747 Magnus Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a 1,382-square-foot home built in 1947, sitting on a 2,463-square-foot lot in the William Whyte neighbourhood of Winnipeg. Its main appeal is in the living space: the home is significantly larger than most other houses on Magnus Avenue (Top 12%) and well above the neighbourhood average. The assessed value of $204,000 reflects that extra size, but it remains relatively affordable compared to citywide medians. The lot, however, is notably small—ranking in the bottom third locally and bottom 5% citywide—so outdoor space is limited.
The property suits buyers who prioritize interior square footage over yard size and who are comfortable with an older home that has likely seen updates but may still need ongoing maintenance. It could work well for someone looking for a starter home with generous room sizes, or for an investor targeting a lower-entry price point in a neighbourhood where values remain below city averages. The home’s value is above the immediate area but still well below Winnipeg’s overall assessed median, suggesting potential for gradual appreciation if the neighbourhood continues to improve. Buyers should be aware that the small lot and older construction year (1947) may limit resale appeal to those seeking a modern floor plan or a large yard.
Frequently Asked Questions
1. How does this home’s assessed value compare to others nearby?
It’s around average on Magnus Avenue (Top 31%) but well above the William Whyte neighbourhood average of $149,100 (Top 16%). Citywide, it’s below the $390,100 average, ranking in the bottom 10%.
2. Is the living area unusually large for a home in this price range?
Yes. At 1,382 square feet, it’s about 350 square feet larger than the typical home on this street and roughly 225 square feet larger than the neighbourhood average. That extra space is the property’s standout feature.
3. Why is the lot size ranked so low?
The lot is 2,463 square feet, compared to a street average of 3,518 sq ft and a citywide average of 6,570 sq ft. This puts it in the bottom 3% citywide, meaning yard space is minimal and likely not suitable for gardening, large pets, or outdoor entertaining.
4. What does the 1947 construction year mean in practical terms?
Homes of this vintage often have solid framing but may need updated electrical, plumbing, insulation, or roofing. While the assessed value doesn’t directly reveal renovation history, buyers should budget for potential upgrades. The year built is newer than the neighbourhood average (1927) but older than the citywide median (1966).
5. How do the rankings work, and what do they actually tell me?
Each ranking compares this property to comparable homes on the same street, within the neighbourhood (William Whyte), and across Winnipeg. A higher ranking (lower percentage) means the home outperforms more peers in that category. For example, the living area ranks in the Top 12% on the street—meaning only about one in eight nearby homes has more interior space. Rankings are relative, not absolute: a “Below Average” rank citywide may still be perfectly fine for someone focused on affordability.