483 Magnus Avenue – Property Summary

1. Key Characteristics & Buyer Profile

This is a 1910-built home with 1,456 square feet of living space on a 4,876-square-foot lot. The living area ranks in the top 9% on its street and top 19% in the William Whyte neighbourhood, making it noticeably roomier than many nearby homes. The land is the standout feature: it ranks in the top 3% for the area, offering a generous yard that is uncommon in this part of the city.

The assessed value sits at $154,000, which is actually slightly below the street average but roughly in line with the neighbourhood median. City-wide, the value is well below average (top 97%), reflecting both the older character of the home and the more affordable end of Winnipeg’s market.

Appeal lies in space and proportion. Most homes on Magnus Avenue and in William Whyte are under 1,200 square feet and sit on smaller lots. This property gives you more interior room and significantly more outdoor space without the premium you’d pay in a newer or more central neighbourhood. It’s a solid, unflashy home with bones from an era when rooms were laid out differently—likely more compartmentalized than modern open plans, which some buyers appreciate for privacy or traditional character.

Ideal buyer: Someone who values square footage and outdoor space over a turnkey renovation or a trendy location. First-time buyers looking for room to grow, or those who want a project property with good bones, would find this particularly attractive. It also suits buyers who want a larger lot in an older, established neighbourhood without stretching into higher price brackets. Less obviously, it might appeal to someone who gardens extensively or needs workshop/storage space, given the land.

2. Five Possible FAQs

1. How does the age of this home compare to others in the area?

The house was built in 1910, which is older than the average home on Magnus Avenue (built around 1937) and older than most homes city-wide (average 1966). However, within the neighbourhood, the median vintage is 1927, so it’s not unusual for the area. Many surrounding homes are of a similar era, so the local infrastructure and lot patterns reflect early-20th-century planning.

2. Is the assessed value low because the house is in poor condition?

Not necessarily. Assessed value reflects market conditions, location, and comparable sales, not just condition. This property’s value ($154K) is around the neighbourhood average ($149K) but far below the citywide average ($390K). That gap is typical for older, inner-ring neighbourhoods in Winnipeg. Condition could be a factor, but the low value is mainly driven by the area’s overall affordability and the home’s age relative to newer suburbs. A home inspection would clarify condition.

3. Why is the land area in the top 3% for the neighbourhood but only average city-wide?

The William Whyte neighbourhood was subdivided with relatively small lots—most are around 3,200 square feet. A 4,876-square-foot lot stands out locally because it’s about 50% larger than the norm. City-wide, Winnipeg has many newer suburban lots that are 6,000+ square feet, so this land is only mid-range by comparison. The advantage is having a notably large yard in a denser, older part of the city where such space is rare.

4. Does the ranking system mean this is a “good” or “bad” property?

The rankings are comparative snapshots, not quality scores. Higher living area and land area ranks (top 9% and top 3% on the street) are positive for space. The assessed value rank (top 61% on the street) simply means it’s below average in value there, which could indicate a more affordable entry point. The year-built rank (top 70%) reflects an older home. None of these rankings automatically mean good or bad—they help you understand how this property fits into its surroundings.

5. What should I look for when visiting, given the home is from 1910?

Focus on the structural basics: foundation condition, roof age, and evidence of old wiring or plumbing. Older homes often have plaster walls, which can crack with settling. Check for signs of knob-and-tube wiring, which may need upgrading. Also look at window quality—original single-pane windows will leak heat. The large lot might hide drainage issues, so see how water moves away from the house after rain. And remember: tall ceilings and solid woodwork are common in 1910 homes, so look for those as potential assets.