691 Magnus Avenue – Property Summary
Key Characteristics & Buyer Fit
This is a newer home in an older, established neighbourhood. Built in 2016, it ranks among the newest homes on Magnus Avenue (top 3%) and within the wider William Whyte area (top 4%). The living area is slightly above average for the street at 1,204 square feet, but sits around average for the neighbourhood and city as a whole. Notably, the assessed value is well above the street and neighbourhood averages (top 12% and top 5%, respectively), which suggests the home has been either well-maintained or upgraded relative to its immediate surroundings. The land area is smaller than typical for the area, ranking in the bottom 18% on the street and bottom 9% in the neighbourhood. The citywide assessed value is below average, reflecting that this property offers a more modest price point than many Winnipeg homes overall.
The appeal lies in getting a relatively new build in a central, older neighbourhood without paying a premium for a large lot. Buyers get modern construction (newer systems, insulation, layout) in a street with many older, character homes, which can mean lower immediate maintenance costs. It would suit someone who values a move-in-ready home and a lower-maintenance yard over a large outdoor space, and who is comfortable with the mix of ages and housing styles typical of William Whyte. It may be less ideal for buyers prioritizing a big private lot or seeking a home that strictly follows the larger-lot character of the street.
Five Possible FAQs
1. Is this home in a rising or stable part of the city?
The neighbourhood is older and has seen a mix of infill and older stock. The presence of a newer, high-value home like this one on the street can be a sign of gradual reinvestment, but citywide rankings show the area still has lower average values than much of Winnipeg. Buyers should look at recent sales trends and local development plans for a fuller picture.
2. Why is the assessed value so much higher than the neighbourhood average but lower citywide?
The home is newer and likely has better finishes and systems than many neighbouring properties, pushing its value far above the local median ($149k). However, citywide values include many larger, more expensive homes in other parts of Winnipeg, so this property falls well below the city average ($390k).
3. Is a 2,463 sqft lot typical for a home built in 2016?
Newer infill homes built on narrower lots or smaller infill parcels often have smaller land areas. In this case, the lot is noticeably smaller than the street and neighbourhood averages, which aligns with a newer build on a subdivided or leftover lot. It’s not unusual for this type of property.
4. How does the property taxes compare on a newer home like this?
Because the assessed value ($259k) is higher than the neighbourhood norm, property taxes will be higher than many nearby older homes. That said, the citywide comparison shows the assessed value is still moderate—meaning taxes are unlikely to be extreme, but definitely above the local baseline. Buyers should confirm current mill rates and any tax phase-in effects for new builds.
5. What does “ranked in top 5% for assessed value in the neighbourhood” actually mean for resale?
It means the home is at the upper end of the local market. While this can help with resale value if the area appreciates, it also means the property may take longer to sell in a slow market, as buyers looking at this street may be priced out. The smaller lot and newer construction can be either a positive or a drawback depending on buyer preferences in William Whyte.