387 Magnus Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1944-built single-family home with 924 sq ft of living space on a 2,769 sq ft lot, located on Magnus Avenue in Winnipeg’s William Whyte neighbourhood. Its assessed value is $146,000.
The property’s appeal lies in its position relative to local and city-wide benchmarks. Within the immediate neighbourhood, the home is fairly typical—living area and land size sit close to the street and community averages. The assessed value is slightly below the neighbourhood average but well below the city average, which translates to proportionally lower property taxes. The build year (1944) is newer than most homes in the surrounding area, where the average is 1927, meaning it may have more modern bones than its immediate neighbours.
This home would suit a buyer who wants to stay within a modest budget, particularly someone prioritizing lower carrying costs over square footage or a large lot. It’s a practical fit for a first-time buyer, a small family, or an investor looking for a property in a neighbourhood where the tax burden is light. The numbers suggest this is not a standout in terms of size or land, but it offers a solid middle-ground entry point without the premium attached to larger or newer homes elsewhere in the city.
Five Possible FAQs
1. How does the property tax here compare to other homes in Winnipeg?
The assessed value of $146,000 is in the bottom 3% city-wide, well under the Winnipeg average of $390,000. That puts this home in a lower tax bracket, meaning annual property taxes should be noticeably lower than what you’d pay in most parts of the city.
2. Is the living space small compared to other homes in the area?
It’s slightly under the street average of 1,017 sq ft and the neighbourhood average of 1,158 sq ft, but not dramatically so. It ranks in the middle of both groups. For someone used to newer builds or suburban standards, it will feel compact, but it’s fairly typical for this part of Winnipeg.
3. What’s the lot like—is there room for expansion or outdoor use?
The lot is 2,769 sq ft, which is smaller than the street and neighbourhood averages. It’s on the tighter side, particularly if you’re comparing to city-wide norms where the average lot is over 6,500 sq ft. It would work for basic outdoor space or a small garden, but don’t expect a large yard or much room for additions.
4. How old is the house, and has it likely been updated?
Built in 1944, it’s newer than most homes on the street (average 1937) and considerably newer than the neighbourhood average (1927). That said, it’s still an older home by city standards—roughly 80 years old. Buyers should expect some updates may be needed unless recent renovations have been done; the age alone doesn’t guarantee condition.
5. Would this property hold its value or appreciate well?
The home is priced near the bottom of the city’s assessment range, which can offer some downside protection—there’s less room for a sharp drop. Appreciation will likely track with the William Whyte neighbourhood as a whole rather than outperforming. Buyers looking for quick gains may want to look elsewhere, but for steady, low-cost ownership, it’s a reasonable bet.