Property Overview: 968 Magnus Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-and-a-half storey home built in 1929, situated on a standard residential lot in the Burrows Central neighbourhood. Its key characteristic is its compact size, with 720 sqft of living space, which is notably smaller than most area homes. The property has an unfinished basement and no garage.
The primary appeal lies in its position as an affordable entry point into the Winnipeg market. The lot size is typical for the street, and the home's assessed value is in line with the immediate area, suggesting a lower property tax burden relative to the city-wide average. It last sold in 2016 for $140,000.
This property would best suit a first-time buyer, an investor looking for a straightforward rental property, or someone seeking a minimalist footprint. Its smaller scale makes it manageable for a DIY enthusiast who might see potential in the unfinished basement. It’s a practical choice for those prioritizing location and lot ownership over move-in-ready finishes or spacious interiors.
Section 2: Frequently Asked Questions
1. Is the house in need of major renovation?
While specific conditions aren't listed, the note of an unfinished basement and the home's age (97 years) strongly suggest that updates and maintenance should be expected. Buyers should budget for modernizing essential systems and likely cosmetic updates throughout.
2. How does the small living area affect livability?
At 720 sqft, the living space is significantly below average for the city. This necessitates efficient use of space and would be challenging for a growing family. However, it could be ideal for a single person or couple comfortable with a cozy layout.
3. What are the implications of the assessed value being much lower than the city average?
The assessed value of $16,600 is far below the Winnipeg average, which typically translates to lower municipal property taxes. This is a tangible financial advantage, though it also reflects the home's modest size, condition, and market position.
4. With no garage, what are the parking options?
The property has no garage. Parking would be limited to on-street, which is common for homes of this era in the area. Prospective buyers should verify street parking regulations and availability directly.
5. The home sold for $140k in 2016; is that a useful guide for today's price?
The 2016 sale price is a historical data point, but the market has changed significantly since then. It should not be used as a direct indicator of current value. A professional appraisal or comparative market analysis based on very recent sales is essential.