,600 sqft lot. The detached garage adds practical utility. Key characteristics include a living area of 784 sqft, which is notably smaller than area averages, and an assessed value significantly below the citywide benchmark.
The property would suit first-time buyers or investors seeking a lower-cost option with renovation potential, particularly those comfortable with a smaller, character home footprint. Its below-average metrics across the board suggest it’s a value-play rather than a premium offering. A thoughtful perspective is that this home represents a chance to own a piece of Winnipeg’s early 20th-century housing stock without the premium often attached to fully updated heritage homes, though it likely requires a vision for its future.
Frequently Asked Questions
1. Is the home significantly smaller than others in the area?
Yes. With 784 sqft of living space, it ranks in the bottom quarter for size compared to similar homes on its street and in the Jefferson area.
2. What does the "renovated basement" entail?
The listing confirms the basement has been renovated, but specifics on finish quality, permits, or layout are not provided in the public data. This would be a key point for buyer due diligence.
3. How does the assessed value relate to market price?
The assessed value is $25,900, which is a municipal valuation for tax purposes. The last recorded sale was in March 2021 for an estimated $22.5k-$25.5k. Market price is determined by current conditions and may differ.
4. What are the implications of the home's age?
Built in 1925, the home is older than most in the city. This can mean character and established neighbourhoods, but also warrants thorough inspections for aging components like wiring, plumbing, and the foundation.
5. Is the lot size a limitation?
At 3,600 sqft, the lot is smaller than area averages. This means lower maintenance but also limited space for expansions or large outdoor amenities. The upside is a more efficient, manageable property.