572 Magnus Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1,380-square-foot home built in 1972, sitting on a 3,569-square-foot lot in Winnipeg’s William Whyte neighbourhood. What stands out immediately is the assessed value: $321,000. That places it in the top 4% on Magnus Avenue and the top 2% within the wider neighbourhood—well above the street average of $178,000 and the area average of $149,100. The numbers suggest a property that has been improved, maintained, or positioned differently than its immediate neighbours.
The living area is also generous for the street and neighbourhood. At 1,380 square feet, it ranks in the top 13% on Magnus Avenue (where the average is 1,017 square feet) and top 23% in William Whyte (average 1,158 square feet). Citywide, it sits near the middle of the pack. The land area is slightly above average for the neighbourhood but below the citywide norm, which makes sense given older urban lots tend to be smaller than newer suburban ones.
The home is newer than most nearby properties. Built in 1972, it ranks in the top 13% on the street, where the average home dates to 1937. That means you're getting a structure that is roughly 35 years younger than the typical house on Magnus Avenue—potentially fewer deferred maintenance issues, more modern building practices, and likely updated systems.
Appeal and who it suits: This property likely appeals to buyers who want a solid, above-average home in an older neighbourhood without paying for a full renovation or a new build. The assessed value suggests it's already been brought up to a good standard, and the larger-than-average interior gives breathing room compared to nearby bungalows or wartime houses. It could suit a family looking for more space on a budget, an investor targeting a neighbourhood with upside, or someone who values a newer structure without leaving the central part of the city. The trade-off: the lot is modest by citywide standards, and the surrounding area still has a mix of older, lower-value homes, so street-level comparisons are uneven.
Frequently Asked Questions
1. Why is the assessed value so much higher than the street average?
The home is newer, larger, and likely in better condition than many of its neighbours. Assessed value reflects recent market data and property characteristics—not just location. A 1972 build with 1,380 square feet will naturally be valued higher than a 1930s bungalow at 1,000 square feet, even on the same street.
2. How does this compare to similar homes in other parts of Winnipeg?
Citywide, the assessed value is around average (top 64%), and the living area is also near the median. So while this home stands out in its immediate area, it's not an outlier when compared to the broader market. It's a solid middle-of-the-pack house that happens to be positioned in a lower-value pocket of the city.
3. Is a 1972 home considered old or in need of major updates?
In the context of Magnus Avenue, it's relatively new. Citywide, it's slightly older than average (median build year is 1966). Homes from the 1970s often have original features that still function well, but you'd want to check the age of major systems—roof, furnace, windows, plumbing. It's not a heritage house, but it's not brand new either.
4. The lot is smaller than the city average. Does that limit anything?
It depends on your plans. At 3,569 square feet, the lot is typical for an older urban neighbourhood but well below the citywide average of 6,570 square feet. If you're looking for a large yard, garage space, or room to expand, this might feel tight. For someone prioritizing indoor space and location over outdoor square footage, it's likely fine.
5. What does "ranked top 2% in the neighbourhood" actually mean for resale?
It means this property is a standout relative to nearby homes. That can work in your favour when selling—buyers may see it as a premium option in an area where comparable listings are older or smaller. However, resale value also depends on the direction of the neighbourhood. A top-tier home in a stable or improving area tends to hold value well; in a stagnant one, it may take longer to find the right buyer.