634 Magnus Avenue – Property Summary
Key Characteristics & Buyer Profile
This 1,230 sqft home on a 3,572 sqft lot, built in 1923, sits in Winnipeg’s William Whyte neighbourhood. Its standout feature is the land: the lot ranks in the top 13% within the neighbourhood, meaning you get noticeably more outdoor space than most nearby properties. The living area is above average for the street itself (top 19%), but closer to average for the broader neighbourhood and city—so it’s spacious by local standards, not exceptional city-wide. The assessed value of $171k is above average for the neighbourhood (top 30%), yet well below the citywide average. This reflects the area’s relative affordability rather than any issue with the home itself. The year built (1923) is early even for the neighbourhood, so expect older character details—and possibly older systems.
The appeal here is land and space for the price. A buyer gets a larger-than-usual lot in a modest urban neighbourhood, with a living area that’s solid for the street. It’s not a renovated showpiece or a prime investment flip; it’s a home for someone who values room to garden, park, or build (subject to zoning), and who is comfortable with an older structure in an area that's below the city’s median household value. This would suit a first-time buyer looking for more square footage than a condo offers, a small family wanting a yard, or someone interested in a long-term project. The low citywide assessed value relative to averages might also appeal to investors seeking entry-level rental stock in a lower-cost corridor.
Five Frequently Asked Questions
1. Is the asking price aligned with the assessed value?
The assessed value is $171k, which is typical for the street and above the neighbourhood average. But assessments lag market conditions. Check recent sales on Magnus Avenue and nearby streets to see if homes are trading above or below assessed value. This property’s land is a differentiator—lots this size are rarer in William Whyte, so the price may reflect that premium.
2. How old are the major systems (roof, furnace, electrical)?
The home was built in 1923, but that doesn’t tell you what’s been replaced. Always ask for the age of the roof, furnace, hot water tank, and electrical panel. In this neighbourhood, some homes have been partially updated; others are original. A pre-purchase inspection is strongly recommended, especially given the property’s age.
3. Is the neighbourhood improving or stable?
William Whyte has seen pockets of reinvestment and some challenges. The assessed values in the area are above the neighbourhood average, which suggests relative stability or modest growth compared to peers. But it remains below the citywide median. Look at nearby commercial corridors, school catchment data, and any recent development permits to get a clearer picture of direction.
4. What are the property taxes?
Taxes are typically based on the assessed value. With a $171k assessment, you can expect proportionally lower taxes than the Winnipeg average. But exact figures change annually. Ask your realtor for the current tax bill, and confirm if the property benefits from any phase-in or education tax credits that might affect ongoing costs.
5. Could the land be subdivided or developed?
The lot is 3,572 sqft—larger than most in the area but not oversized by city standards. Zoning in William Whyte is primarily R1 (single-family) or R2 (two-family) depending on the specific block. Check the city’s zoning map and any overlay restrictions. A larger lot might allow for a garage, laneway suite, or future severance, but don’t assume anything without a professional opinion from planning or a land surveyor.