1463 McDermot Avenue W – Property Summary
Key Characteristics & Buyer Profile
This is a compact, older home in Winnipeg’s Weston neighbourhood, built in 1911. At 644 square feet of living area on a 2,658-square-foot lot, it’s significantly smaller than most homes on its street, in its area, and across the city. The assessed value sits at $113,000, far below the street average of $214,100 and the citywide average of $390,100. While the home ranks in the bottom percentiles for size and value, the land area is roughly average for the neighbourhood (top 49%), so the lot isn’t unusually cramped by local standards.
The appeal here is straightforward: entry-level pricing in a city where the typical home costs nearly four times as much. It’s a property that likely needs real attention or a full renovation, which is both a risk and an opportunity. The buyer this suits is someone comfortable with a fixer-upper, either as a first home with sweat equity or as a small-scale investment. It’s not a turnkey purchase or a family-sized house. For a buyer who values low upfront cost over space, and who can handle the realities of a 113-year-old structure, this could fit a narrow but real need.
Frequently Asked Questions
1. Is the assessed value of $113,000 a reliable estimate of market price?
Assessed value is a starting point, not a current listing price. It’s based on comparable sales and condition data from a set period, so it can lag the market. In a low-price segment like this, the actual sale price could be close to the assessment or vary depending on how much work the property needs.
2. How much renovation does a 1911 home typically require?
It’s impossible to generalize without an inspection, but a home this age will almost certainly need updates to electrical, plumbing, insulation, and possibly the foundation. Older homes often have lead paint, outdated windows, and limited closet space. Budget broadly, and expect surprises.
3. Why is the land area “average” for the neighbourhood when most other metrics are low?
The Weston neighbourhood includes a mix of lot sizes, some larger and some quite small. At 2,658 square feet, this lot falls right in the middle for the area, even though it’s small compared to citywide averages. The house itself is what’s undersized relative to its peers.
4. Does the low ranking on living area mean this is a one-bedroom home?
The data doesn’t specify the layout, but 644 square feet typically accommodates one to two small bedrooms. It could be a bungalow or a small storey-and-a-half. A buyer should confirm the bedroom count directly and consider whether the layout works for their needs.
5. What are the immediate risks of buying a property ranked in the bottom 1–5% citywide?
The lowest rankings are for assessed value and living area, which mostly reflect size and age, not necessarily structural problems. The biggest practical risk is resale: a very small home in a lower-value area may appreciate slowly, and financing or insurance could be trickier if the home is in poor condition. It’s a property best bought for use, not speculation.