Property Overview: 172 Magnus Avenue, Winnipeg
Key Characteristics & Appeal
This home at 172 Magnus Avenue in North Point Douglas presents a distinct profile defined by its historical roots and practical value. Built in 1903, it is one of the older homes on its street, offering classic character. With 1,214 square feet of living space, it is notably larger than many neighbouring homes, providing above-average roominess for the immediate area. The lot size of 3,710 sqft is consistent with local norms.
The primary appeal lies in its value proposition. The property's assessed value is significantly below averages for the street, neighbourhood, and especially the wider city. This positions it as an accessible entry point into the market. Its recent sale history (sold in April 2022 within the $100k-$150k range) confirms its status as a lower-priced option. This combination of ample interior space on a standard lot at a low price point creates an opportunity for buyers willing to take on a home with age.
This property would best suit value-driven buyers, such as hands-on renovators or investors looking for a footprint with potential. It’s a practical choice for those who prioritize space and lot location over modern finishes, and who see the lower assessed value not just as a reflection of condition or age, but as a foundation for building equity through updates.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city average?
The assessed value is based on the property's market value as determined for tax purposes. Its ranking in the bottom 1% city-wide indicates it is valued far below most Winnipeg homes, typically due to its age (1903), its specific location within North Point Douglas, and the likely need for updates or repairs compared to newer builds.
2. What does the "above average" living area ranking mean for this street?
On Magnus Avenue, this home's living area ranks in the top 21%, meaning it is larger than approximately 79% of comparable homes on the same street. This is a key advantage, offering more interior space than is typical for the immediate area.
3. How significant is the age of this home (built 1903)?
It is a defining characteristic. The home is 123 years old, ranking it among the oldest 8% on its street. This suggests potential for classic architectural details but also implies that major systems (like plumbing, electrical, and structure) may need careful inspection and could require modernization.
4. Can I get the exact historical sale price?
The site provides sold price ranges for non-registered users. To obtain the exact sale price from the April 2022 transaction, you must request a manual lookup via email, as this data is not sourced from the MLS.
5. What is the context of the sold price range from 2022?
The previous sale in the $100k-$150k range placed it well below area averages at that time. This history is consistent with the current below-average assessed value and reinforces the property's position as a lower-cost option in the Winnipeg market.