Property Overview & Key Characteristics

This is a compact, one-storey home built in 1947 on a notably spacious lot in Winnipeg's Burrows-Keewatin neighbourhood. Its primary appeal lies in the significant land size—at 4,621 sq ft, the lot is larger than most on its street and in the local area—presenting a substantial opportunity for future expansion, gardening, or outdoor use. The home itself is modest, with 700 sq ft of living space, and comes without a basement, pool, or garage. It last sold in May 2022 for $19,600 and carries a low assessed value.

This property would best suit a specific type of buyer: an investor, builder, or hands-on homeowner looking for a land-value play or a blank-slate project. It's a candidate for a complete rebuild, a major expansion, or as a long-term hold in an area where lot size is a key asset. It is not suited for those seeking a move-in-ready home or significant existing living space.

Frequently Asked Questions

1. Why is the assessed value so much lower than typical Winnipeg homes?
The assessed value primarily reflects the land and the existing, very modest structure. The low value is consistent with the home's small size, age, and lack of modern upgrades or amenities, placing it in the bottom tier of citywide assessments.

2. What are the main considerations for renovating or rebuilding?
Key factors are the home's age (79 years), which may involve updating foundational systems, and its lack of a basement. Any major renovation or rebuild would need to factor in current building codes and the costs of working with an older structure, balanced against the value of the large lot.

3. How does the lot size compare, and why does it matter?
The lot is in the top 12% for size on Magnus Avenue. This is the property's standout feature, offering more outdoor space and potential than neighbouring properties. It provides flexibility for additions, outdoor living areas, or simply more private yard space.

4. What does the sale history indicate?
The recent sale in 2022 for $19,600 suggests the property is transacted based on its underlying land value and development potential, rather than as a conventional home. This pattern is typical for older, smaller homes on sizable lots.

5. Who would be the most likely buyer for this property?
The most likely buyers are investors, developers, or owner-builders. Its profile appeals to those who see value in the land itself and have the resources and vision to either redevelop it or hold it as an asset, rather than buyers looking for a finished home.