Property Overview: 1074 Magnus Avenue

Section 1: Key Characteristics & Appeal

This one-and-a-half storey home, built in 1914, presents a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. With 1,000 sqft of living space and a full, unrenovated basement, it is a home that prioritizes function and potential over immediate move-in finish. Its key appeal lies in its position as an affordable entry point into the market, with a very low assessed value that reflects its need for updates.

The property sits on a 2,833 sqft lot, which is a manageable size for a first-time homeowner and is quite typical for the immediate street and area. The data suggests it is a statistically average home for Magnus Avenue and Burrows Central in terms of lot size, age, and living area, meaning it fits comfortably within the existing fabric of the community without standing out as unusually large or small.

This home would best suit a value-conscious buyer looking for a project. This could be a first-time purchaser comfortable with gradual, DIY improvements, or an investor seeking a rental property with a low entry cost. Its unrenovated state is a canvas, allowing the next owner to add value according to their own budget and vision. A less obvious perspective is that its very "averageness" for the street is a stability factor; it's less likely to be over-improved for the area, allowing for sensible upgrades that align with neighbourhood norms.

Section 2: Frequently Asked Questions

Q: What does "unrenovated basement" typically imply?
A: It generally means the basement space is functional but in its original or aged state. Expect older finishes, likely concrete floors and basic walls, and mechanical systems (like the furnace or wiring) that may be older but functional. It offers potential but will require inspection and likely updates for modern living standards.

Q: How does the low assessed value impact property taxes?
A: A lower assessed value typically results in lower municipal property taxes compared to a renovated or newer home of the same size. This can improve monthly affordability, freeing up cash for renovations or other expenses.

Q: The home sold in 2021 for $17,500. Is that the expected price today?
A: Not necessarily. The 2021 sale price is a historical data point. Current market conditions, interest rates, and the property's present state will determine its listing and sale price today. It does, however, indicate a history of being a very low-value transaction.

Q: With no garage, what are the parking options?
A: The property likely relies on on-street parking, which is common for homes of this era in this area. Buyers should verify local parking regulations and observe typical availability on the street during visits.

Q: The home is over 100 years old. What should I be most concerned about?
A: While charm and solid construction are hallmarks of older homes, key concerns include the condition of the foundation, roof, plumbing, and electrical systems. A thorough home inspection is essential to identify any major issues like knob-and-tube wiring, old galvanized pipes, or structural wear that are common in century-old properties.