Property Overview
This one-storey home on Magnus Avenue is a classic Winnipeg character property built in 1910. Its key appeal lies in its substantial 2,979 sqft lot, which is above average for the immediate street and neighbourhood, presenting a significant opportunity for expansion, gardening, or outdoor space. The 736 sqft living area is compact, and the basement exists but is not renovated. With no garage and an assessed value significantly below city averages, this property represents an entry point into the market or a land-value opportunity. It last sold in 2021 for $160,000.
This home would best suit a practical, value-conscious buyer. This could be a first-time homeowner comfortable with a smaller footprint and willing to make gradual improvements, or an investor looking for a land-hold or rental property with future redevelopment potential. Its appeal is not in move-in-ready finishes, but in its foundational asset—the lot—and the chance to shape a property over time.
Frequently Asked Questions
What does "below average" assessed value really indicate?
The low municipal assessed value reflects the home's age, size, and condition relative to the broader market. It suggests a lower property tax burden, but also that the property is valued primarily for its land rather than its existing structures.
Is the unrenovated basement usable?
The listing notes a basement that is "not renovated." Buyers should anticipate a space in original or utility condition, suitable for storage and mechanical systems, but not finished living space without significant investment.
How significant is the lot size?
The lot is a key feature. At nearly 3,000 sqft, it is larger than many in Burrows Central. This provides valuable outdoor space and is a compelling factor for anyone considering a future addition, garage, or garden.
The home sold for $160k in 2021 but only $7.7k in 2017. What does that mean?
The 2017 sale price is exceptionally low and may have been a non-arms-length transaction (e.g., between family members) or a sale of the land value only. The 2021 price of $160,000 is a more relevant indicator of its recent market value.
What should I consider about a 1910-built home?
Expect character but also the need for diligent maintenance. While systems like wiring and plumbing may have been updated over the years, a home of this age requires a thorough inspection to understand the condition of the foundation, structure, and insulation.