804 Magnus Avenue

Property Overview

This one-and-a-half storey home on a standard-sized lot in Burrows Central presents a straightforward opportunity. Built in 1931, its key characteristic is space: at 1,301 sqft, the living area is notably larger than most comparable homes in the immediate area and on the street. This is balanced by an unrenovated basement and a detached garage. The appeal lies in its value proposition—it offers more interior room than typical for its assessed value tier in this neighbourhood. It last sold in June 2022.

This property would suit a practical buyer looking for a footprint with potential, whether as a first home or a long-term hold. It’s for someone comfortable with a home that may require updates, who prioritizes interior space over modern finishes or a large yard. A less obvious perspective is that, while its city-wide rankings are modest, its strong standing within the local context makes it a relatively spacious option in its price range, which could be a strategic advantage.

Frequently Asked Questions

1. What does "unrenovated basement" typically mean for a home of this age?
It generally indicates the basement retains its original state, likely with a concrete floor, basic walls, and fundamental mechanical systems. It offers functional space and storage but will require investment to modernize or finish.

2. How significant is the living area being "above average" for the street?
It’s a meaningful differentiator. Compared to neighbours, you’re getting substantially more enclosed living space, which can offer greater layout flexibility or room to grow without the premium price of a larger lot.

3. The assessed value seems low. What does this indicate?
The assessed value is for municipal tax purposes and reflects factors like age, condition, and local market trends. In this case, it aligns with the home’s unrenovated state and is consistent with values on the same street, suggesting the price is grounded in the current character of the immediate area.

4. Who might the detached garage be important for?
Beyond vehicle storage, it appeals to buyers needing workshop space, extra storage for tools or seasonal items, or those who want a clear separation between their vehicle and the main house. It offers flexibility that an attached garage does not.

5. Given the 2022 sale, what should I consider?
The recent sale indicates a motivated seller was in the market just two years ago. It’s worth investigating if any updates were made in that short period or if the sale circumstance might inform the current listing.