461 Magnus Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1908-built home with 868 square feet of living space on a 2,727-square-foot lot. Its assessed value is $70,000.
What stands out here is the clear gap between the property’s characteristics and its valuation. The living area and land size are both below average for the city and even for the immediate William Whyte neighbourhood—but the assessed value is dramatically lower still. On Magnus Avenue itself, the home ranks near the bottom for value (#596 out of 608), while on the street it’s closer to the middle for living area and lot size. That suggests the value has been discounted more heavily than the physical specs alone would explain.
The appeal lies in affordability and potential. For a buyer comfortable with an older home (pre-1920s construction) and a modest footprint, this represents one of the cheapest entry points in the city. The low assessed value relative to street and neighbourhood averages also hints at possible renovation upside—if the structure is sound, bringing it up to neighbourhood standards could create equity. The lot, while not large, is still workable for a small garden or outdoor space.
This property would suit: First-time buyers priced out of other areas, investors looking for a low-cost rental or flip in a transitioning neighbourhood, or anyone who values walkable older neighbourhoods over newer suburban finishes. It is not for someone seeking a move-in-ready home with modern space standards or a family needing multiple bedrooms on a single level.
Five Possible FAQs
1. How does the 868 sqft living area compare to similar homes nearby?
On Magnus Avenue, it’s around average—ranked in the top 67% of homes. But in the broader William Whyte neighbourhood and across Winnipeg, it falls below average. Typical citywide living area for comparable homes is about 1,342 sqft.
2. Why is the assessed value ($70,000) so much lower than the street average ($178,000)?
It’s one of the lowest-valued properties on the street. While the home’s size and age are both below average, the gap in value is proportionally much larger. This could reflect deferred maintenance, an older interior, or a smaller number of bedrooms and bathrooms—not something the raw data shows, but common drivers of such a steep discount.
3. Is this property suitable for a renovation or investment?
Possibly, but caution is warranted. The low value suggests significant work may be needed. The land area is also smaller than most neighbouring lots (2,727 sqft vs. 3,518 sqft street average), which limits expansion or subdivision potential. A thorough inspection before purchase would be essential.
4. What’s the neighbourhood like?
William Whyte is an older, inner-city area with many pre-war homes. It tends to have lower price points than the city average. Proximity to downtown and major amenities is a plus, but buyers should research block-level conditions—some streets have stronger housing stock than others.
5. How was the ranking data calculated?
The rankings compare this property to other “comparable homes” within three scopes: the street, the neighbourhood, and the city. Larger living area, larger land area, newer year built, and higher assessed value all rank better. The bar fill reflects what percentage of peers you outperform. The “Avg” shown is a rough median for that category in each scope.