Property Overview: 1068 Magnus Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1947, presents a practical opportunity centered on its generous lot and solid fundamentals. Its primary appeal lies in the substantial 4,794 sqft lot, which ranks well above average for both the immediate street and the broader Burrows Central neighborhood. This offers significant outdoor space and potential for gardening, expansion, or future development, subject to zoning.
The living area of 1,316 sqft is also notably spacious compared to nearby homes. The property includes a detached garage and a basement that is present but not renovated, indicating a canvas for customization. The assessed value is modest relative to the citywide average, suggesting a more accessible entry point into the market.
This home would suit a value-conscious buyer, such as a first-time homeowner or an investor, who prioritizes land size over move-in-ready finishes. It’s ideal for someone comfortable with a project, whether that means updating the interior over time or utilizing the large lot as a long-term asset. The numbers indicate you’re acquiring a property that stands out in its local context for space, rather than for modern amenities or recent renovations.
Section 2: Frequently Asked Questions
1. What does "above average" for land area actually mean here?
It means the lot size is larger than 91% of comparable properties on Magnus Avenue and 88% in the Burrows Central neighborhood. This is the home's most distinguishing statistical feature.
2. Is the basement finished or usable?
The listing specifies the basement exists but is "not renovated." Buyers should budget for potential updates and investigate its current condition, moisture levels, and ceiling height for future use.
3. How does the sale price compare to the assessed value?
The home last sold in January 2022 for $28,500, which is close to its current assessed value of $26,400. This recent sale provides a clear, tangible benchmark for its market value.
4. The home was built in 1947. What should I be aware of?
While the building age is typical for the area, prospective buyers should factor in potential updates to major systems like wiring, plumbing, and insulation that are common for homes of this era. A thorough inspection is advised.
5. Who are the typical neighbors or comparable properties?
Nearby homes on Magnus and Burrows Avenues vary in size and era, from 1909 to 1972, with a mix of smaller and larger living areas. This suggests a diverse, established streetscape without a uniform character.