Property Overview

This one-storey home at 231 Mcadam Avenue in Winnipeg's Jefferson neighbourhood presents a specific and practical opportunity. Its key appeal lies in being an entry-point property with a recently renovated basement, offering functional living space at a scale that demands efficient use. Built in 1927, the 712 sqft house sits on a 3,848 sqft lot with a detached garage.

The home consistently ranks "below average" in size, value, and land area compared to local, neighbourhood, and city-wide benchmarks. This isn't necessarily a drawback, but rather defines its niche: it’s a modest, low-assessment base for someone looking to enter the market with lower property taxes. Its strongest suit is its renovated basement, which effectively adds usable square footage to the compact main floor.

This property would suit a first-time buyer, an investor looking for a manageable rental, or someone seeking a minimalist footprint without a major renovation project. It’s for a buyer who values practicality and affordability over size, and who sees potential in the existing renovation and the lot itself.

Frequently Asked Questions

What does "below average" in all the rankings actually mean for a buyer?
It confirms this is a modest, no-frills property. The lower assessed value typically translates to lower municipal property taxes, which can be a meaningful annual saving. It means you're purchasing a functional home, not a premium or expansive one.

The sold price history shows a sale around $18.5k–$21.5k in 2019. Is the price now similar?
List prices are determined by the current market and seller. The 2019 sale price is a historical data point that reflects the home's very low assessed value. A current listing price would be influenced by today's market conditions, the renovated basement, and comparable recent sales, which may differ significantly.

How usable is a 3,848 sqft lot?
At roughly 50 by 77 feet, it's a manageable size for a smaller home. It provides adequate private outdoor space for gardening, entertaining, or simple yard maintenance without being overwhelming. The detached garage also takes up a portion of this space.

Who would this home not be suitable for?
It would likely not suit a growing family needing multiple bedrooms and ample living space, or a buyer who prioritizes modern open-concept layouts. The compact main floor living area requires thoughtful furniture placement and organization.

What are the less obvious things to consider with a home from 1927?
While the basement is renovated, the core structure, plumbing, electrical, and insulation of the main floor are nearly 100 years old. A thorough inspection is crucial. Also, the architectural charm common to the era may be present, but so could the need for updates to windows, roofing, or foundational maintenance.