Property Overview: 1543 Magnus Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1947, presents a straightforward opportunity in Winnipeg's Burrows-Keewatin neighbourhood. Its primary appeal lies in its land: the 4,621 sqft lot is notably larger than most on Magnus Avenue, placing it in the top 12% for lot size on the street. This offers valuable outdoor space and potential in a city where larger lots are increasingly rare. The 980 sqft living area is modest but practical, and the presence of a detached garage adds functional storage or workshop space.
The home suits buyers looking for an entry point into the market, an investor seeking a rental property, or a hands-on individual interested in a longer-term project. Its assessed value is significantly below the citywide average, indicating an accessible price point. A thoughtful perspective is that while the home itself is unrenovated, its above-average lot size for the immediate area provides a form of "land equity" that smaller, newer lots cannot offer. It’s a property where the value is anchored more in its location and parcel of land than in its current structure, appealing to those who see potential beyond the existing finishes.
Section 2: Frequently Asked Questions
1. What does "unrenovated basement" typically mean?
It indicates the basement is in original or functional condition but hasn't been modernized into a finished living space. Buyers should budget for potential updates to insulation, flooring, or layout to suit their needs.
2. How significant is the lot size compared to the neighbourhood?
Very. The lot is in the top 12% on Magnus Avenue, meaning it's larger than 88% of its direct neighbours. This is a standout feature for gardening, expansion, or simply having more private outdoor space than is typical on the block.
3. The home is older than many in Burrows-Keewatin. What should I consider?
Built in 1947, it's older than 83% of homes in the neighbourhood. A pre-purchase inspection is crucial to understand the condition of major aging components like the roof, plumbing, electrical systems, and foundation.
4. Why is the assessed value so much lower than the Winnipeg average?
The assessed value reflects the property's current state, size, and specific market area. It highlights that this is a more affordable option within the city, but the sale price will be determined by current market conditions, not the assessment alone.
5. Who would this property not be suited for?
It may not suit buyers seeking a move-in-ready home with modern amenities, or those unwilling to take on a property that likely requires updates and maintenance over time.