332 Magnus Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 2,142 sqft home built in 1960, on a 3,561 sqft lot in Winnipeg’s William Whyte neighbourhood. Its standout feature is size. The living area ranks in the top 1% on Magnus Avenue and top 3% across the neighbourhood. That means it’s roughly double the average home on the street. The assessed value of $263,000 is well above the local averages—top 11% on the street and top 5% in the area—but sits below the citywide median, reflecting that this is a strong property within a more modest-priced pocket of the city. The land area is average for the street but above average for the neighbourhood; citywide it’s on the smaller side.
The appeal here is straightforward: you get a lot of house for your money. The combination of a large living area and a relatively low assessed value (by city standards) suggests this property may be undervalued compared to similar-sized homes elsewhere in Winnipeg. It would suit buyers who prioritize interior space over lot size, and who are comfortable in an older, established neighbourhood where homes vary widely in age and condition. It could also appeal to investors or flippers looking for a property with strong underlying metrics in an area that hasn’t yet seen major price inflation.
Five Possible FAQs
1. How does the assessed value compare to similar homes in the area?
The assessed value of $263,000 is well above both the street average ($178k) and the neighbourhood average ($149k), placing it in the top 5% locally. But it’s significantly lower than the citywide average of $390k, meaning you’re paying below the city norm for a home of this size.
2. Is the house actually from 1960, or just the land?
The year built is listed as 1960, which is newer than most homes on the street (average 1937) and in the neighbourhood (average 1927). It’s roughly average compared to the city as a whole. This is likely the original structure, not a newer build on an old lot.
3. Why is the living area so much larger than other homes on the street?
The street average for living area is 1,017 sqft. At 2,142 sqft, this home is more than double that. This is a genuinely unusual property for the block—likely a one-off design or an addition that significantly expanded a more modest original footprint.
4. What’s the neighbourhood like in terms of resale potential?
William Whyte is an older, inner-city area with a mix of well-maintained homes and others that need work. The low citywide ranking for assessed value (bottom 20%) suggests prices are still comparatively low. Large homes that stand out from the local stock can be harder to sell quickly, but they often attract buyers looking for space they can’t afford in pricier areas.
5. Does the small lot size matter for a house this big?
The land area of 3,561 sqft is around average for the street but below the city median. If you want a big backyard or room for an addition, this isn’t it. But the house already occupies much of the lot, so a yard isn’t really the selling point—the interior square footage is.