Property Overview: 520 Mcadam Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home, built in 1907, presents a straightforward opportunity in Winnipeg's Jefferson neighbourhood. Its key appeal lies in its position as an accessible entry point into the housing market. With a living area of 1,028 sqft and a notably low assessed value, it stands out for buyers prioritizing minimal property tax burden and initial investment above all else.

The home suits specific buyer profiles perfectly. It is a candidate for investors or handy homeowners looking for a foundational property where the value is primarily in the land and the structure offers a blank canvas for renovation over time. Its compact lot size and unrenovated basement underscore its role as a practical, no-frills asset rather than a move-in-ready family home. A thoughtful perspective for the right buyer is viewing its age and below-average metrics not just as drawbacks, but as factors contributing to its affordability and reduced property tax liability, freeing up capital for custom updates or other financial priorities.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than typical city averages?
Assessed value is based on market value for taxation purposes. This home's lower assessment reflects its age, condition, and smaller lot size compared to city and area norms, resulting in a correspondingly lower annual property tax bill.

2. What does "one-and-a-half storey" mean for this home?
Typically, this style features a full main floor with a second floor under sloping rooflines, creating smaller or cozier upper rooms. Given the home's 1907 construction, the upstairs likely has unique character but may feature lower ceilings and less conventional room shapes than a modern two-storey.

3. The home sold recently in early 2025. What does that indicate?
The recent sale suggests a quick turnaround, often seen with investor purchases or estate sales. It highlights the property's role as a value-priced asset. For a new buyer, it's advisable to understand the prior owner's short-term reason for selling.

4. How does the unrenovated basement impact livability and value?
An unrenovated basement means functional space for utilities and storage, but not finished living area. This limits the home's immediate liveable square footage but also means there are no hidden issues behind finished walls, offering a clear starting point for any future development.

5. The comparable references show a wide range of values and sizes. What does this mean for the neighbourhood?
The provided comparisons, from a 610 sqft home to a 1,146 sqft home, indicate that Jefferson is a neighbourhood with diverse housing stock. This suggests a mix of property types and values, where a home's specific characteristics, lot, and condition heavily influence its price.