Property Overview: 898 Magnus Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This 1929 one-and-a-half storey home in Burrows Central presents a straightforward opportunity centered on its land and location. With 750 sqft of living space and an unrenovated basement, the house itself is compact and requires modernization. Its primary asset is the 3,586 sqft lot, which is above average for the immediate area and offers clear potential for expansion, gardening, or outdoor space in a mature neighbourhood.
The appeal lies in its position as an affordable entry point into the Winnipeg market. It suits practical buyers looking for a land-value play, such as first-time purchasers comfortable with a project, or investors considering a future renovation or hold strategy. The recent sale price aligns closely with the very low assessed value, suggesting a pricing structure that reflects the home’s current condition rather than speculative future value. A thoughtful perspective for a buyer is to see this not just as a small house, but as a proportional canvas in a neighbourhood of similar vintage homes, where the value will be built through selective updates and the utility of the generous lot.
Section 2: Frequently Asked Questions
1. What does "unrenovated basement" typically imply?
It usually indicates the basement is in original or functional condition, but not modernized. Buyers should budget for potential updates to flooring, lighting, or moisture management, and have it inspected to understand its current state and potential.
2. How does the lot size compare practically?
At 3,586 sqft, the lot is larger than many in central Winnipeg neighbourhoods. This provides more private outdoor space than newer infill properties and is a tangible asset that cannot be replicated on tighter lots.
3. Is the low assessed value a concern?
Not necessarily. The assessed value is for municipal tax purposes and is often significantly lower than market value, especially for older homes in transitioning areas. The recent sale price is a more accurate reflection of current market value.
4. What are the considerations for a home built in 1929?
Character and charm come with age-specific maintenance. Prospective owners should prioritize a thorough inspection focusing on the foundation, original plumbing and electrical systems, and the roof's age. Energy efficiency upgrades are often a wise early investment.
5. What is the neighbourhood like for daily living?
Burrows Central is a long-established, no-frills residential area. It offers the practicality of inner-city living. Buyers should visit at different times to gauge traffic, neighbour activity, and proximity to their preferred amenities like transit, schools, and shopping.