Property Overview
This bi-level home at 1831 Mcdermot Avenue W in Winnipeg's Brooklands neighbourhood presents a specific and practical value proposition. Built in 2007, it is a notably newer construction compared to most homes on its street and in the broader area. The home features a renovated basement and a modest 789 sqft of living space. Its lot size of 2,501 sqft is smaller than area averages. The property last sold in 2019 for $260k and carries a current assessed value of $27.40k.
Key Characteristics & Appeal
The primary appeal of this property lies in its modern build year within an established neighbourhood, offering move-in readiness with less concern for major aging infrastructure repairs common in older homes. Its renovated basement adds functional living space. The smaller scale translates to lower maintenance, both for the interior and the compact yard.
This home would suit first-time buyers seeking an affordable entry into the market, practical downsizers looking to reduce upkeep without sacrificing modern comforts, or investors seeking a relatively newer rental property with potential for long-term capital appreciation as the neighbourhood evolves. A thoughtful perspective is that its "below average" size and lot, when paired with its "above average" newness, create a unique niche: it offers modern efficiency in a market segment often dominated by larger, older homes requiring more ongoing investment.
Frequently Asked Questions
1. How does the assessed value relate to the likely market price?
The assessed value ($27.40k) is for municipal tax purposes and is typically significantly lower than market value. The more relevant figure is the 2019 sale price of $260k, which provides a recent market benchmark.
2. Is the smaller living area a concern?
The 789 sqft living area is compact. However, the presence of a renovated basement effectively adds usable space, which can offset the main-floor square footage for daily living.
3. What does the "newer build" mean for me practically?
A 2007 build suggests major components like wiring, plumbing, and the roof are relatively modern and likely compliant with recent building codes, potentially reducing immediate repair costs and insurance considerations compared to a home built decades earlier.
4. The lot is smaller than average. What are the implications?
The 2,501 sqft lot requires less yard maintenance, which can be a benefit for those seeking a low-maintenance lifestyle. It may also mean less privacy and smaller outdoor recreation space compared to neighbours on larger lots.
5. How does this property fit within the Brooklands neighbourhood?
The home is an outlier in terms of its newness in a neighbourhood with many older homes. This can be an advantage for modern amenities but may mean the architectural style and scale differ from surrounding properties. Its above-average assessed value for the immediate area indicates it is viewed as a higher-value asset for tax purposes.