568 Magnus Avenue

568 Magnus Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 900 sqft home on a 3,569 sqft lot, built in 1905, with an assessed value of $127,000. Located on Magnus Avenue in the William Whyte neighbourhood, the property sits on a lot that is noticeably larger than the neighbourhood average (ranking in the top 15% locally). The living area is around average for the street but below average citywide. The assessed value is low relative to the street and city, which reflects both the age of the home and its modest size.

The appeal is not in modern finishes or space. It lies in the land-to-price ratio. A buyer gets a lot that is generous for the area, with a house that is likely a tear-down or a deep renovation project. The low assessed value and age ranking (83rd percentile on the street, 98th percentile citywide) signal that this is a property for someone comfortable with an older structure and willing to invest sweat equity. It suits a buyer with renovation experience or a long-term hold mindset—someone who values land in a central Winnipeg neighbourhood over move-in-ready convenience. It may also appeal to an investor looking for a low-entry property in an area where land is at a premium relative to the house.

Five Possible FAQs

1. How does the lot size here compare to other homes in Winnipeg?
The land area is 3,569 sqft, which is above average for the William Whyte neighbourhood (top 15%) but below the citywide median of 6,570 sqft. So you’re getting a good-sized lot for the immediate area, but not by broader city standards.

2. The house was built in 1905—should I expect major issues?
Yes, it’s very old. Only 2% of properties citywide are older. You should expect outdated systems (plumbing, electrical, possibly foundation), and likely no modern insulation. A thorough inspection is essential. The upside is that older homes in this area often have solid bones, but don’t assume that.

3. Is the assessed value of $127,000 realistic for what the property is worth?
Assessed value is a baseline used for property taxes, not necessarily market value. On Magnus Avenue, the average assessed value is $178k, so this one is below average. Market price will depend on condition, demand in the neighbourhood, and comparable recent sales. The low assessment could mean lower taxes, but also suggests the house needs work.

4. What kind of renovation would make sense here?
Given the small living area (900 sqft) and large lot, an addition or a full rebuild might be more practical than trying to renovate the existing footprint. That said, if the structure is sound, a gut renovation could work. It really depends on your budget and whether you want to keep the original character.

5. Who typically buys homes like this in William Whyte?
It attracts a mix of first-time buyers looking for affordable entry into a central neighbourhood, investors targeting rental or flip opportunities, and homeowners interested in a long-term project. The area has been seeing gradual reinvestment, so there is some upside potential, but it’s not a quick turnaround market.