760 Magnus Avenue — Property Summary

Key Characteristics & Buyer Profile

This is a modest, older home in the William Whyte neighbourhood of Winnipeg, built in 1937. Its standout feature is the lot size: at 3,578 square feet, the land is above average for the surrounding area (top 11% in the neighbourhood) and roughly in line with other properties on Magnus Avenue. The living area, however, is below typical for both the street and the city. Assessed value sits at $55,000—significantly lower than the neighbourhood average of $149,100 and far below the citywide average for comparable homes.

The appeal here is straightforward: you're buying land, not a showpiece house. The low assessed value suggests the structure may need significant work or replacement altogether. This property would suit a buyer looking for a renovation project, someone planning to build new on an existing lot, or an investor comfortable with below-average living space who sees potential in the land. It's less suited for anyone seeking a move-in-ready family home or a property with strong resale value in the short term.

Five Frequently Asked Questions

1. Why is the assessed value so low compared to others on the street?
The home's assessed value ranks near the bottom of Magnus Avenue. This likely reflects the age, condition, or size of the structure itself—not the land. The lot value is separate, and its above-average size in the neighbourhood softens the overall picture.

2. Is this property in a desirable neighbourhood?
William Whyte is an older, centrally located area with a mix of housing stock and ongoing reinvestment. It ranks in the bottom 1% for assessed values citywide, so it's not a high-demand area by conventional metrics. That said, low entry costs and rising land values in surrounding neighbourhoods have drawn buyers willing to renovate.

3. What should I budget for beyond the purchase price?
Given the year built and low assessed value, budget for major systems updates—electrical, plumbing, heating—and likely structural repairs. A thorough home inspection is essential. The lower living area also means renovation costs per square foot could be higher if you plan to expand.

4. How does the lot compare to other properties in Winnipeg?
Citywide, the lot is smaller than average (top 80% by size), but within William Whyte, it's notably larger than most. This is a common pattern in older urban neighbourhoods: lots are more generous than newer suburban ones, even if they're not huge by city standards.

5. Is this a good investment for a fix-and-flip?
It depends on your timeline and neighbourhood knowledge. The low acquisition cost is an advantage, but resale potential depends on how much work is needed and whether comparable renovated homes in the area sell at prices that cover your costs. The top 11% lot rank in the neighbourhood is a real asset—larger lots are harder to find in this area.