Property Overview: 1037 Magnus Avenue

This one-and-a-half storey home on a standard city lot presents a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Built in 1912, its key appeal lies in its position as a land-value proposition with a functional living space. The home features an unrenovated basement and a detached garage. The data suggests it is a very typical property for its immediate street and area, with living space and lot size that are average for the local context but sit below Winnipeg-wide averages. Its significantly lower assessed value compared to the city median highlights its positioning in the affordable segment of the market.

This property would suit a practical buyer looking for an entry point into homeownership, an investor seeking a rental property with a manageable price basis, or someone with the skills and vision to gradually update a solid, century-old structure. It’s less about immediate modern comforts and more about fundamental value and potential.

Frequently Asked Questions

1. What does "around average for the street/area" really mean for a buyer?
It means the home's core metrics (lot size, living space, value) are very typical of its immediate surroundings. You're not overpaying for an outlier lot, nor are you getting a unusually large property for the price. It indicates a stable, established neighbourhood character.

2. The home is over 110 years old. What should I prioritize in an inspection?
Beyond standard systems, special attention should be paid to the foundation and structural timber of a home from this era, the state of the original wiring and plumbing, and the roof. The unrenovated basement should be closely examined for moisture management and foundational integrity.

3. How significant is the detached garage?
In a practical sense, it provides essential storage or parking separate from the house. For a home of this vintage, it also means any future renovation or expansion to the main structure is not complicated by an attached garage, offering more flexibility.

4. The assessed value is notably low compared to the city average. Is this a concern?
Not inherently. It primarily reflects the home's modest size, age, and the overall lower property values in this area compared to newer or more affluent city neighbourhoods. It typically translates to lower property taxes, which is a point of appeal for budget-conscious owners.

5. What is the potential here for the future?
The potential is grounded in the value of the land and the solidity of the structure. Future upside may come from thoughtful renovations that modernize the living space while preserving character, or from the long-term stability of the neighbourhood. It’s a property where sweat equity could be meaningfully rewarded over time.