371 Magnus Avenue

Property Summary: 371 Magnus Avenue

Key Characteristics & Buyer Profile

This is a detached home built in 1905 in the William Whyte neighbourhood of Winnipeg. The living area is 954 square feet, which sits right around the average for the street but falls below the citywide average. The lot measures 2,728 square feet—smaller than typical for the neighbourhood and significantly smaller than the city average. The assessed value is $90,000, noticeably below both the street average of $178,000 and the neighbourhood average of $149,100.

The property’s main appeal is its low entry price. In a market where citywide comparable homes average $390,000, this is an outlier at the very bottom of the valuation spectrum. The living space is reasonable for its size, and the street-level ranking shows it’s not unusually small compared to immediate neighbours.

This would suit a buyer who is comfortable with an older home in a more established, less central part of the city. It may appeal to someone looking for a project or a budget-friendly entry into homeownership, where the priority is affordability over square footage or a premium lot. It is less suited for buyers seeking move-in-ready space, a large yard, or strong resale position relative to city averages.

Frequently Asked Questions

1. How does the assessed value compare to the neighbourhood?
The assessed value of $90,000 is well below the William Whyte neighbourhood average of $149,100 and the street average of $178,000. It ranks in the bottom 8% on the street and the bottom 14% in the neighbourhood, indicating it is one of the more affordable properties in the area.

2. What is the lot size, and is it typical for the area?
The lot is 2,728 square feet. While it ranks close to average on the street, it is below average for the neighbourhood (where the average is about 3,277 sqft) and considerably smaller than the citywide average of 6,570 sqft for comparable homes.

3. How old is the house, and does that affect its condition?
The home was built in 1905. It is older than most homes on the street (average year built is 1937) and in the neighbourhood (average 1927). Age alone doesn't indicate condition, but it suggests the property may have older systems, foundations, or materials—something worth factoring into inspections and renovation planning.

4. Is the living space considered small for the area?
At 954 square feet, the living area is around average for the street but below average for the neighbourhood (1,158 sqft) and well below the citywide average (1,342 sqft). It is a compact home that would suit a small household or someone prioritizing low upkeep over generous room sizes.

5. How does this property rank citywide?
Citywide, the property ranks in the bottom 22% for living area, the bottom 8% for assessed value, and the bottom 2% for year built. It is among the older and more affordable homes in Winnipeg relative to comparable properties.