Property Overview
This 1910-built, one-storey home on Magnus Avenue presents a practical and straightforward opportunity. Its key appeal lies in a combination of a renovated basement, a detached garage, and a lot size that is generous for the immediate area. At 716 sqft, the living space is compact, positioning this property as an affordable entry point into the Winnipeg market. The home last sold in 2020 for $180k, with a current assessed value significantly lower, which may attract attention from value-conscious buyers.
This home would suit a first-time buyer, an investor looking for a rental property, or someone seeking a modest, low-maintenance footprint. Its renovated basement adds functional space, while the detached garage offers utility or storage. A thoughtful perspective is that while the house itself is smaller and older than city averages, its lot is proportionally larger than many in the neighbourhood, offering potential for outdoor space or future expansion relative to nearby properties.
Frequently Asked Questions
1. Is the $17.4k assessed value the same as the market value?
No, the assessed value is for municipal tax purposes and is typically much lower than the market sale price, as evidenced by the home's last sale at $180k in 2020.
2. How does the lot size compare to others?
The lot is just under 3,000 sqft. It's slightly below the average for the Burrows Central neighbourhood but ranks in the top 64% on its own street, meaning it's actually on the larger side for Magnus Avenue.
3. What does the "renovated basement" include?
The details provided only confirm the basement is renovated, but not the scope or quality. This is a key point to clarify with the listing agent to understand the added living or utility space.
4. The home was built in 1910. Should I be concerned about major issues?
While the age suggests potential for outdated systems or foundations, the renovated basement is a positive sign of some updates. A thorough home inspection would be essential to evaluate the condition of the roof, wiring, plumbing, and structure.
5. How does this price fit for the area?
Based on the 2020 sale price and comparable nearby listings with similar assessed values, this home sits in an affordable segment of the market. It offers a cost-effective way to enter a neighbourhood where many lots are of a similar size, even if the houses themselves vary.