657 Magnus Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1901-built home with 954 sqft of living space on a 2,463 sqft lot, located in the William Whyte neighbourhood of Winnipeg. Its assessed value for tax purposes is $129,000.
Where its appeal lies: The property sits at a relatively low price point compared to both the immediate neighbourhood and the city at large. Its tax assessment ranks in the bottom 2% citywide, which keeps annual property taxes low. While the living space is slightly below average for the street and community, it’s not dramatically out of step—within 60 sqft of the Magnus Avenue average. The building is older than most surrounding homes, which may appeal to buyers looking for character or a renovation project rather than a move-in-ready modern house.
Who it suits: Buyers who prioritize low carrying costs and aren’t looking for a large yard or expansive square footage. This could work well for someone entering the market at a lower price tier, an investor targeting rental properties in the North End, or a buyer comfortable with an older home who sees value in the neighbourhood’s affordability. It is less suited to anyone wanting a newer build, a generous lot, or a home that already compares favourably to citywide averages.
Frequently Asked Questions
1. How does this home compare to others on Magnus Avenue?
It’s fairly typical for the street in terms of living space (at 954 sqft, close to the 1,017 sqft average) and slightly below average in lot size. The assessed value is about $49,000 less than the street average, so it’s one of the more affordable options on the block.
2. Why is the assessed value so low compared to the city average?
The assessed value reflects the home’s age, size, and lot—all of which are below citywide averages. The city median assessed value is around $390,000, so this property sits well below that. For a buyer, this translates to lower annual property taxes.
3. Is this a good candidate for a renovation?
Potentially. The home is over 120 years old, and its lower valuation suggests it hasn’t been upgraded to current standards. If the structure is sound, there could be room to add value through renovations. That said, an older home in this price range may come with deferred maintenance, so a thorough inspection is important.
4. How does the lot size affect livability?
At 2,463 sqft, the lot is small by any measure—roughly a third of the citywide average. This limits outdoor space and expansion possibilities but also reduces yard maintenance. It’s typical for older urban infill lots in this part of Winnipeg.
5. What are the property taxes likely to be?
Property taxes are based on the assessed value. At $129,000, you can expect taxes to be among the lowest in the city. Exact amounts depend on current mill rates, but this assessment puts the home in the bottom 2% citywide for tax valuation, meaning annual costs will be well below typical Winnipeg levels.