Here is a clean, standalone property summary for 481 Magnus Avenue.
This is a 1,632 sqft home built in 1905 on a 2,727 sqft lot at 481 Magnus Avenue, in Winnipeg’s William Whyte neighbourhood. Its standout feature is the living space. The home ranks in the top 5% on its street for square footage, top 11% in the neighbourhood, and top 24% citywide. For a home of this age, that amount of interior room is uncommon and likely owes to later additions or a generous original layout.
The appeal here is value-driven, not curb appeal or modernity. The assessed value of $165k is below average for its street and sits in the bottom 5% citywide, meaning the price point is relatively low despite the generous interior. The lot is on the smaller side for the neighbourhood, and the year built (1905) places it among older homes in the area. Buyers would be looking for space over polish—someone willing to take on an older home with character, potentially with renovation needs, in exchange for a low entry price and a large floor plan. It suits first-time buyers looking for square footage they can’t get elsewhere at this price, or investors focused on the low purchase cost relative to usable space.
-
How does the assessed value compare to similar homes in Winnipeg?
The $165k assessment is well below the citywide average for comparable homes ($390k). On its own street, it’s around average. This means the property is priced very competitively for its size, but the low relative value citywide reflects the older age, smaller lot, and neighbourhood market conditions.
-
The lot is 2,727 sqft—is that a problem?
It depends on your plans. The lot is below average for the street (3,518 sqft) and significantly below the citywide average (6,570 sqft) for comparable homes. If you want a large yard or space for additions, this may be limiting. However, for a buyer focused on the interior living area rather than outdoor space, it’s a reasonable trade-off.
-
What does a 1905 build date mean practically?
It means the home is older than 98% of properties citywide. You should expect potential issues with older systems (electrical, plumbing), foundation, and insulation. The advantage is that well-maintained older homes often have solid materials and unique detailing. A thorough home inspection is essential, and renovation costs should be factored in.
-
Is this a good investment?
Potentially, if you’re comfortable with an older property. The low entry cost combined with a large living area offers good upside if you can add value through updates. The neighbourhood ranking (top 11%) is decent, but the street ranking for age and lot size suggests limited resale demand from buyers looking for modern, turnkey homes.
-
How does it compare to other homes on Magnus Avenue?
It’s one of the largest homes on the street (top 5% for living area) but older than most (bottom 17% for year built) and has a smaller-than-average lot. It’s essentially a compromise: you get significantly more indoor space than your neighbours for a similar price, but you trade that against a smaller yard and an older structure.