Property Summary: 651 Mcadam Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home on a spacious 5,389 sqft lot in Jefferson presents a solid, grounded opportunity. Its key characteristics include a renovated basement, a detached garage, and a living area of 1,292 sqft that is notably above average for the Jefferson neighbourhood itself. Built in 1952, it is a newer home compared to many on its street, offering a potential advantage in terms of infrastructure and updates.
The appeal lies in its balanced positioning. It’s not an outlier in any category but consistently performs "above average" within its immediate neighbourhood context, particularly for living space, lot size, and year built. This suggests a property that stands well among its local peers without the premium of a top-tier city-wide location. The renovated basement adds functional, modernized space.
This home would suit practical buyers looking for a established neighbourhood character with room to breathe. It’s ideal for someone who values space over flash—a first-time buyer needing room to grow, a small family, or an investor seeking a stable rental property in a community where the house itself offers more than the area's average. It’s for those who find appeal in a home that is competitive and comfortable within its own community, rather than one that chases city-wide trends.
Section 2: Frequently Asked Questions
1. How does this home truly compare to others in the area?
The data shows it holds its own very well locally. For Jefferson, its living area and lot size rank in the top 15% and 26% respectively, meaning it offers more space than most direct neighbourhood comparables. On its own street, it's also a newer build, which can be a subtle advantage.
2. What does the assessed value tell me?
The City's assessed value of $320k is a benchmark for property taxes, not market price. However, its ranking shows this assessment is above average for Jefferson, indicating the city views it as a higher-value property within the neighbourhood, likely due to its size, lot, and renovations.
3. The last recorded sale was in 2017 for a much lower price. Is that relevant?
The sold price from 2017 (in the $275k-$305k range) is primarily useful for understanding the property's historical trajectory. Given the time elapsed and the renovated basement, current market value will be driven by recent sales of similar homes and today's market conditions, not this older data point.
4. What are the less obvious pros and cons of a home like this?
A thoughtful pro is that a home which is "above average" for its neighbourhood can be a resilient choice, often maintaining relative value well. A potential con is that its city-wide rankings are average, so its appeal is very specific to those who want to be in this particular community rather than seeking a top-performing asset across all of Winnipeg.
5. Who should request the exact sold price history?
If you are seriously considering making an offer, obtaining the exact sold prices (not ranges) for this home and its nearby comparables is a crucial step. This precise data allows you or your agent to build a truly informed offer strategy based on concrete history, not estimates.