882 Mcdermot Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1946-built home in West Alexander, Winnipeg, with 1,144 sq ft of living space on a 3,996 sq ft lot. Its assessed value is $219,000.
What stands out here is the land. The lot is larger than both the street and neighborhood averages, which is unusual for a postwar home in this part of the city. The living area sits right around the street average, but the property holds its value well relative to the immediate area—assessment is above the neighborhood norm, even though it's well below the citywide average. The house is older than most in the surrounding blocks, but not dramatically so for the neighborhood.
The appeal is practical rather than flashy. This is a solid, mid-century home on a generous piece of land in a modestly priced part of town. It's the kind of property where the value is in what you can do with the yard or the potential to update the house itself, not in curb appeal or prestige.
Best suited for:
- Buyers who want more outdoor space than a typical infill lot provides, without leaving the inner city.
- Someone comfortable with a home that needs updating—the age and assessment suggest there's room to add value.
- People who prioritize lot size and location over a move-in-ready interior. The street (Mcdermot) is average in most metrics, but the neighborhood itself shows above-average lot sizes and slightly older homes, which often means more established trees and quieter streets.
A less obvious angle: because the house ranks low citywide for age and value but high locally for land, it may appeal to buyers who plan to hold long-term, as the land component tends to appreciate more steadily than the structure in older Winnipeg neighborhoods.
Five Possible FAQs
1. How does this property compare to others on Mcdermot Avenue?
It's very close to the street average for living area (1,144 sq ft), year built (1946 vs. 1942 average), and assessed value ($219k vs. $214.1k average). The lot is slightly above the street average (3,996 sq ft vs. 3,789 sq ft). In short, it's a fairly representative home for this street.
2. Why is the assessed value above the neighborhood average but below the city average?
West Alexander has a lower median assessed value ($187.3k) than the citywide average for comparable homes ($390.1k). This property is valued above its immediate neighbors, likely due to its larger lot, but it's still a modest home in a part of town where prices haven't risen as sharply as other areas.
3. Is this a good investment property?
Possibly, but not for quick flipping. The land is the main asset here. If you're looking for a rental with decent land appreciation or a long-term hold where you can improve the structure, the numbers work. But the house itself is older and would need capital to bring it up to modern standards.
4. How old is the house, and has it been updated?
Built in 1946. The data doesn't specify renovations, but based on the assessment relative to the neighborhood, it's likely some updates have been done—or the lot is pulling the value up. A home inspection would be essential to confirm the condition of mechanicals, foundation, and roof.
5. What's the neighborhood like for families or investors?
West Alexander is an older, established area with a mix of postwar homes and some newer infills. It's not a high-demand family neighborhood like River Heights or St. Vital, but it offers more lot space per dollar and reasonable access to downtown. For investors, the lower entry price and larger lots can be attractive if you're comfortable with an area that hasn't seen rapid gentrification.