Property Overview: 510 Mcadam Avenue, Winnipeg
Key Characteristics & Appeal
This is a notably modern and spacious one-storey home in Winnipeg's Jefferson neighborhood. Built in 2019, its key characteristic is its newness relative to the area, placing it in the top 1-2% of homes in Jefferson for year built. With 1,540 sqft of living space, it offers significantly more room than most local comparables. The appeal lies in this combination of a modern build with above-average space on a good-sized lot (over 6,000 sqft), coupled with a recently renovated basement and a detached garage.
Its standout feature is its assessed value, which ranks in the elite top 1% for its street and neighborhood. This suggests a property that has been substantially upgraded or built to a higher standard than surrounding homes. It would suit buyers looking for a move-in-ready, contemporary home without sacrificing lot size, and who value being in an established neighborhood without the maintenance concerns of an older house. It’s a practical choice for those wanting modern interiors and systems, but may also attract investors or buyers looking for a property that already stands out in terms of municipal valuation.
Frequently Asked Questions
1. Why is the assessed value so high compared to nearby homes?
The assessed value places this home in the top 1% for the area, which is uncommon. This typically reflects the modern construction (2019) and the renovated basement, suggesting finishes, materials, and systems that are superior to the neighborhood's older housing stock.
2. What does the sold price history indicate?
Public records show it last sold in late 2021 for an estimated range of $47.5k to $50.5k, closely aligning with its current assessed value of $49.8k. This indicates a stable valuation in recent years.
3. How does the living space compare practically?
At 1,540 sqft, this home offers about 50% more living area than the average Jefferson neighborhood home (~1,029 sqft). This means more room for families, home offices, or comfortable common areas than is typical for the area.
4. What are the implications of a detached garage?
A detached garage offers flexibility—it can be used as a workshop or project space without concerns about fumes or noise entering the house. It may also provide more options for future landscaping or garden layout on the lot.
5. Is the property likely to have higher property taxes?
Given its assessed value is in the top percentile for the neighborhood, it is almost certain that the property taxes will be correspondingly higher than those for most surrounding, older homes. This is an important factor for monthly budgeting.