367 Magnus Avenue – Property Summary

Key Characteristics & Buyer Suitability

This is a 1905-built home with 840 square feet of living space on a 2,728-square-foot lot. Across every metric—size, age, lot, and assessed value—the property sits below average relative to its street (Magnus Avenue), its neighbourhood (William Whyte), and Winnipeg as a whole.

The home’s appeal lies in its affordability, not its size or condition relative to neighbours. The assessed value of $94,000 is well below the street average of $178,000 and far below the city average of $390,000. For a buyer looking to enter the market with a lower price point, or someone interested in a fixer-upper in an older, established neighbourhood, this property offers a clear starting point. It is not a move-in-ready, turnkey home by any standard—it’s a practical option for those willing to invest time or labour.

This property would suit first-time buyers with limited budgets, investors looking for a lower-cost entry in an older Winnipeg neighbourhood, or anyone who values location or character (1905 construction) over square footage or modern finishes. It would likely not appeal to buyers seeking a home that compares favourably to its street or community averages.

Five Frequently Asked Questions

1. How does the property’s size compare to typical homes nearby?
The home is smaller than average at 840 sq ft, compared to roughly 1,017 sq ft on the same street and 1,158 sq ft in the William Whyte neighbourhood. It ranks in the 69th percentile on its street—meaning about 69% of homes are smaller—and 78th percentile citywide.

2. Why is the assessed value so much lower than the neighbourhood average?
The assessed value of $94,000 is significantly below the neighbourhood average of $149,000 and the street average of $178,000. This likely reflects the home’s smaller size, older construction (1905), and possibly less updated condition or lower lot value relative to others in the area.

3. Is the lot size a concern?
At 2,728 sq ft, the lot is slightly smaller than the street average of 3,518 sq ft and well below the city average of 6,570 sq ft. It’s not unusually small for the neighbourhood, but buyers expecting a large yard or expansion space should consider this limitation.

4. What should I know about a home built in 1905?
This is an older home, ranking in the bottom 2% citywide by construction year. Buyers should expect potential issues with aging infrastructure—plumbing, electrical, insulation, foundation—and should budget for inspections and possible upgrades. On the positive side, older homes often have good bones and character.

5. Is this a good investment?
That depends on goals. The low purchase price and below-average assessment suggest potential for equity growth through renovations or neighbourhood appreciation. However, the home sits in a lower-ranked area (William Whyte), so resale value may not rise quickly without broader market or neighbourhood changes. It’s a speculative play, not a guaranteed return.