843 Mcdermot Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1910-built home with 1,416 square feet of living space on a 4,147-square-foot lot. The living area is slightly above what’s typical for the street (ranking in the top 24% on Mcdermot Avenue) but sits around average for the West Alexander neighbourhood and the city as a whole. The lot is a clear standout within the neighbourhood—it ranks in the top 25% locally, offering more outdoor space than most nearby homes.
The assessed value is $154,000, which is notably low compared to street, neighbourhood, and city averages. This is partly explained by the home’s age (built 1910), which places it in the older tier both locally and citywide. The low assessment, combined with a decent-sized lot and functional living space, points to a property where the land likely holds more long-term value than the structure itself.
Appeal: This property suits buyers who prioritize land over a modern house. The lot size is generous for the area, making it a candidate for renovation, expansion, or possibly redevelopment (subject to zoning). It also appeals to those comfortable with an older home’s character and maintenance demands, or investors looking for a lower-entry point in a central neighbourhood.
Best fit for: Value-conscious buyers, handyman-owners, or small-scale investors. Not ideal for someone seeking a move-in-ready, modern home or a family needing maximum square footage without plans to renovate.
Frequently Asked Questions
1. How does the living space compare to other homes in West Alexander?
It’s around average for the neighbourhood. At 1,416 sqft, it ranks in the top 36% locally, meaning it’s slightly larger than many homes in the area but not exceptionally big. The street ranking is stronger (top 24%), so it stands out more against immediate neighbours than against the broader neighbourhood.
2. Why is the assessed value so low compared to the city average?
Two main factors: the home is old (1910) and likely has not been updated to match current market values, and the citywide average includes many newer, larger homes across Winnipeg. The $154k assessment places it in the bottom 3% citywide, which reflects age and condition more than location or lot size.
3. Is the lot big enough for an addition or secondary dwelling?
At 4,147 sqft, the lot is above average for the street and neighbourhood. Whether it supports an addition or a secondary unit depends on local zoning, setbacks, and utility connections. It’s worth checking with the city before planning anything, but the lot size itself is not a limiting factor.
4. What should I expect from a 1910-built home?
Older construction often means solid framing but outdated systems—wiring, plumbing, insulation, and possibly foundation work. Expect higher heating costs and potential for knob-and-tube wiring or lead pipes. A thorough home inspection is strongly recommended. The bones can be good, but the mechanicals may need attention.
5. How does this property compare to others I could see on the neighbourhood map?
The neighbourhood map tool (linked on the property page) lets you compare year built, living area, assessed value, and lot size side by side with nearby homes. This property’s standout features are its lot size (top 25% locally) and low assessed value (bottom 3% citywide). Viewing it in context helps clarify whether the trade-off between age and land works for your plans.