Property Overview: 937 Magnus Avenue
Key Characteristics & Appeal
This is a classic one-and-a-half storey home built in 1911, presenting a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Its key characteristic is its modest scale, with 864 sqft of living space and a 2,463 sqft lot that is smaller than many city lots but typical for its immediate area. The home has an unfinished basement and no garage.
The primary appeal lies in its position as an affordable, no-frills entry point into the housing market. With a historically low assessed value and a last sale price well below the city average, it suits first-time buyers, investors, or renovators looking for a lower-stakes project. Its lot size, while below the city-wide average, is actually close to the norm for the street and neighbourhood, suggesting a more manageable outdoor space for those not wanting extensive yard maintenance.
A thoughtful perspective is that this property represents the statistical "average" for its specific locale in several metrics—land area, living area, and assessed value all rank near the middle of the pack for Magnus Avenue itself. This indicates it is a characteristic example of the housing stock on this block, offering a chance to own a piece of the neighbourhood's fabric without a premium price tag. It would suit a pragmatic buyer who values location and potential over turn-key condition or size.
Frequently Asked Questions
1. What does the "Top 97%" city-wide ranking for assessed value mean?
This means the home's assessed value is lower than approximately 97% of all properties in Winnipeg. It highlights the significant affordability of this home compared to the broader market, but also indicates it is valued well below the city average.
2. Is the lot size a disadvantage?
While the land area is below the Winnipeg average, it is much more aligned with—and only slightly below—the average for both Magnus Avenue and the Burrows Central neighbourhood. For buyers seeking a smaller, more manageable yard, this could be a practical fit rather than a drawback.
3. What can nearby sales tell us?
The listed nearby properties, which last sold between $150k and $120k, help establish a recent price range for similar, modest-sized homes in the immediate area. This provides a concrete benchmark for value.
4. The home was built in 1911. What should I consider?
As a 115-year-old home, prospective buyers should prioritize a thorough inspection. While the systems and structure may be functional, updates and maintenance consistent with the age of the property are likely needed. The unfinished basement offers flexibility but may also require attention to fundamentals like moisture control and insulation.
5. Who might this property not suit?
This home is likely not a match for buyers seeking modern finishes, ample storage (note the lack of garage), significant living space, or a large private yard. Its value proposition is rooted in affordability and location, not in size or contemporary amenities.