Property Overview: 384 Magnus Avenue, Winnipeg
Key Characteristics & Appeal
This is a classic, early-20th century one-and-three-quarter storey home in the William Whyte neighbourhood, built in 1901. Its primary appeal lies in its combination of historic character and practical updates, notably a renovated basement. The home sits on a larger-than-average lot (3,561 sqft) for the immediate area, offering valuable outdoor space. While the living area is a comfortable 1,420 sqft, the property’s standout metrics are its very low property tax assessment and its position as one of the older homes on its street and in the city—a point that attracts buyers interested in heritage charm but who should be mindful of maintenance typical for a home of this age.
It would suit a pragmatic first-time buyer or an investor looking for a character home with a key renovation already completed. The low assessed value suggests manageable property taxes, which is a significant long-term benefit. The appeal is grounded in value and potential rather than luxury; it’s for a buyer who sees virtue in a home that ranks highly for lot size and affordability rather than modern finishes or new construction.
Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing confirms the basement has been renovated, but specifics on the scope, quality, permits, or whether it includes a legal suite are not provided. This would be a key point for verification during a viewing and inspection.
2. How does the low assessed value impact property taxes?
A $14,800 assessment is exceptionally low, which should translate to very low municipal property taxes. This is a major financial advantage, making the home’s ongoing costs more affordable than many others.
3. The home is 125 years old. What should I be prepared for?
While charming, a home from 1901 will likely require diligent maintenance. Prospective buyers should budget for potential updates to aging components like plumbing, electrical, or the foundation, and ensure a thorough inspection is conducted.
4. The lot is large, but how is the neighbourhood?
The home ranks in the top half of its street for lot size, offering good space. William Whyte is a mature, central neighbourhood. As with any area, visiting at different times of day and researching local amenities and community plans is recommended to gauge personal fit.
5. Why is the assessed value so much lower than the nearby newer builds?
The 2018 build next door has a much higher assessment, reflecting its new construction, modern systems, and likely higher market value. This highlights that 384 Magnus Avenue is valued for its land, existing structure, and historic profile, appealing to a different buyer priority: lower taxes and character over new condition.