Property Summary: 1525 Magnus Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a modest, one-and-a-half storey home built in 1947, situated on a notably spacious lot in the Burrows-Keewatin neighbourhood. Its primary appeal lies in its land: at 4,621 square feet, the property offers an above-average yard size for its immediate street, presenting a blank canvas for gardening, expansion, or future redevelopment. The home itself, with 979 square feet of living space, is compact and would benefit from modernization.
The property suits practical, value-oriented buyers. It’s a clear candidate for a land-value purchase, ideal for an investor, a builder, or a hands-on homeowner planning a significant renovation or rebuild. First-time buyers seeking an affordable entry into the market with a focus on outdoor space over a large interior may also find it compelling. The very low assessed and recent sale value underscores its as-is condition, positioning it not as a move-in-ready home, but as a foundation for future potential in a mature neighbourhood.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's current state, size, and specific market position. It indicates the home is likely in need of updates and is smaller than the Winnipeg average, placing its value primarily in the land.
2. Is the large lot size a major advantage?
Yes, especially in this context. The lot is larger than most on Magnus Avenue itself. This provides more privacy, outdoor space, and flexibility than neighbouring properties, which is a key differentiator.
3. What does "below average" for Year Built in the neighbourhood mean?
It means this home (1947) is newer than most in Burrows-Keewatin, where the average comparable home was built in 1953. This is a relative positive, suggesting potentially fewer age-related issues than some neighbours.
4. Who might this property not suit?
It is not suitable for buyers seeking a turn-key or modern home without renovation plans. The compact living area and dated features require a vision and budget for updates.
5. The home sold recently for its assessed value. What does that suggest?
It suggests a stable, transparent market valuation without a bidding premium. For a buyer, it indicates the price is firmly grounded in the property's official characteristics, not speculative potential.