368 Magnus Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a small, older home on an above-average lot in the William Whyte neighbourhood. The living area is 674 sq ft—well below the street, community, and city averages—placing it in the bottom 2% city-wide for size. The property was built in 1894, making it one of the older homes even on a street of older houses (average build year on the block is 1937). The land, however, is a notable asset: at 3,561 sq ft, it’s slightly above the street average and significantly larger than most lots in the immediate community (top 18%). The assessed value is $95,000, far below the local and city medians.
The main appeal here is entry-level affordability in a neighbourhood where prices are already low. The land-to-building ratio is favourable—you’re buying more dirt than house, which could matter if you’re thinking about future expansion, a workshop, or just wanting outdoor space in a dense area. The home itself is modest and old, so it likely needs work, but the lot gives it flexibility that a typical small lot wouldn’t.
This property would most suit:
- First-time buyers with limited budgets who are willing to take on renovation work
- Investors looking for a low-cost entry in an older, established area with potential for lot value appreciation
- Someone who values outdoor space over square footage inside and doesn’t mind an older floor plan
It’s not for buyers wanting move-in ready, turnkey space or those who need a large modern layout without significant investment.
Five Possible FAQs
1. Is the house livable as-is, or should I expect major renovations?
At 130 years old, this is a very old structure. The listing doesn’t indicate condition, but with an age like that in this price range, you should expect outdated systems (electrical, plumbing, heating) and possibly structural issues. A thorough inspection is essential. This isn’t a “fresh paint and move in” property.
2. The lot is bigger than the house—what are the practical implications?
It means you have more flexibility than the neighbours. You could add a garage, build a deck or garden, or eventually expand the house. But it also means more yard maintenance, and the lot size alone doesn’t guarantee you can subdivide or build a second unit—check zoning with the city first.
3. How do property taxes compare to other homes in the area?
The assessed value is $95,000, which is well below the neighbourhood average of $149,000. Your taxes will be proportionally low. Just keep in mind that reassessments can happen, and if you renovate or add square footage, the value—and taxes—will likely rise.
4. What’s the neighbourhood like, and is it improving?
William Whyte is an older, lower-income area with a mix of century homes and some vacant lots. It’s not a high-demand neighbourhood, but prices are low, and there’s been some reinvestment in nearby areas. It’s worth driving through at different times to get a feel for the street and nearby amenities.
5. How does this home compare to others on Magnus Avenue specifically?
On its own street, it’s among the smallest (top 91% smallest), oldest (top 98% oldest), and lowest-assessed (top 89% lowest). The lot, however, is right around the street average. So it stands out for being a small, old house—but not for its land, which is typical for the block.