861 McDermot Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1927-built home with 768 sq ft of living space on a 4,152 sq ft lot. The property is small by most standards—its living area ranks in the bottom 20% on its own street, bottom 13% in West Alexander, and bottom 7% citywide in Winnipeg. The lot is more generous relative to the neighbourhood: it sits in the top third on the street and top quarter in the community, though it’s still well below the city average of 6,570 sq ft.

The assessed value—$179,000—is modest. It’s near the median for the street and community, but far below Winnipeg’s average of $390,000. This signals a property that isn’t priced for its size or condition alone, but likely for its location and land value.

The appeal here isn’t square footage or a modern build. It’s a smaller, older home with a decent-sized lot in West Alexander—an area where the average home was built in 1921 and the average assessed value sits around $187,000. Buyers who value location over space, or who are looking for a project with land, may find this interesting. It would suit someone comfortable with a modest footprint, possibly a first-time buyer looking to enter the market at a lower price point, or an investor focused on land value in an established central neighbourhood. The property is not for someone seeking move-in-ready space or comparability to newer suburban stock.

Frequently Asked Questions

1. Is this a good fit for a first-time buyer?
Potentially, yes—if the buyer is comfortable with a smaller home and an older build. The assessed value is low relative to the city, which could keep the purchase price manageable. That said, a 1927 property may come with maintenance or upgrade needs, so a thorough inspection and realistic budget for repairs are worth factoring in.

2. How does the lot size compare to others in the area?
The lot is above average for both the street and the neighbourhood. On McDermot Avenue, it ranks in the top third; in West Alexander, it’s in the top quarter. That’s a notable advantage, especially since the home itself is small. The land may hold more long-term value than the structure.

3. Why is the assessed value so much lower than the city average?
The assessed value reflects the property’s size, age, and condition relative to similar homes. Winnipeg’s overall average is pulled up by larger, newer homes in other parts of the city. This property’s value is more in line with older, smaller homes in central neighbourhoods like West Alexander.

4. What’s the significance of the “ranking” data provided?
The rankings show how this property compares to others on the same street, in the same community, and across Winnipeg. For example, the living area is in the bottom 7% citywide, while the lot is in the top 28%. These comparisons give a realistic sense of where the property stands—not just in isolation, but relative to real market data.

5. Should I be concerned that the building is nearly 100 years old?
Not necessarily, but it depends on what’s been updated. Age alone isn’t a dealbreaker, especially in West Alexander, where many homes date to the 1920s. What matters is the condition of the foundation, roof, electrical, plumbing, and insulation. A property this old may have character and solid bones, but it’s wise to verify maintenance history before committing.