Property Overview

This one-and-a-half storey home on Magnus Avenue presents a straightforward opportunity in Winnipeg's Burrows Central neighbourhood. Built in 1924, it sits on a roughly 3,600 sqft lot, which is a typical size for the immediate area but smaller than the city-wide average. The living space is compact at 929 sqft and includes a basement that is present but not renovated, along with a detached garage. Its most defining characteristic is its very low municipal assessed value, which places it among the most affordable properties citywide.

The primary appeal lies in its position as a true entry-point into homeownership or a potential hold for a land-value investment. It suits a buyer with a practical mindset—perhaps a first-time buyer willing to live modestly while building equity, an investor looking for a low-cost rental property, or someone interested in the future redevelopment potential of the lot. Its value is not in its current condition or size, but in its affordability and the possibilities that a low entry cost can provide. A thoughtful perspective is that while the home itself is unassuming, it represents a stable, middle-of-the-road option within its specific community, neither standing out nor lagging far behind its direct neighbours in key metrics like lot size and age.

Frequently Asked Questions

What does "not renovated" for the basement imply?
It typically means the basement is in original or functional condition, but not modernized. Buyers should budget for potential updates to suit their needs and anticipate that it may require attention to insulation, flooring, or moisture control common in homes of this era.

Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the property's modest size, age, and condition relative to the entire Winnipeg market. In its own neighbourhood and street, however, the assessment is around average, indicating it is priced appropriately for the local market context.

Is the detached garage in usable condition?
The listing confirms a detached garage exists, but its specific condition is not detailed. A property of this age and value suggests the garage is likely functional but may require inspection for structural integrity, door operation, and electrical service.

Who would this property not be suitable for?
It would likely not suit buyers seeking a move-in-ready home, those needing significant space, or anyone unwilling to take on potential maintenance or renovation projects that a 100-year-old home may require over time.

How should I interpret the comparative rankings provided?
These rankings show how this property compares to others. Key takeaways are that its lot size and living space are typical for the street and neighbourhood, but well below city averages. This highlights the importance of evaluating it within its local Burrows Central context, rather than against Winnipeg as a whole.