576 Magnus Avenue – Property Summary
Key Characteristics & Buyer Profile
This 1,633 sqft home on Magnus Avenue in Winnipeg's William Whyte neighbourhood stands out most for its size. On its own street, it ranks in the top 5% for living area, nearly 60% larger than the street average of 1,017 sqft. Within the wider neighbourhood, it places in the top 11%, and citywide it sits in the top 24%. At 1,633 sqft, this is a genuinely spacious property relative to its immediate surroundings.
The home was built in 1962, which makes it newer than most homes on Magnus Avenue (average 1937) and newer than the neighbourhood average (1927). Citywide, it's roughly middle-of-the-pack in age. The lot is 3,570 sqft—about average for the street, above average for the neighbourhood, but smaller than the typical Winnipeg lot.
Its assessed value is $204,000. That's slightly above the street average of $178,000 and well above the neighbourhood average of $149,100, but significantly below the citywide average of $390,100. In other words, you're getting a large home in a neighbourhood where values haven't yet caught up to the citywide median.
Where the appeal lies: The main draw is space per dollar. Buyers get a house with living area that competes with much more expensive parts of the city, but at a price point that reflects William Whyte's current market. The home is also newer than most of its neighbours, which can mean fewer major structural surprises than a pre-war property.
Who it would suit: Buyers who prioritize interior square footage over lot size, and who are comfortable in an older, inner-city neighbourhood that's still building value. It's less suited for someone looking for a large yard or for a home in a high-appreciation area with polished curb appeal. This is a pragmatic choice for anyone who needs room to spread out without stretching their budget to citywide averages.
Five Frequently Asked Questions
1. How does the assessed value compare to similar homes on the street and in the city?
The home is assessed at $204,000, which is about 15% above the street average of $178,000 and 37% above the neighbourhood average of $149,100. However, it's roughly half the citywide average of $390,100. The value reflects the home's larger size relative to its immediate area, but also William Whyte's position below the Winnipeg market as a whole.
2. Is the lot big enough for additions or a garage?
At 3,570 sqft, the lot is average for Magnus Avenue but above average for the neighbourhood. It's not oversized by any means—citywide lots average nearly double that—so any expansion would need careful planning. A single-car garage or a modest addition may be feasible, but a large workshop or extensive landscaping would be tight.
3. How does the home's age affect maintenance expectations?
Built in 1962, the home is newer than most on the street and in the neighbourhood, where averages are 1937 and 1927 respectively. This means it likely has a more modern foundation, electrical system, and framing than many nearby homes. However, it's still over 60 years old, so major systems (roof, furnace, windows, plumbing) may be original or nearing end-of-life. A home inspection is essential.
4. Why is the assessed value below the citywide average despite the large living area?
Location and land value are the main factors. The citywide average of $390,100 includes homes in higher-demand areas with larger lots. William Whyte is a more affordable neighbourhood, and the lot here is smaller than the Winnipeg norm. The home's value comes from its interior space, not from the land it sits on or the prestige of the address.
5. How does this property compare to others in William Whyte specifically?
Within the neighbourhood (ranked #188 out of 1,707 homes), it's in the top 11% for living area and top 16% for assessed value. That means it's one of the larger, more valuable homes in the area. Its lot is also in the top 14% for the neighbourhood, so it's above average on all three key metrics locally, even if citywide comparisons are more modest.