Property Overview
This one-storey home on Magnus Avenue presents a practical opportunity in Winnipeg's Burrows Central neighbourhood. Its key appeal lies in being a modest, renovated property on a standard-sized lot, offering a straightforward entry point into the housing market.
Key Characteristics & Ideal Buyer
The 740 sqft home, built in 1948, is compact and efficient. A key feature is its renovated basement, adding functional space. The property includes a detached garage and sits on a 2,799 sqft lot, which is typical for the immediate area but smaller than the citywide average. The assessed value is notably below the Winnipeg average, indicating a lower property tax burden.
Its primary appeal is affordability and manageability. It suits first-time buyers seeking a low-maintenance starter home, or investors looking for a rental property with a stable, below-average operating cost. The renovated basement is a significant asset, potentially offering a separate income suite (subject to verification) or flexible living space. A thoughtful perspective is that while the living area is smaller than many modern homes, this can mean lower utility costs and less upkeep—a practical trade-off for the right buyer.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
This cannot be confirmed from the provided data. A buyer must verify with the city if the basement renovation meets codes for a legal secondary suite or rental.
2. How does the lower assessed value affect property taxes?
A lower assessed value generally results in lower municipal property taxes compared to a similarly sized home with a higher assessment, which is a ongoing cost advantage.
3. The home is older—what should I be concerned about?
While the basement has been renovated, a professional inspection is crucial to assess the condition of major older components like the roof, foundation, and plumbing.
4. How does the lot size compare to neighbours?
At 2,799 sqft, the lot is around the average for both Magnus Avenue and the Burrows Central area, but is less than half the size of an average Winnipeg lot, reflecting the neighbourhood's established, closer-built character.
5. Why is there such a large gap between its assessed value and the citywide average?
This reflects broader market dynamics where assessed values in central, older neighbourhoods like Burrows Central are typically much lower than in newer suburban areas, not necessarily the condition of this specific property.