Property Overview
615 Mcadam Avenue is a compact, one-storey home built in 1912, situated on a standard city lot in Winnipeg's Jefferson neighbourhood. Its primary appeal lies in its position as one of the most accessible entry points into home ownership in the city. With a living area of 609 sqft, an unrenovated basement, and no garage, it is a straightforward property that prioritizes function and affordability over modern amenities or size.
This home would suit a specific type of buyer: a first-time purchaser or an investor seeking a low-cost asset with minimal financial barrier to entry. It's for someone comfortable with a project, whether that's living modestly while building equity or managing a basic rental. The extremely low assessed value and recent sold price indicate very low property taxes, which is a significant, often overlooked advantage for budget-conscious owners. A less obvious perspective is that a home of this vintage and scale offers a manageable footprint for someone looking to minimize their living space and environmental impact, or for an investor focusing on cash flow over property appreciation.
Frequently Asked Questions
1. What does the "Top 98-99%" ranking mean for living area and value?
This means the home is smaller and has a lower assessed value than the vast majority of comparable properties in its area and city-wide. It confirms this is a notably compact and affordable property.
2. Is the basement finished or usable?
The listing specifies the basement exists but is "not renovated." Buyers should anticipate an unfinished space that may require work to be fully functional.
3. What are the typical property taxes for a home with this assessed value?
With an assessed value of $17,200, the annual property taxes would be exceptionally low, often a key financial benefit for such an affordable home.
4. How does the lack of a garage affect parking?
The property has no garage. Parking would be limited to on-street, which is common for homes of this era in Winnipeg neighbourhoods. Prospective buyers should verify local parking regulations.
5. The home sold recently in early 2025. What might that indicate?
The recent sale suggests a potentially quick turnaround, which is common with priced-to-sell, entry-level properties. It could indicate an investor purchase or a first-time buyer situation. For the exact sold price, you can request the information via email from the listing source.