1033 Magnus Avenue

Property Overview: 1033 Magnus Avenue, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home, built in 1921, presents a practical opportunity in Winnipeg's Burrows Central neighbourhood. Its primary appeal lies in its value proposition and efficient use of space. While situated on a smaller lot (2,239 sq ft) compared to most in the city, the living area (1,174 sq ft) is notably above average for both its street and immediate area, suggesting a well-utilized floor plan within a compact footprint.

The home suits buyers with clear priorities: first-time purchasers seeking an affordable entry point, investors looking for a rental property with a manageable scale, or downsizers wanting a cozy, low-maintenance layout. Its assessed value is significantly below the Winnipeg average, indicating a lower property tax burden—a key, less obvious advantage for budget-conscious owners.

The detached garage adds practical storage or workshop space. It's important to note the basement exists but is unrenovated, representing both a project cost and future potential. The 2021 sale price was closely aligned with the assessed value, suggesting a stable, modestly priced market for the property.

Frequently Asked Questions

1. Is the smaller lot size a major drawback?
While the land area is below average, this often translates to less yard maintenance and lower exterior upkeep costs—a potential benefit for those not seeking extensive outdoor space.

2. What does the "above average" living area ranking mean practically?
It means that for this specific street and neighbourhood, the home offers more interior space than most comparable properties. You're getting a relatively spacious house on a smaller parcel of land.

3. Why is the citywide assessed value so much lower than the average?
The assessed value reflects the property's value relative to all properties in Winnipeg for tax purposes. Its low ranking here is primarily due to the home's modest scale and the neighbourhood's market values compared to more expensive areas citywide.

4. What should I consider about the unrenovated basement?
It provides functional space for utilities and storage as-is. Any finishing would be a future investment, allowing you to customize it to your needs, but you should budget for potential updates to moisture control, insulation, and flooring.

5. How does the year built (1921) affect the home?
Homes of this era often feature solid construction and simple, durable materials. Buyers should prioritize a thorough inspection focusing on updates to essential systems like wiring, plumbing, and the roof, which may be due for replacement given the home's age.