Property Summary: 632 Magnan Street, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-storey home built in 1952 on a standard-sized lot in Winnipeg's Buchanan neighbourhood. Its key characteristic is its value-oriented proposition. With a living area of 918 sq ft, no basement, and no garage, the home is compact and straightforward. The appeal lies squarely in its land and its price point. The lot size is above average for the immediate street and represents a solid footprint in the city. Recent sale prices have been consistently low, suggesting an entry point into the market or a land-value opportunity.
This property would suit a specific type of buyer: a first-time purchaser or investor comfortable with a smaller, older home that may require updates, viewing it as a canvas for renovation or a long-term land hold. It could also appeal to someone seeking minimal maintenance and utility costs. A less obvious perspective is its potential for those interested in "right-sizing"; the simple layout and lack of basement may appeal to someone looking to simplify without moving into a condo. Its value is primarily in the land and location, making it more of a strategic purchase than a move-in-ready family home.
Section 2: Frequently Asked Questions
1. Is this a teardown or a live-in property?
Based on the very low recent sale prices and the home's age/size, it is likely purchased for its land value. However, the condition isn't specified, so it could be liveable, though potentially requiring significant updates.
2. What does "no basement" mean for storage and utilities?
All living space is on the main floor. Utilities like the furnace and water heater would be in a small utility room on the main level, and storage space will be very limited, a key consideration for occupants.
3. How does the assessed value relate to the sale price?
The assessed value ($230k) is significantly higher than recent sale prices (around $24k). This is not uncommon; assessed value is for municipal taxation and often doesn't reflect market value for very modest or land-value properties.
4. What are the implications of having no garage?
Parking will be on-street or via a driveway if one exists (not specified). This affects convenience, vehicle security, and storage, and is a typical feature of older, compact homes in the area.
5. Why is the lot size highlighted as an appeal?
At 4,577 sq ft, the lot is larger than many on the same street. This provides more outdoor space, potential for additions like a garage or garden, and represents the lasting asset of the property—the land itself.