Property Overview

1583 Magnus Avenue is a well-maintained, one-storey home built in 1948, situated on a notably spacious lot in Winnipeg's Burrows-Keewatin neighbourhood. Its key appeal lies in the combination of a renovated basement and a generous, above-average land area of 4,771 sqft, which is a standout feature for the street. While the living space is a practical 982 sqft, the property's value is anchored in its land and its positive standing relative to immediate neighbours. It presents a solid, no-frills opportunity, particularly suited to first-time buyers, investors, or handy homeowners who prioritize lot size over a large interior footprint and see potential in the existing renovations and outdoor space.

Key Characteristics & Appeal

• The Land & Value: The property's most significant asset is its lot size, which ranks in the top 9% on Magnus Avenue. This offers rare potential for gardening, expansion, or simply more private outdoor space than is typical for the area. Paired with a recently renovated basement, it offers a move-in-ready base with a valuable underlying asset.
• Neighbourhood Standing: The home consistently performs well in hyper-local comparisons. It is above average for its street in year built, assessed value, and land area, suggesting it is a well-regarded property on a stable block. This can offer reassurance about maintaining value.
• Ideal Buyer Profile: This home is an excellent fit for pragmatic buyers. It suits a first-time purchaser looking for a manageable home with a great yard, an investor seeking a property with strong fundamentals and rental potential (especially with a finished basement), or a downsizer wanting single-level living without sacrificing outdoor privacy. It's less suited for those seeking a large, modern interior or brand-new construction.

Frequently Asked Questions

1. Is the renovated basement a legal suite?
The listing notes a renovated basement but does not specify it as a legal secondary suite. Buyers should verify its compliance with local zoning and building codes with the city if considering rental income.

2. How does the assessed value relate to the likely sale price?
The assessed value is $23.6k, but it last sold for $25.3k in 2021. In Winnipeg, assessed value for taxation purposes is typically much lower than market value. The sale price from 2021 and current market conditions are more relevant indicators of today's value.

3. What does the "above average" ranking for Year Built mean?
Built in 1948, this home is newer than most on its street (top 26%), where the average build year is 1937. This suggests it may have had fewer generations of wear or updates compared to some neighbours, a subtle advantage in an older area.

4. What are the implications of a detached garage?
A detached garage provides flexible storage or workshop space separate from the house. It may require walking outdoors to access, which is a consideration in winter, but it also eliminates interior noise or fumes from the living area.

5. The living area is noted as "below average" citywide. Should I be concerned?
This is a matter of perspective. While the 982 sqft interior is smaller than the Winnipeg average, it is actually above average for the Burrows-Keewatin neighbourhood. This highlights the property's efficient use of space within its community context and reflects its appeal as a more affordable, lower-maintenance option.