Property Summary: 845 McDermot Avenue
Key Characteristics & Buyer Profile
This is a 1904-built home with 1,256 sqft of living space on a 4,148 sqft lot. Its assessed value is notably low at $117,000.
Where the appeal lies: The land-to-building ratio is strong—the lot sits in the top quarter of the West Alexander neighbourhood, well above the local average. For its age and street, the living space is also slightly above average. The property’s main draw is likely its low tax base, not its condition or finish. Buyers getting a deal on the structure may find room to add value over time, especially given the solid lot size.
Who it suits: This would work best for a buyer comfortable with an older home who prioritizes a low purchase price or low property taxes over modern finishes. It may also appeal to someone looking to renovate or rebuild on a larger-than-average urban lot in the West Alexander area.
Frequently Asked Questions
1. How does the assessed value of $117,000 compare to what I’d actually pay?
The assessment is well below both the neighbourhood and city averages—ranking in the bottom 1% citywide. This often means lower property taxes, but the sale price may differ from the assessed value depending on market conditions and the home’s current condition.
2. Is the 1904 build a concern?
It depends on what’s been updated. The home is older than most on the street and in the neighbourhood, but many homes from this era in West Alexander have solid bones. You’d want to check for knob-and-tube wiring, lead pipes, asbestos, and foundation condition—these are common issues in pre-1920 homes.
3. How usable is the lot size?
At 4,148 sqft, the lot is larger than average for the neighbourhood. That said, it's still well below the citywide average for single-family homes. It offers more outdoor space than many nearby properties, but it’s not oversized by Winnipeg standards.
4. Why isn’t this home ranked higher in its street for size or value?
The home sits in the middle of the pack for living space and lot size on McDermot Avenue, and well below average for assessed value. That suggests the home may be smaller or less updated than others on the same street, or that the street itself includes a mix of newer or more valuable properties.
5. Should I compare this home to others on the street or in the neighbourhood?
Both. The street-level data shows how it stacks up against direct neighbours, while the neighbourhood comparison gives a broader sense of what’s typical in West Alexander. For lot size, the neighbourhood ranking is more favourable; for value and age, the street ranking tells a more realistic story.