Property Overview
This 1910 two-storey home on Magnus Avenue presents a blend of historic character and practical updates. Its key appeal lies in offering above-average interior space for the immediate area, featuring 1,272 sqft of living area, which ranks within the top 20% of similar homes on its street. The home sits on a standard city lot and includes a renovated basement and a detached garage. While the building itself is notably older than the city average, its assessed value is strong for the neighbourhood, indicating it is well-regarded within its local market context. It last sold in 2016 for $270,000.
This property would suit a practical buyer looking for a character home with updated fundamentals in Burrows Central. It's ideal for someone who values more interior space over a large yard and appreciates a home that stands out positively in its immediate vicinity for its size and value assessment. It may also attract buyers interested in a home with a lower city-wide tax assessment compared to its neighbourhood standing.
Frequently Asked Questions
1. What does the "renovated basement" entail?
The listing confirms the basement is renovated but does not specify the scope. A professional inspection is recommended to determine the finish quality, ceiling height, and whether it includes a legal secondary suite or additional living space.
2. How does the older year of construction (1910) affect the home?
While the home has historic charm, it likely requires closer attention to foundational integrity, insulation, wiring, and plumbing. Its above-average assessment for the area suggests these systems have been maintained or updated, but a thorough inspection is crucial.
3. The assessed value seems low compared to the 2016 sale price. Why?
Municipal assessed value for taxation purposes is often significantly lower than market value. The fact that this home's assessment is in the top 10% for its street indicates it is valued highly within its local market segment, even if that segment is priced below the city-wide average.
4. Who might this property not suit?
Buyers seeking a modern, low-maintenance home or a very large private yard may find it less suitable. The older age implies potential upkeep, and the lot size is around average for the street.
5. What is the significance of the detached garage?
A detached garage offers flexibility for use as a workshop or storage space separate from the house. However, it may be less convenient during Winnipeg winters compared to an attached garage, so considering its condition and proximity to the back entrance is important.