1475 Mcdermot Avenue W – Property Summary
Key Characteristics & Who It Suits
This is a small, older home (built 1907) in Winnipeg’s Weston neighbourhood with 708 square feet of living space on a 3,987-square-foot lot. Its main appeal isn’t size or condition relative to the area—it’s the land. The lot is above average for both the street (ranked 41st out of 221) and the neighbourhood (top 24%), meaning the property offers more outdoor space than most comparable homes nearby. The assessed value of $133,000 is significantly below the street average of $214,100 and well below the city average of $390,100.
The home itself is compact; it ranks in the bottom 11% for living area on its street and bottom 4% city-wide. Year built places it among the older properties in the area. This isn’t a property for someone looking for move-in-ready space or modern finishes. It’s best suited for a buyer who values land over structure—someone interested in a renovation project, a lot for a future build, or a lower-cost entry point into a neighbourhood where land values are notably lower than the city norm. The low assessed value also suggests potential for a buyer who doesn’t prioritize a high resale value in the near term.
Five Possible FAQs
1. Why is the assessed value so low compared to the city average?
The home is small, old, and located in a neighbourhood where property values are below Winnipeg’s median. The citywide average assessment of $390k reflects much newer and larger homes. On its own street, this property is near the bottom in value, which corresponds to its smaller living area and older construction.
2. Does the larger-than-average lot make up for the small house?
It depends on your priorities. If you’re looking for a project or land value, yes—the lot is above average for the street and neighbourhood. But the house itself is well below average in size, so you’d be paying primarily for the land, not the living space.
3. Is this home a good candidate for a full renovation?
Potentially, but it depends on the condition, which isn’t disclosed here. The year built (1907) means you may face older systems and materials. The low assessed value could mean the bones are a concern, or it could simply reflect age and size. A thorough inspection would be essential before committing.
4. How does this property compare to others in Weston?
In the Weston neighbourhood, this home ranks near the bottom for living area and assessed value but in the top quarter for lot size. So it’s not a typical Weston home—it’s smaller than most, but on more land than average. It stands out more for the lot than the house.
5. What type of buyer typically goes for a property like this?
Buyers who are comfortable with a fixer-upper or who plan to replace the house entirely with a new build, especially if they want more yard space than what’s typical for the area. It may also attract investors looking for a low-cost entry in a neighbourhood that’s less expensive than the city average.