283 Magnus Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1901-built home with 880 sqft of living space on a 2,728 sqft lot, located on Magnus Avenue in Winnipeg’s William Whyte neighbourhood. The property sits below average in size compared to both the neighbourhood (1,158 sqft avg) and the city (1,342 sqft avg), though it’s closer to the average for its own street. Its assessed value of $117,000 is well below the citywide average of $390,000, and is actually lower than most homes on its own street ($178,000 avg) as well as in the broader neighbourhood ($149,000 avg).
The home is older than most—built 36 years before the neighbourhood average and 65 years before the city average—which places it in the bottom 5% of properties on its street by age.
Where the appeal lies:
The property’s main draw is its low entry price relative to citywide benchmarks. For someone looking to buy into an older, established neighbourhood without competing at higher price points, this home offers a foothold in a part of the city where average values are already modest. The land size is also below typical neighbourhood and city averages, meaning the site is compact—this could suit buyers who don’t want a large lot to maintain, or who are interested in a smaller-scale renovation project.
Ideal buyer:
First-time buyers with a limited budget who are comfortable with an older home that may need updates. Also suited to investors looking for a lower-cost entry into a neighbourhood where property values remain below the city median. Not a fit for someone seeking a move-in-ready property with modern finishes, or for buyers who want generous indoor or outdoor space.
Five Frequently Asked Questions
1. How does the property’s size compare to other homes in the area?
At 880 sqft, it’s slightly smaller than the average home on Magnus Avenue (1,017 sqft) and noticeably smaller than the William Whyte neighbourhood average (1,158 sqft). The lot is also below average for both the street and neighbourhood.
2. Why is the assessed value so much lower than the city average?
The assessed value of $117,000 reflects both the home’s smaller size and its age. The citywide average assessment of $390,000 includes many newer and larger properties across higher-value neighbourhoods. Within William Whyte, assessments already tend to be modest—this property is close to that local average.
3. Is the home considered old even for this neighbourhood?
Yes. Built in 1901, it’s older than 94% of properties in William Whyte, where the average build year is 1927. Citywide, it falls in the oldest 1% of homes. Buyers should factor in potential maintenance needs and the likelihood of older systems (plumbing, electrical, foundation).
4. What does the ranking data mean for resale potential?
Because the home ranks in the lower half for size and value within its own street and neighbourhood, resale value will depend more on condition and upgrades than on location advantages. It’s not in a high-growth area by city standards, so appreciation may be slower compared to newer or more central neighbourhoods.
5. Who typically buys homes like this in William Whyte?
The area tends to attract buyers looking for affordability in an older, inner-city context—often first-time homeowners, small-scale investors, or people willing to take on renovation work. The low assessment and compact size make it a lower-risk entry point, but also mean fewer comparable sales at higher price points.