808 Magnus Avenue

Property Overview: 808 Magnus Avenue

Key Characteristics & Appeal

This is a classic one-and-a-half storey home built in 1911, offering a blend of historic character and practical fundamentals. With 924 sqft of living space on a generous 3,581 sqft lot, it presents a manageable footprint with ample outdoor potential. The home includes a basement, noted as unrenovated, and does not have a garage or pool.

Its primary appeal lies in its value proposition and location within the established Burrows Central neighbourhood. The assessed value of $150,000 positions it as an accessible entry point into the Winnipeg market. The lot size is notably above average, ranking in the top 20% city-wide, which is a significant asset for future expansion, gardening, or outdoor living. The home’s age is also a statistical positive, ranking newer than 94% of Winnipeg homes, suggesting a potentially solid foundation and build quality for its era.

This property would suit first-time buyers or practical investors looking for a straightforward, no-frills property with good land value. It’s a candidate for those comfortable with a home that may require updates over time, seeing the unrenovated basement as a blank canvas rather than a drawback. The buyer should value lot size and location metrics over immediate move-in readiness.

Frequently Asked Questions

1. What does the ranking data (e.g., "Top 20% in Winnipeg") actually mean?
These rankings compare this specific property metric against all others in the stated area. For example, the lot size being in the "Top 20% in Winnipeg" means it is larger than 80% of residential lots in the city, which is a standout feature for this property.

2. The home sold for $16.80k in 2021 but is now assessed at $150k. Why the large difference?
The 2021 sale price is exceptionally low and not indicative of standard market value. It often suggests a non-arms-length transaction, such as a transfer between family members, or a sale "as-is, where-is" with significant conditions. The current assessment is the city's valuation for tax purposes and is a better gauge of its perceived market value.

3. What are the implications of having an unrenovated basement?
This means the basement is in original or utilitarian condition. It provides functional space for storage, laundry, or mechanical systems but will likely require investment for finishing, moisture-proofing, or creating living space. It’s a factor in the home’s affordability and represents both a current cost-saving and a future opportunity.

4. How does the lack of a garage affect daily life and value?
The absence of a garage means relying on on-street parking and finding alternative storage solutions. In this neighbourhood and price segment, it is a common feature. Buyers should factor in the cost and feasibility of adding a shed or future garage, for which the large lot provides good potential.

5. The home is over 110 years old. What should I be most concerned about?
While the rankings indicate it's structurally newer than most Winnipeg homes, key concerns for a 1911 build typically include the foundation, original plumbing and electrical systems (unless documented upgrades exist), insulation, and the roof. A thorough inspection is essential to understand the condition and timeline for any major updates.