Property Overview: 842 Magnus Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-storey home on a standard city lot presents a straightforward opportunity, primarily centered on its land and location. Built in 1905, it is a historic property that has not undergone recent renovations, featuring an unfinished basement and a detached garage. With a living area of 814 sqft, the home itself is compact.
The primary appeal lies in its position within the established Burrows Central neighborhood. The lot size is above average for the immediate area, offering valuable outdoor space. The very low assessed value indicates this is an entry-point property. It would suit a buyer looking for a land-value proposition—perhaps an investor, a renovator with a vision for a historic home, or someone seeking the most affordable path to homeownership in a central Winnipeg community. It’s a property for those who see potential over polish and are prepared for a project.
A less obvious perspective is its data-backed context: while the home is modest, its lot size ranks in the top 39% on its own street, suggesting a better-than-average footprint for the block. This could be a key asset for future expansion or outdoor use.
Section 2: Frequently Asked Questions
1. What does "unfinished basement" typically mean for a home of this age?
It likely indicates a foundational cellar space with original stone or concrete walls, used for utilities and storage. It would require significant work to be converted into livable space.
2. How significant is the 1905 build date?
It means the home has character and history but will require particular attention to foundational integrity, insulation, wiring, and plumbing, which may not meet modern standards without updates.
3. The assessed value is notably low. What does this mean for property taxes?
A lower assessed value generally results in lower municipal property taxes, which can improve cash flow for an investor or ease the budget for an owner-occupant.
4. Who might the detached garage benefit most?
It’s a key feature for tradespeople, hobbyists, or anyone needing workshop or storage space that the compact main house doesn’t provide. It also offers potential for conversion, subject to local bylaws.
5. How does this home compare to others on the street?
The data shows that while the house is smaller and older than many on Magnus Avenue, the land parcel is actually larger than over 60% of its direct neighbors, which is a distinct advantage.