Key Characteristics & Appeal
This 1905 home on Magnus Avenue is a compact, older property in Winnipeg’s William Whyte neighbourhood. With 749 sqft of living space and a 2,727 sqft lot, it sits well below average in size for its street, community, and the city at large. Its assessed value reflects that—just $82,000, compared to a city-wide average of $390,000. The building is older than most nearby homes, even within an area where the average construction year is 1927.
The appeal here isn’t in space or modern finishes, but in affordability and potential. It’s one of the lowest-priced properties in the entire city, which makes it suitable for buyers with limited budgets who are open to a fixer-upper or a long-term investment. That said, the low ranking in both size and land value means resale will depend heavily on renovations or the desirability of the neighbourhood down the line. It could suit first-time buyers looking for a low-cost entry point, or investors willing to hold and improve a property in a less central area. The modest footprint also makes it a candidate for downsizing or a starter home where low carrying costs are the priority.
Frequently Asked Questions
1. Is the property in good condition?
The listing data doesn’t include condition details. Given the age (1905) and low assessed value, it’s reasonable to expect deferred maintenance or outdated systems. A thorough home inspection would be essential before purchase.
2. Why is the assessed value so low compared to the neighbourhood average?
The neighbourhood average ($149,000) is already well below the city average, but this property’s value ($82,000) is lower still—likely due to its smaller size, older construction, and possibly less desirable location within William Whyte. Assessments are based on recent sales and condition estimates, so it may also reflect visible wear.
3. Is this a good investment?
That depends on your goals. The low purchase price means lower risk entry, but the property’s size and age limit its ceiling unless you renovate. The neighbourhood’s overall value is also below city average, so gains may be modest without broader area improvement.
4. How does the lot size compare to others in the area?
The lot (2,727 sqft) is slightly smaller than the neighbourhood average (3,277 sqft), but it’s closer to typical for the street (3,518 sqft). For a 1905 home, the yard is modest but functional for a single-family dwelling in an urban setting.
5. What should I expect from a 1905 home in terms of maintenance?
Homes from this era often have older wiring, plumbing, and foundations. They may also lack modern insulation. Budgeting for electrical upgrades, new plumbing, and possibly structural work is wise, especially if the property hasn’t been updated recently. Check the accessible records for any renovation permits.