Here is a clean, concise summary of 745 Magnus Avenue, written for direct use on a property listing page.
Key Characteristics & Buyer Suitability
This 1928 home offers 1,080 square feet of living space on a compact 2,463-square-foot lot. Its strongest asset is its assessed value. At $204,000, it ranks in the top 16% of homes within the William Whyte neighborhood, notably above the local average of $149,100. This suggests the property has held or gained value relative to its immediate surroundings.
The trade-off is the land. The lot is smaller than most on the street and in the neighborhood, ranking in the bottom 20% locally. This is a trade-off worth noting for anyone who prioritizes a large yard or garden space. The living area is average for the street and neighborhood, but slightly below the citywide average for comparable homes.
This property would likely suit a buyer focused on value and location within the neighborhood rather than square footage or land size. It could appeal to an investor or first-time buyer looking for an asset that already shows above-average valuation in its area, and who doesn’t need a large lot. The older construction (1928) may also attract someone looking for character and solid bones, provided they are comfortable with potential maintenance that comes with an older home.
Five Possible FAQs
1. How does this home’s assessed value compare to others nearby?
It ranks in the top 16% of homes in William Whyte and the top 31% on its street. The assessed value of $204,000 is well above the neighborhood average of $149,100, indicating it's a higher-value property within its immediate area.
2. Is the small lot a reason for concern?
It depends on your needs. The lot is 2,463 sqft, which is smaller than most on Magnus Avenue (average 3,518 sqft) and most in the neighborhood (average 3,277 sqft). If you want a large lawn or space for expansion, this may not be ideal. If you prefer a lower-maintenance yard, it could be a plus.
3. What does the “year built” ranking tell me?
Built in 1928, this home is older than most citywide (where the average is 1966), but it’s on par with the average year built in the William Whyte neighborhood (1927). This means you’re buying into an area with a consistent stock of older homes.
4. How does the living area compare to similar homes?
At 1,080 sqft, it’s slightly above the average for its street (1,017 sqft) and about average for the neighborhood (1,158 sqft). It is below the citywide average for comparable homes, which sits at 1,342 sqft.
5. What does “rank” in the data really mean?
The rankings compare this home to other similar properties in the same category. A “top 16%” rank in assessed value means it is valued higher than 84% of comparable homes in that area. A “top 82%” rank in land area means 82% of comparable homes have larger lots. In short, a lower percentage (top 10-20%) is generally stronger for value and newer construction, while a higher percentage (top 80-90%) indicates a smaller or older property relative to peers.