Property Overview: 595 Mcadam Avenue
Key Characteristics & Buyer Profile
This one-and-a-half storey home, built in 1944, presents a practical opportunity in Winnipeg's Jefferson neighbourhood. Its key appeal lies in the balance of a generous, above-average land lot (nearly 6,000 sq ft) with a modestly sized and priced home. While the 1,059 sq ft living area and assessed value are below average for the immediate area, the property offers a substantial yard for its setting—a notable advantage for those seeking outdoor space. The home includes a basement and a detached garage, but has not undergone recent renovations.
This property would best suit a value-conscious buyer, such as a first-time homeowner or an investor, who prioritizes land size over a move-in-ready finish. It’s a canvas for customization, appealing to someone comfortable with gradual updates or who sees potential in the existing structure. The below-average assessment and past sale prices suggest an accessible entry point into the market, with the trade-off being that immediate modernization may be required. It’s a home for a pragmatic buyer who views the lot as a long-term asset and the house as a project with clear potential.
Frequently Asked Questions
1. What is the true size and potential of the lot?
The land area of 5,994 sq ft is a standout feature, ranking in the top 24% on its own street and top 10% in the wider Jefferson area. This offers significant outdoor space, garden potential, or future expansion possibilities rare for homes at this price point.
2. How does the assessed value compare to likely market price?
The assessed value is consistently below average for the area, which can indicate a lower property tax burden. However, it also reflects the home's unrenovated condition and age. Buyers should note that market value is influenced by many other factors, including current condition and demand.
3. What can past sale prices tell me?
The home sold in 2016 and again in 2017. The increase in sale price range over that period was notable. This history suggests the property has been seen as a value-adding opportunity in the past, though it has not changed hands in several years.
4. What does "below average" living area mean for daily life?
At 1,059 sq ft, the living space is compact compared to some neighbours. This typically means efficient, cozier rooms and lower utility costs, but requires thoughtful space planning. It suits smaller households or those who prioritize the large yard over interior square footage.
5. Who are the typical neighbours?
The nearby homes on Mcadam Avenue vary widely in age, size, and assessed value, from homes built in 1917 to 1987. This indicates a neighbourhood without uniform housing, which can offer architectural character and varied price points, but less predictability in streetscape.