You can search by address on Findmypast. See: www.findmypast.co.uk/CensusChooseSearchType.jsp

I looked for College Street and Maughold St. in 1881, and it said no result (this search is free for 1881). I didn't find the street until I chose Isle of Man for the County, and put in "Maughold" for the Residential place and NO street name. This brought up a list of 76 streets, including both College and Maughold Sts. At 26 College St were the (Edward) Starkey family and Elizabeth Cannon and family. You can look at the households around no.26 by putting Edward Starkey b.1855 in Ancestry.

I think you would need to look at the scans for the entries in Maughold St to look for Willow Cottage. At No 1 Maughold St is Sarah BRIDSON, 54 b.1827 so you could start with her and then at the pages following.

Sue