Property Overview: 183 Magnus Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, century-old home in North Point Douglas, built in 1901. With 909 square feet of living space on a 2,698 sqft lot, it is smaller than most homes in the area and across Winnipeg. Its assessed value of $146,000 is very modest compared to the city-wide average, positioning it as one of the most affordable entry points into the Winnipeg market.
The primary appeal lies in its value proposition and location. It suits first-time buyers or investors seeking a low-cost foothold in the city. The home’s long history and smaller scale could also appeal to those looking for a manageable project or a minimalist lifestyle, without the upkeep of a larger, modern property. A thoughtful perspective is that its below-average size and assessed value for the city (ranking in the top 97% for affordability) might offer financial flexibility, allowing for renovation within a budget or carrying costs significantly lower than a typical mortgage.
Frequently Asked Questions
1. Is this a good investment property?
Given its low assessed value and sale history, it presents a low barrier to entry for rental investors. However, being a 125-year-old home, potential maintenance costs and the specific rental demand in North Point Douglas should be carefully researched.
2. How does the property compare to others on the street?
The home is older than most on Magnus Avenue (ranking in the top 95% for age, meaning it's among the oldest 5% on the street) and sits on a smaller lot. However, its assessed value is fairly typical for the immediate street, suggesting it aligns with the local market's pricing.
3. What might explain the significant difference between its value and the Winnipeg average?
The city-wide average assessed value is skewed higher by newer, larger homes in suburban areas. This property’s value reflects its older age, smaller size, and its location in a central neighbourhood where property values are generally lower than the city average.
4. Are the sold price ranges shown accurate?
The site uses publicly available data, not MLS records, and displays prices in broad bands. For verified, exact sale figures, you must request a manual lookup via email from the service.
5. What should I consider about a home built in 1901?
Prospective buyers should prioritize a thorough inspection. A home of this age may have outdated electrical, plumbing, or insulation, and may require updates to meet modern standards. Its character comes with the responsibility of maintaining a historic structure.