Key Characteristics & Buyer Profile
This property at 848 Mcdermot Avenue offers 1,420 square feet of living space on a 3,301 square foot lot. Built in 1902, it sits in the West Alexander neighbourhood of Winnipeg. The living space is above average for its street and roughly average for the neighbourhood and city, placing it in the top 35% citywide. The assessed value sits at $169,000, which is notably low compared to the city average of $390,000. The lot size is close to average for the neighbourhood but smaller than typical Winnipeg lots.
The main appeal here is the combination of generous interior space with a low property tax assessment. For a buyer looking at older homes, this property provides significantly more square footage than many comparably priced options. The trade-off is the age—1902 means older construction, which often comes with maintenance considerations, but also the character and central location typical of a historic neighbourhood. This would suit buyers who want space and location over a modern finish, and who are comfortable with a fixer-upper or a home that has been well-maintained but not recently updated. It’s less suited to someone seeking a turnkey, low-maintenance property or a large yard.
Five Possible FAQs
1. How does the low assessed value affect my property taxes?
A lower assessed value means lower annual property taxes. At $169,000, this home’s tax bill will be significantly less than the city median, which can free up budget for renovations or monthly expenses. Just keep in mind that reassessments happen periodically, and improvements you make could raise the value—and the taxes—over time.
2. Is a 1902 home likely to have knob-and-tube wiring or other outdated systems?
It’s common for homes of this era to have original or partially updated electrical, plumbing, and insulation. You should budget for a specialized home inspection that looks at these systems carefully. Some homes from this period have been fully modernized, but without that info, it’s safer to assume there will be some older elements that may need attention.
3. The lot is smaller than the city average—what does that actually mean for use?
A 3,301 sqft lot is typical for this neighbourhood. It means a manageable yard, less mowing, and probably lower maintenance. The trade-off is limited space for additions, large gardens, or extra parking. If you value outdoor space for entertaining or expansion, this might feel tight; for a low-upkeep city property, it’s a plus.
4. How does the living space compare to other homes in West Alexander?
This home’s 1,420 sqft is slightly above the neighbourhood average of 1,299 sqft and well above the street average of 1,144 sqft. So relative to nearby properties, you’re getting above-average interior square footage without paying a premium for it. That’s unusual in older neighbourhoods where smaller homes are more common.
5. What are the practical downsides of a home ranked in the oldest 1% citywide?
Being built in 1902 puts this home among the oldest 1% of properties in Winnipeg. That typically means non-standard framing, possible foundation settlement, and older windows or roofing. It also means the home may have heritage restrictions on exterior changes. On the plus side, older homes in this area often have solid wood, high ceilings, and a layout that’s hard to replicate in new construction. It’s a trade-off between character and ongoing upkeep.