Property Overview & Key Characteristics
This one-and-a-half storey home on Magnus Avenue, built in 1928, presents a practical opportunity in Winnipeg's Burrows Central neighbourhood. Its key appeal lies in its position as a modest, no-frills property with a functional layout. The home features 920 sqft of living space, a detached garage, and a full basement that is noted as being unrenovated. The lot size of 2,721 sqft is smaller than many in the city but is fairly typical for the immediate area.
The property suits first-time buyers, investors, or downsizers seeking an affordable entry point into the market with lower property taxes, as indicated by its assessed value. Its straightforward nature means it could serve as a manageable starter home or a long-term hold for a value-conscious buyer comfortable with a property that may require updates. A thoughtful perspective is that its average rankings in nearly every category for the street and neighbourhood suggest it is a very typical home for Burrows Central, offering a realistic snapshot of the area's housing stock without extreme highs or lows.
Frequently Asked Questions
1. What does "below average" for land area city-wide mean?
While the lot is smaller than the Winnipeg average, it is actually close to the norm for Burrows Central and Magnus Avenue itself. This highlights the difference between city-wide comparisons and local context, suggesting the property is typical for its established neighbourhood.
2. Is the unrenovated basement a major concern?
It indicates the basement is in original or functional condition, not modernized. This presents both a consideration for immediate usability and a clear opportunity for future value addition, according to a buyer's vision and budget.
3. How does the assessed value relate to the selling price?
The assessed value ($19,400) is for municipal tax purposes and is typically lower than market value. It is useful for estimating annual property taxes but should not be confused with the home's listing or sale price.
4. What can nearby similar properties tell me?
The listed comparable homes on Magnus and Alfred Avenues show assessed values ranging from $15,800 to $22,300, with varying sizes and ages. This confirms the subject property is firmly within the expected value range for similar homes in the immediate vicinity.
5. Who might this property not suit?
It may not suit buyers looking for a turn-key, modernized home or those needing extensive living space. The unrenovated basement and average living area relative to the neighbourhood point to a property best for those with realistic expectations or renovation plans.