Property Overview
This one-and-a-half storey home on Magnus Avenue, built in 1911, presents a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Its key appeal lies in its land value and positioning as a modest, entry-level property. With a living area of 970 sqft, it offers compact, functional space. The lot size of 2,951 sqft is notably larger than many citywide comparisons, providing valuable outdoor space or future potential in a central location. The home features a detached garage and an unrenovated basement, indicating it is likely a fixer-upper or a home suited for those comfortable with a property that needs updates.
The property suits first-time buyers, investors, or handy individuals looking for an affordable entry point into the market. Its assessed value is significantly below the city average, suggesting a lower tax burden and a price point focused on the land and location rather than the current structure. A thoughtful perspective is that while the home itself is older and unrenovated, its lot size ranks well within its immediate area, offering a relative scarcity of space that newer infill properties often lack. It’s a property where the value is more grounded in its location and parcel of land than in its present condition.
Frequently Asked Questions
1. Is this a move-in ready home?
Based on the details, it is not. The basement is noted as "not renovated," and the home's age (1911) and assessed value suggest it likely requires modernization and upkeep.
2. What is the real cost advantage of such a low assessed value?
The primary advantage is a significantly lower municipal property tax bill compared to homes with a higher assessed value, which improves long-term affordability.
3. How does the lot size compare to others?
The lot is a key feature. At just under 3,000 sqft, it is larger than many lots in Burrows Central and ranks in the top 65% on its own street, offering more private outdoor space than is typical for the area.
4. Who would this property not suit?
It would not suit buyers seeking a modern, low-maintenance, or turn-key home. It is better suited for those with renovation plans, a budget for updates, or investors.
5. What does the "one-and-a-half storey" design mean?
This typically indicates a home with a main floor and a second floor under a sloped roof, often with smaller, cozier rooms or dormers. It's a classic Winnipeg design that maximizes space in a compact footprint.