Property Overview: 1060 Magnus Avenue
Key Characteristics & Appeal
This one-and-a-half storey home, built in 1911, presents a straightforward opportunity centered on its land and location in Burrows Central. The 1,000 sqft living space is typical for the immediate area, and the property features a detached garage and an unrenovated basement. Its primary appeal lies in its practical attributes: a lot size that is above average for the neighbourhood and a very low assessed value, resulting in correspondingly low property taxes. This is not a move-in-ready showcase but a solid baseline.
The property would suit value-focused buyers looking for an entry point into the market, or investors seeking a rental property with a low carrying cost. It’s also a potential candidate for someone with renovation skills, as the unrenovated basement and older structure offer a blank canvas for updates. A less obvious perspective is that, while the home is older, its lot size is more generous than many in the central part of the city, offering better outdoor space potential than newer, more densely packed infill properties.
Frequently Asked Questions
1. What does "below average" for the sale price actually mean?
The home last sold for $9,500 in 2016, which is significantly below the average for Winnipeg. This reflects its condition and assessed value at that time, indicating it is likely a very affordable property with modest property taxes.
2. How significant is the 1911 build date?
While older, the year is actually around the average for homes on Magnus Avenue. It means the structure and systems will require diligent inspection, but it is not an outlier for this established neighbourhood.
3. The assessed value is $17,500, but what does that mean for taxes?
A low assessed value directly translates to lower municipal property taxes compared to homes with higher valuations, which is a key ongoing cost savings for an owner.
4. Is the land size a notable advantage?
Yes. At just under 3,000 sqft, the lot is larger than about 74% of properties in Burrows Central. This provides more private outdoor space than many nearby homes.
5. How does this home compare to the nearby reference properties?
It sits in the middle of the provided examples. It has more living space than some older, smaller homes on the block but a lower assessed value than a larger, newer property like 1074 Burrows Avenue. This positions it as a mid-range option in terms of space within its specific market segment.