513 McDermot Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a late-19th-century home built in 1897, located in the West Alexander area of Winnipeg. It stands out primarily for its size: the living area is 1,697 square feet, well above the averages on its street, in its neighbourhood, and across the city. The lot is also generous at 4,632 square feet, again larger than most neighbouring properties, though closer to the citywide average when compared to the full Winnipeg market.
Where the property is less competitive is in its assessed value and age. The tax assessment of $184,000 is notably low for the city as a whole (bottom 6%), though it’s close to the neighbourhood average. The home is older than almost everything around it—both on the street and city-wide—which reflects both its character and potential maintenance needs.
The appeal here is space and land at a relatively low assessed price point. For a buyer, that likely means getting more square footage and a larger yard than you’d find in most comparable listings, particularly within this part of the city. The property would suit someone who values interior volume and outdoor space over a newer build, and who is comfortable with an older structure—or sees opportunity in it. It’s not a turnkey modern home, but it offers room to spread out that many newer properties in the same price range don’t.
Five Frequently Asked Questions
1. How does the living space compare to other homes nearby?
It’s significantly larger than most. On McDermot Avenue, it ranks in the top 12% for living area. The home is about 550 square feet above the street average and nearly 400 square feet above the neighbourhood average.
2. Is the property expensive to maintain given its age?
That depends on prior upkeep. The home was built over 125 years ago, and it’s older than roughly 99% of properties city-wide. Older homes can require more attention to foundations, wiring, plumbing, and insulation. The low assessed value may reflect deferred updates, so a thorough inspection is worth considering.
3. How does the land size compare across Winnipeg?
The lot is above average for the street and neighbourhood, but slightly below the city average for all properties. The citywide average is skewed by larger suburban lots. Within the West Alexander area, this lot is in the top 20%.
4. Why is the assessed value so low relative to the city?
The assessment likely reflects the home’s age and condition rather than its size. Many newer or renovated homes across Winnipeg carry much higher assessed values. This property’s assessment is close to the neighbourhood average, suggesting it’s in line with local market expectations for this pocket of the city.
5. Who would be the right fit for this home?
Someone who wants more space—both indoors and outdoors—without paying a premium for a newer build. It’s less suited to buyers looking for something move-in ready with modern finishes or those concerned about high ongoing maintenance. It may work well for someone planning gradual renovations or who simply values character and square footage over trendiness.