Property Overview
This one-and-a-half storey home on Magnus Avenue, built in 1924, presents a practical opportunity in Winnipeg's Burrows Central neighbourhood. Its key appeal lies in a renovated basement and a detached garage, sitting on a roughly 3,000 sqft lot. The home itself is compact at 980 sqft of living space, which is fairly typical for the immediate area. A standout point is its assessed value, which ranks notably higher than many of its local peers, suggesting it may have features or conditions that are officially valued above the neighbourhood norm. It last sold in December 2020 for $230,000.
This property would suit a first-time buyer or an investor looking for a character home with some updates in a established neighbourhood. Its manageable size and already-completed basement renovation reduce the immediate need for major projects. The lot size offers potential for outdoor space or future expansion, subject to local regulations. Buyers seeking a move-in ready, low-maintenance starter home with a classic layout will find its profile straightforward.
Frequently Asked Questions
Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. A buyer should verify its compliance with local zoning and building codes, especially if rental income is a consideration.
How does the high assessed value compared to neighbours affect property taxes?
While a higher assessed value can indicate positive attributes, it is also a primary factor in calculating property taxes. Buyers should budget accordingly, as taxes may be proportionally higher than for some nearby homes.
What is the significance of the "one-and-a-half storey" design?
This classic Winnipeg design typically features a main floor with principal rooms and a second floor under sloped ceilings, often with cozier bedrooms. It offers character but may have less full-height space than a true two-storey.
Are the mechanical systems (roof, furnace, plumbing) original or updated?
Given the home's age (102 years), the condition and age of major systems are a crucial consideration. The listing does not detail these updates, so an inspection is highly recommended.
How does the sale history and 2020 sale price inform the current value?
The 2020 sale provides a recent benchmark, but market conditions have likely shifted. Comparing this to current listings and sales in Burrows Central will be essential for understanding today's fair market value.