391 Magnus Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a small, older home in Winnipeg’s William Whyte neighbourhood. At 784 square feet of living area on a 2,728 sqft lot, it’s consistently below average in size compared to other homes on its street, in its area, and across the city. Built in 1901, it’s considerably older than most surrounding properties—ranking in the bottom 5% on Magnus Avenue and the bottom 1% citywide for year built. Its assessed value of $95,000 is also well below local and city medians, reflecting both its age and modest footprint.
The home’s appeal lies primarily in its affordability and entry-level price point. For a buyer who wants to own property in Winnipeg without taking on a large mortgage, this is about as low as it gets in terms of assessed value. The land area, while below average in the neighbourhood, is not dramatically small for an urban lot—ranked around the middle on its street—which leaves some outdoor space. The trade-off is clear: you’re getting an old, small house at a low price, in a neighbourhood where the housing stock is generally older and more affordable than citywide averages.
This property would suit a first-time buyer with limited budget, a handyman or renovator comfortable with an older structure, or an investor looking for a low-cost entry into the Winnipeg market. It is less appropriate for someone seeking modern finishes, generous living space, or a home that will appreciate quickly without significant work. The rankings suggest this is not a property that competes on size, age, or value—it competes on price alone.
Frequently Asked Questions
1. How reliable are the ranking and average data shown?
The rankings compare this home to other “comparable” properties within the same street, neighbourhood, and city. “Average” is described as a rough median benchmark. The data is useful for understanding relative positioning, but exact figures may vary slightly depending on how comparables are defined by the source.
2. Is the assessed value of $95,000 a realistic market price?
Assessed value is used for property tax purposes and may not equal market value. In a low-priced area with older homes, the market price could be close to the assessment, but it’s also common for such properties to sell slightly above or below depending on condition, demand, and recent sales.
3. What condition is a 1901 home likely to be in?
No condition details are provided here. A home built in 1901 could range from well-maintained with updates to needing major structural, electrical, or plumbing work. Buyers should always arrange a professional inspection and be prepared for potential issues common to homes of this era, such as old wiring, lead paint, or foundation concerns.
4. How does the neighbourhood (William Whyte) compare to others in Winnipeg?
This neighbourhood ranks below citywide averages for living area, assessed value, and newer construction. It’s an older, more affordable part of Winnipeg. Buyers should research local amenities, crime statistics, school options, and long-term development plans to understand the area’s character and trajectory.
5. What does “below average” mean for resale potential?
Properties that are smaller, older, and lower-valued than their peers tend to have slower appreciation and may appeal to a narrower buyer pool. That said, if purchased at a low enough price and improved over time, there is potential for equity gain. Resale will depend heavily on market conditions and the home’s condition at time of sale.