Property Overview: 964 Magnus Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-and-a-half storey home built in 1930, situated on a standard-sized lot in the Burrows Central neighbourhood. Its key characteristic is its position as an affordable entry point into the Winnipeg market. The living space is modest at 765 square feet, and the home features a basement that is present but not renovated, with no garage or pool.
The appeal lies in its value and potential. The lot size is typical for the street and area, offering a manageable outdoor space. For a buyer comfortable with a smaller footprint or looking for a starter home, it represents a lower barrier to entry. The most recent sale price was significantly higher than its assessed value, which is common but indicates a market perception of value beyond the municipal assessment. This property would suit first-time buyers, investors seeking a rental property, or those looking for a straightforward project home without the burden of an oversized lot or structure. A less obvious perspective is that its average rankings for lot size and year built on its own street suggest it fits the established character of the area, potentially offering neighbourhood stability over trendiness.
Section 2: Frequently Asked Questions
1. How does the sale price compare to the assessed value?
The home sold for $130,000 in July 2023, which is substantially higher than its $15,100 assessed value. This is not uncommon, as assessed value for taxation purposes often differs from market value.
2. What is the neighbourhood like for similar homes?
In the Burrows Central area, this home's living area is below the local average. The lot size and year built are fairly typical, placing it in the middle of the pack for the neighbourhood on those metrics.
3. Is the basement finished?
No, the listing specifies the basement exists but is "not renovated."
4. How does the lot size compare to others in Winnipeg?
City-wide, the lot is below average in size. This isn't unusual for older, central neighbourhoods and can mean less maintenance.
5. What are comparable nearby properties like?
Nearby sales on Magnus Avenue and surrounding streets show a mix of similar-sized homes and larger properties, with a wide range of assessed values, reflecting the variety of housing stock in the area.