Property Overview
This one-and-a-half storey home on a 4,650 sqft lot presents a straightforward opportunity in Winnipeg's Burrows-Keewatin neighbourhood. Built in 1948, its key characteristic is the generous lot size, which ranks in the top 11% for Magnus Avenue, offering above-average outdoor space. The 940 sqft living area is typical for the immediate area, and the property features a detached garage and an unrenovated basement. It last sold in March 2022.
The appeal lies in its value proposition as a land play or a foundational project. The lot is significantly larger than many on its street, providing room for expansion, gardening, or future development. It suits a practical buyer looking for an entry point into the market—perhaps a first-time homeowner comfortable with a home that may require updates, or an investor considering the long-term value of the land itself. Its assessed value is above average for the street, suggesting it is already viewed as a solid asset in its micro-location.
A less obvious perspective is that this property represents a "blank canvas" within an established community. Its unrenovated state and classic layout allow a new owner to tailor improvements without the premium of a fully modernized home, while the larger lot offers a rarity that newer subdivisions often lack.
Frequently Asked Questions
1. What does "one-and-a-half storey" typically mean for a home of this era?
It usually indicates a home with a main floor and a second floor under sloping rooflines, often featuring cozier bedrooms or finished attic space. This design is common for Winnipeg homes built in this period.
2. The assessed value seems low. What does this indicate?
The assessed value is for municipal tax purposes and is not the market value. Its ranking shows it is above average for Magnus Avenue, reflecting its relative standing on the street. Market value is determined by recent sales of similar properties and current demand.
3. How significant is the lot size?
Very. At 4,650 sqft, the lot is over 1,000 sqft larger than the street average. This is a standout feature, offering more private outdoor space and potential than most neighbouring properties.
4. What should I consider about the unrenovated basement?
An unrenovated basement means the foundational systems (like plumbing, electrical, and insulation) are likely in their original state. It should be inspected thoroughly, but it also presents an opportunity to finish the space to your own specifications without first undoing someone else's work.
5. The home sold recently in 2022. Is that a concern?
Not necessarily. The previous sale provides a clear, recent price benchmark. The reasons for a quick resale can vary widely—from an investor's flip to a change in an owner's circumstances—and would be clarified through further inquiry.