Property Overview & Key Characteristics
This two-storey home at 361 Magnus Avenue offers a practical opportunity in Winnipeg's William Whyte neighbourhood. Built in 2006, it is a notably newer construction compared to many heritage homes in the area, which may appeal to those seeking modern building standards without major renovation needs. The 1,080 sqft living space sits on a larger-than-average 2,728 sqft lot, providing valuable outdoor space for a city property.
Its primary appeal lies in its balance of a newer build with a very low municipal assessed value, suggesting potential for entry-level homeownership or investment. The home suits first-time buyers looking for a functional starter home, or investors interested in a relatively modern property that may require less immediate upkeep than its century-old neighbours. It’s worth noting that while the house is newer, the presence of an unrenovated basement indicates a project space for future value addition. The property’s assessed value ranks highly within Winnipeg overall, but is more moderate within its immediate street and neighbourhood, presenting a nuanced value proposition.
Frequently Asked Questions
1. How does the age of this home compare to others nearby?
Built in 2006, this home is significantly newer than most in William Whyte, where many properties date from the early 1900s. This can mean advantages like modern insulation, wiring, and plumbing.
2. What does the "unrenovated basement" imply?
The basement is finished but has not been updated. Buyers should budget for potential cosmetic updates or repairs and consider a thorough inspection to understand its current condition and any needed improvements.
3. Is the lot size a significant feature?
Yes. At 2,728 sqft, the lot is larger than many in the area (ranking in the top 32% on its street). This provides more private outdoor space than is typical, which is a valuable asset.
4. How should I interpret the assessed value rankings?
The home’s assessed value is in the top 10% city-wide for being low, which can mean lower property taxes. However, it ranks lower within its own neighbourhood, suggesting its value is aligned with, not exceptional for, the William Whyte area.
5. Are there comparable homes for reference?
The listing suggests viewing 375 Magnus Avenue (built 2018, higher value) for a newer comparison, and 382 Manitoba Avenue (built 1901, lower value) to contrast with the area’s typical heritage stock, highlighting this property’s middle-ground position.