580 Magnus Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1907-built home with 845 square feet of living space, sitting on a 3,570-square-foot lot. Its assessed value is $124,000. Compared to citywide averages, the home is smaller, older, and lower in assessed value than most. But the standout feature is the land: the lot is above average for the William Whyte neighbourhood, ranking in the top 14% locally. The house itself is modest relative to its street and area, but the larger-than-typical lot offers potential—perhaps for expansion, a garage, or simply more outdoor space.
The appeal lies in affordability and land value. The home is priced well below the citywide and even street-level average, making it one of the more accessible entry points in the market. For buyers focused on square footage or modern finishes, this property won’t stand out. But for someone who values a generous lot in an older, established neighbourhood—and is willing to work with a smaller, older house—it could be a solid fit. It would suit first-time buyers on a tight budget, investors looking for a low-cost entry with land upside, or renovators who can see past the dated footprint.
Five Possible FAQs
1. How does the lot size compare to other homes nearby?
The lot is 3,570 sqft, which ranks in the top 14% within the William Whyte neighbourhood. That means most nearby properties have smaller lots. Citywide, the average lot is much larger, but within this area, the land is a clear asset.
2. Why is the assessed value so low compared to the city average?
Assessed value reflects the home’s age, size, and condition relative to the broader market. The citywide average for comparable homes is $390,100, but this property is smaller and older than most. Within its own street and neighbourhood, its assessed value is closer to the local norm.
3. Is the neighbourhood generally older or newer?
The year-built data shows that homes in William Whyte average 1927, so this 1907 home is older than most in the area, but not by a wide margin. The street average is 1937, meaning a few newer homes bring that number up. Overall, the neighbourhood has an established, early-20th-century character.
4. Could I add square footage to the house?
The large lot gives you more flexibility than many nearby properties. But any additions would depend on zoning, setback rules, and the condition of the existing structure. It’s worth checking local bylaws, but the land itself doesn’t limit you as much as a typical city lot would.
5. How does this property rank as a starter home compared to others in Winnipeg?
It’s among the more affordable options in the city, ranking in the bottom 1% by assessed value. The trade-off is size and age. If you prioritize low entry cost and lot space over modern square footage, it’s a strong candidate. If you need more interior space or a newer build, you’ll likely look elsewhere.