Property Overview: 347 Mcadam Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This two-storey home on Mcadam Avenue in the Jefferson neighbourhood presents a solid, grounded opportunity. Built in 1949, it offers 1,258 sqft of living space with a renovated basement and a detached garage, sitting on a standard city lot of just under 5,000 sqft.
Its primary appeal lies in its established location and straightforward value. The home's metrics—living space, assessed value, and lot size—consistently rank as "around average" to "above average" within its immediate area and the Jefferson neighbourhood. This suggests a property that is well-aligned with its community, not over-improved nor underdeveloped. The renovated basement adds functional living space, a practical update for modern needs.
This home would suit a pragmatic first-time buyer or a downsizer looking for a manageable, no-fuss property in a settled area. It’s for someone who values neighbourhood character over new construction and appreciates a home that doesn’t require immediate major updates. The detached garage and decent lot size also offer flexibility for hobbies, storage, or simple outdoor space.
A less obvious perspective: The home’s consistent "middle-of-the-pack" rankings in its locale can be a strength. It indicates stability and may offer a more predictable investment in a familiar area, avoiding the premium prices of top-tier streets or the potential challenges of lower-ranked ones.
Section 2: Frequently Asked Questions
1. What is the exact recent sale price?
Public data shows it sold between $365,000 and $395,000 in May 2022. The listing service offers to provide the exact sale price via email upon request.
2. How does this home compare to others in the area?
Within the Jefferson neighbourhood, this home ranks above average in size and assessed value compared to similar properties. On its specific street, Mcadam Avenue, it sits comfortably around the average for key features like living area and value.
3. What is the condition of the major systems, given the home's age?
While the listing confirms a renovated basement, the age of major systems like the roof, plumbing, and electrical is not detailed here. A thorough home inspection would be essential for a home built in 1949.
4. Is there potential for future expansion or renovation?
The lot size is standard for the area. Any significant expansion, like a large addition, would require checking with the city for zoning bylaws and setback requirements. The existing renovated basement may already address additional living space needs.
5. How does the assessed value relate to potential property taxes?
The assessed value for municipal taxes is listed at $31,500. It's important to note that this is not a market valuation. Property taxes would be calculated using this assessment and the city's mill rate, which is separate from the home's selling price.