341 Magnus Avenue

Key Characteristics & Appeal

This 720 sqft home at 341 Magnus Avenue is a compact, early-20th-century property (built 1913) situated in Winnipeg’s William Whyte neighbourhood. Its standout feature is the assessed value: at $137,000, it sits just below the neighbourhood average of $149,000 and well below the Winnipeg average of $390,000. This makes it one of the more affordable options in a community where land values and property taxes tend to be modest by city standards.

Where the property falls short is size. The living area is smaller than 83% of homes on the same street and 89% of homes in the wider neighbourhood. The land parcel is also notably compact—2,277 sqft—ranking in the bottom 7% on the street and bottom 3% in the area. This is not a property for someone seeking generous indoor or outdoor space.

The appeal lies in its low entry cost relative to the city as a whole, and the possibility of a manageable property tax bill. It would suit a buyer looking for an affordable foothold in a central neighbourhood, someone willing to work with a smaller footprint, or an investor interested in a lower-cost asset in an area where average valuations are climbing. The age of the home (older than the local average but in line with the neighbourhood’s character) suggests it may have original details worth preserving, but also calls for realistic expectations around maintenance.

Five Possible FAQs

1. Why is the assessed value so low compared to the city average?
The $137,000 assessment falls below the William Whyte neighbourhood average ($149,000) and far below Winnipeg’s $390,000 median. This reflects both the home’s smaller size and the area’s generally lower land values. It’s not an anomaly—many homes in the community are assessed well below city norms.

2. How does the living area compare to typical homes nearby?
At 720 sqft, it’s smaller than the street average of 1,017 sqft and the neighbourhood average of 1,158 sqft. Roughly 83% of homes on Magnus Avenue and 89% of homes in William Whyte are larger. Buyers should expect a compact layout, not a spacious one.

3. The home was built in 1913—is that a concern?
The build year is typical for the street and slightly older than the neighbourhood average (1927). Many homes in this area are from the early 1900s. Original construction can mean solid materials, but systems (electrical, plumbing, heating) may be outdated and should be inspected. Older homes in this price range often require ongoing upkeep.

4. Does the small lot limit future possibilities?
The 2,277 sqft lot is smaller than 97% of properties in the neighbourhood and 98% citywide. There’s limited space for additions, major landscaping, or outbuildings. If a large yard or expansion potential is a priority, this property likely won’t suit. For a low-maintenance yard or infill potential with zoning allowances, it could still work—but check local bylaws.

5. What type of buyer would benefit most from this property?
First-time buyers with a tight budget, someone looking for a low-cost entry into a central Winnipeg neighbourhood, or an investor seeking a lower-assessed property (and potentially lower taxes) in an area where valuations are closer to the neighbourhood average. It’s less suited for families needing space or anyone prioritizing land size.