Property Overview: 905 Magnus Avenue, Winnipeg
Key Characteristics & Appeal
This is a compact, one-and-a-half storey home built in 1929 on a standard city lot in the Burrows Central neighbourhood. Its key practical features include a renovated basement and a detached garage. The data reveals a property of contrasts: while its living space (804 sq ft) is modest even for the immediate area, it sits on a proportionally larger lot compared to many city-wide properties. Notably, its assessed value ranks well above average for both its street and neighbourhood, suggesting updates or conditions that are positively recognized relative to nearby peers.
The appeal here is likely rooted in practicality and potential. It suits a first-time buyer, an investor, or someone seeking a manageable footprint without a sprawling yard. The renovated basement adds functional living space, a significant asset in a smaller home. A thoughtful perspective is that this property may represent an "efficient" holding in the area—carrying a stronger assessed value on paper while offering lower ongoing utility costs and maintenance due to its size. It’s a home for those who prioritize location and lot over square footage, possibly seeing value in the opportunity to expand or customize the existing structure in the future.
Frequently Asked Questions
1. Is the house particularly small?
Yes. With 804 sq ft of living area, it is below the average for Magnus Avenue and significantly smaller than the typical Winnipeg home. However, it is closer to the average size within the broader Burrows Central neighbourhood.
2. Why is the assessed value relatively high for the area?
The home’s assessed value ranks in the top 20% on its street and top 19% in Burrows Central. This typically reflects factors like the renovated basement, overall condition, or improvements that add value beyond the basic size and age of the property.
3. What does the lot size mean for me?
At 2,463 sq ft, the lot is smaller than many on Magnus Avenue but is a standard city lot for the neighbourhood. It offers a manageable outdoor space with room for a garage, parking, and a yard without excessive upkeep.
4. How does the 2021 sale price relate to the current assessed value?
The home sold for $21,200 in April 2021. The current assessed value is $23,200, which is a reasonably close alignment, indicating a stable valuation in line with the recent market transaction.
5. Are homes this age a concern?
Built in 1929, the home is average in age for its street and neighbourhood. While this means potential for character and established trees, it also warrants a careful inspection for updates to major systems like wiring, plumbing, and the roof, which should be factored into any offer.