Property Overview
1055 Magnus Avenue is a well-maintained, one-storey home built in 2016, offering a modern foundation in the established Burrows Central neighbourhood. Its key appeal lies in the balance between a newer, low-maintenance structure and a modest, manageable scale. The home sits on a roughly 2,800 sqft lot, which is typical for the street, and features a renovated basement and a detached garage.
Key Characteristics & Ideal Buyer
This property stands out primarily for its age. Built just 10 years ago, it is a modern exception on a street and in a neighbourhood where the average home is decades older, ranking in the top 3% locally for its year of construction. This translates to fewer immediate concerns about major aging components like roofing, wiring, or plumbing. The living space (935 sqft) is compact and efficient, suited for a smaller household. The renovated basement adds valuable flexible space.
Its appeal is for the practical, value-conscious buyer. It would suit a first-time homebuyer seeking a move-in-ready, modern home without the premium price of a brand-new build, or an investor looking for a newer asset with potentially lower upkeep costs. It’s a sensible choice for those who prioritize the condition and efficiency of the structure itself over having a large lot or expansive square footage. A less obvious perspective is that its above-average assessed value for the immediate area suggests it is already recognized as an updated asset, which could provide stability in a market that increasingly values modern efficiency.
Frequently Asked Questions
1. How does the lot size compare?
The land area of 2,799 sqft is very close to the average for both Magnus Avenue and the wider Burrows Central neighbourhood. It provides a standard urban yard space.
2. Why is the assessed value higher than many neighbours?
The assessed value of $28,800 is notably above the local average, ranking in the top 7% on its street. This is almost certainly due to its modern build year (2016) compared to the much older average home in the area, reflecting its contemporary construction and systems.
3. Is the living area small?
At 935 sqft, the above-ground living area is slightly below the street average but typical for the neighbourhood. When combined with the renovated basement, the total usable space is increased, offering a functional layout for a smaller household.
4. What does the "renovated basement" include?
The listing confirms the basement is renovated but does not specify the finish or rooms. This should be verified with the seller or listing agent to understand if it includes additional bedrooms, a living area, or a legal suite.
5. How does the 2016 build date impact insurance or utilities?
A newer home like this may benefit from more modern building codes, potentially leading to lower heating costs due to better insulation and more efficient systems. It may also be viewed favourably by home insurance providers due to newer electrical, plumbing, and roofing.