Property Overview: 1043 Magnus Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1948, presents a practical opportunity in Winnipeg's Burrows Central neighbourhood. Its key characteristic is a renovated basement, adding valuable finished space to the 876 sqft living area. The lot is a notable feature at 3,732 sqft, which is above average for both the immediate street and the broader neighbourhood, offering more outdoor space than many comparable properties.
The appeal lies in its position as a grounded, value-conscious entry point into the market. With a recently confirmed sale price and an assessed value significantly below the citywide average, it represents an accessible investment. The home suits first-time buyers seeking a manageable footprint with updated essentials, or investors looking for a straightforward rental property with a lower entry cost. The above-average lot size for the area is a less obvious advantage, providing potential for gardening, expansion, or simply more privacy than neighbouring homes.
Section 2: Frequently Asked Questions
1. What does "renovated basement" include?
While the listing confirms the basement is renovated, specific details on the finish, ceiling height, permits, or the nature of the renovation (e.g., cosmetic vs. structural) are not provided. This would be a key point for a viewing or inquiry.
2. How does the low assessed value impact property taxes?
A lower assessed value typically results in lower municipal property taxes compared to homes with higher valuations. This is a practical financial benefit for the owner.
3. Is the living space sufficient for a small family?
At 876 sqft, the living area is compact. The renovated basement likely provides crucial additional functional space, making the home more viable for a small household, but the main floor square footage is below the neighbourhood average.
4. What are the implications of having no garage?
The property has no garage. Buyers should consider the cost and feasibility of adding off-street parking or a storage shed, and assess on-street parking availability, especially in winter.
5. The home is older; what should I be mindful of?
Built in 1948, the home is above average in age for its street. While the basement has been renovated, a thorough inspection of major aging components (like the roof, foundation, plumbing, and electrical systems) is highly recommended to understand any upcoming maintenance needs.