850 Mcdermot Avenue

850 Mcdermot Avenue – Property Summary

Key Characteristics & Buyer Suitability

This is a 1,956 sqft home built in 1904 on a 3,301 sqft lot in Winnipeg’s West Alexander neighbourhood. The living area is significantly larger than average for its street (top 6%), neighbourhood (top 10%), and citywide (top 12%), making space its standout feature. The assessed value of $243k is above average on the street and in the neighbourhood, but well below the citywide average for comparable homes (top 84%), which suggests it may be undervalued relative to the broader market or that the property type doesn’t align with typical citywide pricing. The lot is around average for the street and neighbourhood but below average citywide, and the home is older than most (top 83% on the street, top 99% citywide).

The appeal here is straightforward: you get a large living area in an older home without paying a premium for a big lot or a modern build. It suits buyers who prioritise interior square footage over land size or a recently updated structure. It might also appeal to someone comfortable with an older property who sees potential in a neighbourhood where assessed values are rising relative to the surrounding area. Investors or first-time buyers looking for more space per dollar—especially if they can handle or appreciate the character and maintenance of a pre-war home—would find this property worth a close look.

Five Possible FAQs

1. Why is the assessed value above average locally but below average citywide?
That’s partly because the citywide average for comparable homes ($390k) includes many newer, larger-lot properties in higher-priced areas. On Mcdermot Avenue and in West Alexander, the typical home is older and less expensive, so $243k is ahead of those neighbours but far behind the city’s more expensive districts. It’s not a red flag—it just means this area is more affordable than the Winnipeg average.

2. The home was built in 1904. What should I watch out for?
Older homes often have unique plumbing, electrical, and insulation that may need updating. The age ranking (top 99% citywide) confirms this is one of the oldest properties in the city, so expect potential issues like lead pipes, knob-and-tube wiring, or drafty windows. A thorough inspection by someone experienced with heritage homes is wise. The upside is solid construction and likely good bones.

3. The lot is 3,301 sqft—is that enough for a family?
It’s close to the street and neighbourhood average (3,789 sqft and 3,591 sqft respectively), but well below the citywide average of 6,570 sqft. That means you’re getting a typical urban lot for this area, not a sprawling yard. Fine for a garden, small shed, or kids’ play area, but not for large-scale landscaping or a big addition.

4. How does this property compare to others on Mcdermot Avenue?
It ranks in the top 6% for living area but only around average for lot size. That’s an unusual combination—most homes on the street have smaller interiors relative to their lots. This property prioritises indoor space over outdoor, which is a distinct trade-off. It also ranks in the top 26% for assessed value, meaning it’s one of the more valuable homes on the street, likely due to that extra square footage.

5. Would this be a good investment?
Worth considering if you’re betting on the West Alexander neighbourhood’s trajectory. The assessed value is above the local average, but not dramatically so, and the citywide rank suggests room for appreciation if the area improves. The older age and smaller lot limit upside compared to newer builds in growing suburbs, but the large living area could attract renters or buyers who want space without the suburban price tag. It’s not a flashy flip—more of a steady, long-term hold if you’re patient.

To see this property on a map next to nearby houses—and compare year built, living area, assessed value, and lot size in detail—open the neighbourhood analysis page.

[Open neighbourhood map analysis →]