1567 Magnus Avenue

Property Overview: 1567 Magnus Avenue, Winnipeg

Key Characteristics & Appeal

This one-and-a-half storey home, built in 1947, presents a practical opportunity centered on its land and value. Its primary appeal lies in the generous 4,620 sqft lot, which is notably larger than most on Magnus Avenue and in the broader Burrows-Keewatin neighbourhood. This offers valuable outdoor space and potential for gardening, expansion, or simply more privacy than typical area lots. The home itself is modest in size at 840 sqft of living space, with a renovated basement and a detached garage.

Its strongest suit is financial accessibility. With a historically low sale price and assessed value, it represents a very low barrier to entry into the housing market. This isn't a modern, turn-key property; its appeal is for the value-conscious buyer, the hands-on renovator, or an investor looking for a land-holding opportunity. It would suit a first-time buyer willing to grow into and improve a home over time, or someone seeking a manageable property with below-average carrying costs. A thoughtful perspective is that while the home is smaller and older than city averages, it sits on a lot that is a relative standout for the street—suggesting the underlying land is a key asset here.

Frequently Asked Questions

1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes with the city and their inspector.

2. What does the "Top 13% for Land Area" ranking mean for this street?
It means this property's lot size is larger than 87% of the 608 comparable properties on Magnus Avenue. This is its most competitive feature, indicating more yard space than is typical for the immediate area.

3. The assessed value seems very low compared to the city-wide average. Why?
The assessed value reflects the property's market characteristics: its smaller, older home and its location. It indicates lower property taxes, which is a benefit, but also suggests buyers should budget for potential updates and maintenance consistent with a home of this age.

4. Who might this property NOT be suitable for?
It may not suit buyers looking for a move-in-ready home with modern finishes, those who need significant living space right away, or anyone unwilling to take on a property that likely requires ongoing updates and personalization.

5. What should I consider about the neighbourhood given the price point?
The price reflects the Burrows-Keewatin market. Prospective buyers should visit at different times, research area amenities, and consider their commute to ensure the location meets their daily needs, as the financial savings are a trade-off with location preferences.