Property Overview: 1498 Magnus Avenue
This two-storey home, built in 2019, stands out in its Burrows-Keewatin neighbourhood for its modern age and above-average living space. Its primary appeal lies in being a relatively new, low-maintenance property in an area predominantly composed of much older homes. The renovated basement adds functional living space. The lot size is typical for the street but smaller than the neighbourhood and city averages, resulting in a manageable yard. It suits first-time buyers seeking a modern home without a premium price tag, or practical investors looking for a newer rental property with minimal immediate upkeep. A thoughtful perspective is that this home offers modern efficiency (like newer wiring, windows, and plumbing) in a community with classic character, representing a unique hybrid in the local market.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value reflects the local market in Burrows-Keewatin, where property values are generally lower than the Winnipeg city-wide average. This home's assessment is actually among the top 2% in its immediate neighbourhood.
2. What does the "Elite" ranking for Year Built mean?
It means this 2019-built home is exceptionally new compared to its peers. On its street and in its neighbourhood, it ranks in the top 1-2% for recent construction, where the average home was built in the late 1930s to early 1950s.
3. Is the living space sufficient for a family?
With 1,355 sqft over two storeys plus a renovated basement, it provides a functional layout. It offers more living area than 86% of homes in the immediate area, making it spacier inside than most nearby properties, despite the modest yard.
4. What are the implications of having no garage?
Parking will be on-street or via a potential driveway. This is common for the area. Buyers should factor in the lack of sheltered parking for vehicles and storage, though it also means no garage maintenance.
5. How does the 2019 sale price relate to today's value?
The home sold for $31,100 in 2019, shortly after being built. The current assessed value is $37,400, which provides a benchmark, but the actual market price will be determined by current conditions, recent upgrades, and buyer demand for a rare newer home in the area.