Property Overview: 636 Magnan Street
Key Characteristics & Appeal
This is a compact, one-storey home built in 1952 on a generously sized lot in Winnipeg's Buchanan neighbourhood. Its primary appeal lies in the combination of a renovated basement and a detached garage, offering valuable functional space and storage. The land area of 4,577 sqft is notably larger than many lots in Buchanan, presenting a standout opportunity for gardening, expansion, or simply enjoying more private outdoor space than is typical for the area.
The home itself is modest in size at 694 sqft of living area, making it one of the smaller homes on its street and in the wider neighbourhood. This positions it as an efficient, low-maintenance property. Its assessed value is proportionally lower than area averages, suggesting a potentially accessible entry point into the market. The appeal is grounded in practicality: it suits first-time buyers seeking a manageable footprint with upgrade potential, investors looking for a character home with a strong land-to-structure ratio, or downsizers who value a renovated basement for hobbies or guests and a large yard without the upkeep of a large house.
Frequently Asked Questions
1. How does the lot size compare to others?
The lot is 4,577 sqft, which is larger than the average for the immediate Buchanan neighbourhood. It offers more outdoor space than over 80% of comparable local properties.
2. Is the home particularly small?
Yes. With 694 sqft of living area, it is smaller than most homes on Magnan Street and in Buchanan. This indicates a cozy, efficient layout ideal for those seeking minimal interior maintenance.
3. What does the "renovated basement" include?
The provided details confirm the basement is renovated but do not specify the scope. A viewing is essential to assess the finish quality, layout, and whether it includes legal secondary suite potential or is designed as additional living space.
4. How does the year built affect the property?
Built in 1952, the home is older than most in Buchanan. Buyers should budget for age-related maintenance and consider a thorough inspection, but may also appreciate the classic character and established neighbourhood feel.
5. Why is the assessed value notably lower than the city-wide average?
The assessed value reflects the home's smaller size and older age relative to the entire Winnipeg market. It is more aligned with values on its own street, indicating the price is likely driven by the land value and location rather than the structure's square footage.