Property Overview: 903 Magnus Avenue
Key Characteristics & Appeal
This 1930-built, one-and-a-half storey home in Burrows Central presents a practical and affordable entry point into the Winnipeg market. Its key features include a renovated basement and a detached garage. The living space (812 sq ft) is compact, offering a manageable layout for smaller households. The lot size (2,463 sq ft) is modest for the street and city, but typical for the immediate neighbourhood.
The primary appeal lies in its value and condition. With an assessed value significantly below the city average, it represents a lower barrier to entry. The renovated basement adds functional living space, a key update for a home of this era. It’s well-suited for first-time buyers, investors, or downsizers seeking a straightforward, no-frills property with one major renovation already addressed. A thoughtful perspective is that its smaller scale and lot can mean lower maintenance costs and less upkeep, offering a simpler lifestyle. Its average rankings for age and value within its own neighbourhood suggest it’s a typical, blended-in property for the area, not an outlier.
Frequently Asked Questions
1. Is the renovated basement a legal suite?
The provided details confirm the basement is renovated but do not specify if it’s a legal, rentable suite. This is a crucial point to verify with the listing agent and city permits.
2. How does the smaller lot size impact me?
The lot is below average in size for the city. This typically means less outdoor maintenance but also limited space for expansions, large gardens, or additions. It’s a trade-off that prioritizes efficiency over spacious grounds.
3. What should I expect from a home built in 1930?
While the basement is updated, the main structure is 96 years old. Prospective buyers should budget for potential updates to original components like wiring, plumbing, windows, and the roof, and should prioritize a thorough inspection.
4. The assessed value seems very low compared to the city average. Why?
Assessed value for tax purposes is not market value. This low assessment primarily reflects the home’s smaller size, older age, and neighbourhood when compared to the city-wide average, which includes newer, larger homes in higher-value areas. Market price is determined by current buyer demand.
5. What is the neighbourhood like?
The home is in Burrows Central. Nearby properties on Magnus Avenue and the provided comparable listings suggest a mix of early to mid-20th century homes, indicating a mature, established community.