Property Summary: 244 Magnus Avenue
Key Characteristics & Appeal
This is a large, older home on Magnus Avenue, built in 1906. Its standout feature is its living space. At 1,476 square feet, it is significantly larger than the average home on its street (roughly 1,017 sqft) and in the William Whyte neighbourhood (roughly 1,158 sqft). This places it in the top 8% of the street and top 18% of the area for size. The property sits on a 3,551 sqft lot, which is typical for the street but above average for the immediate neighbourhood, offering decent outdoor space without the maintenance of a larger yard.
The property’s appeal lies in getting a spacious home in an older, established neighbourhood without the premium price tag of similar-sized homes in other parts of the city. The assessed value is low — among the bottom 4% city-wide — meaning property taxes are likely quite manageable. The age of the home (1906) is its biggest trade-off. It’s older than most houses on the street and far older than the Winnipeg average. This makes it better suited for buyers who value character, space, and a modest tax bill over a modern, move-in-ready structure. It’s a good fit for someone handy, a buyer looking for a project with solid bones, or anyone who prioritises square footage and low holding costs over a turnkey finish.
Five Possible FAQs
1. How do the property taxes compare to other homes in the area?
The home’s assessed value is $156,000, which is close to the neighbourhood average of $149,000 but very low compared to the citywide average of $390,000. This suggests property taxes should be well below what you’d pay for a similarly sized home in a more expensive part of Winnipeg.
2. Is this considered a fixer-upper?
Not necessarily, but it’s a good candidate for renovation. The home was built in 1906, so systems (plumbing, electrical, roof, foundation) need a careful inspection. Its low assessed value partly reflects its age and likely outdated interior. It’s best for someone who expects to put in some work over time.
3. How does the lot size affect usability?
The 3,551 sqft lot is fairly standard for the street and slightly bigger than the average in William Whyte. It’s manageable without being tiny. You won’t get a sprawling yard, but there’s room for a garden, a small garage, or a patio. Compared to the city average of 6,570 sqft, it’s definitely on the compact side.
4. Why is the assessed value so low compared to other Winnipeg homes?
The value is based on factors like location, age, and condition relative to the rest of the city. While the living area is large, the home is in an older, less centrally-valued neighbourhood and is nearly 120 years old. The low value keeps taxes down, but it may also reflect limited recent upgrades or a more modest interior finish.
5. What are the main trade-offs of buying a home this old?
You gain character, generous room sizes, and lower taxes. You risk dealing with outdated wiring, lead pipes, settling, and insulation issues. This home is a better fit for someone who sees maintenance as a long-term investment rather than a dealbreaker, and who isn’t expecting a perfectly modernized space at this price point.