Property Overview: 1028 Magnus Avenue, Winnipeg
Key Characteristics & Appeal
This is a classic one-and-a-half storey home in Burrows Central, built in 1910. With 924 sqft of living space and a nearly 3,000 sqft lot, it presents a straightforward opportunity. Its appeal lies in its position as a solid, no-frills property in a mature neighbourhood. The lot size is notably above average for the immediate street and area, offering good outdoor space relative to nearby homes. The detached garage adds practical utility.
The home suits first-time buyers or practical investors looking for an entry point into the market with room to add value. It’s also a fit for those who prioritize lot size over a recently built or fully renovated home. A thoughtful perspective is that its assessed value is significantly below the citywide average, which, while reflecting its age and condition, also suggests a property tax burden that is relatively manageable compared to much of Winnipeg. The unrenovated basement presents a blank canvas for future expansion, subject to necessary permits and upgrades.
Frequently Asked Questions
What does "around average" for the assessed value mean in this context?
While the assessed value is typical for Burrows Central, it ranks in the bottom 5% citywide. This indicates the home is valued significantly lower than the Winnipeg average, which generally correlates with lower property taxes but also reflects the home’s age and the neighbourhood’s market position.
Is the lot size a standout feature?
Yes, particularly at the local level. The lot is larger than about 64% of those on Magnus Avenue and 76% in Burrows Central, offering more private outdoor space than many direct neighbours, which is a key advantage.
How should I interpret the 1910 build date?
This means the home has character and solid construction from its era, but it absolutely requires a thorough inspection. Buyers should budget for ongoing maintenance and potential updates to mechanical systems, insulation, and windows that are standard for a home of this age.
What is the significance of the 2017 sale price?
The $170k sale price seven years ago provides a historical benchmark, but it should not be used as a direct indicator of current value. Market conditions, interest rates, and the property’s condition have likely changed since then.
Are the nearby comparable properties similar?
The listed nearby homes vary. Some have similar assessed values and living areas, while others differ greatly (e.g., 1074 Burrows Ave is much larger). This highlights that the neighbourhood contains a mix of home sizes and values, with 1028 Magnus Avenue sitting at the more modest, compact end of the spectrum.