565 Mcadam Avenue

Property Overview: 565 Mcadam Avenue

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home in Winnipeg's Jefferson neighbourhood presents a practical, entry-level opportunity. Its key characteristic is its modest scale, with 735 sqft of living space—considerably smaller than area averages—sitting on a standard city lot of just under 4,500 sqft. The home, built in 1950, has a renovated basement and a detached garage. The assessed value is notably low, a pattern consistent with its recent 2023 sale price in the low $20k range.

The primary appeal lies in its affordability and function as a straightforward asset. It suits buyers seeking a minimal financial entry point into the housing market, such as an investor looking for a rental property with low capital outlay, or a hands-on buyer intending a ground-up renovation or rebuild. Its smaller size and lower taxes could also appeal to someone looking to drastically downsize their cost of living. A less obvious perspective is its potential as a "placeholder" property in a transitioning area, allowing an owner to secure a land position while keeping carrying costs exceptionally low. It is not suited for those needing move-in-ready conditions or ample space.

Section 2: Frequently Asked Questions

1. Why is the assessed value and recent sale price so much lower than the city-wide average?
The price reflects the home's smaller size, age, and likely the need for updates. It is characteristic of a specific segment of the market focused on value-driven purchases rather than finished homes.

2. What does the "renovated basement" entail?
The listing notes the basement is renovated, but specifics on the finish quality, permits, or moisture control are not provided. This would be a key area for inspection and verification.

3. Is the lot size a development opportunity?
At 4,496 sqft, the lot is fairly typical for the street. While subdividing may not be feasible, the lot provides standard outdoor space and the potential for additions, subject to zoning bylaws.

4. How do the utility and maintenance costs compare for a home of this size?
Heating and general upkeep for 735 sqft should be proportionally lower than for a larger home, a practical financial benefit. However, older systems (like plumbing or wiring) in a 1950s build could still present significant repair costs.

5. What is the neighbourhood context?
Located on Mcadam Avenue in Jefferson, the home is surrounded by similar, modest properties. The recent sale prices of immediate neighbours suggest a stable, affordable area. Prospective buyers should visit to assess the street's condition and amenities firsthand.