339 Magnus Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 616 sqft home built in 1905, located on Magnus Avenue in Winnipeg’s William Whyte neighbourhood. The lot is 2,278 sqft. Across every measurable category—size, assessed value, age, and land—this property ranks in the bottom percentile compared to its street, neighbourhood, and city. The assessed value is $74,000, well below the street average of $178,000 and the city average of $390,100.

The appeal here is straightforward: it’s a low-cost entry point into a central Winnipeg neighbourhood. For a buyer who prioritizes affordability over space, finishes, or modern construction, this property avoids the price pressures of larger or newer homes. It would suit someone looking for a small-scale renovation project, a budget-conscious first-time buyer, or an investor targeting lower acquisition costs in an area where land values have room to shift. The small footprint and older construction mean ongoing maintenance should be expected, but the potential for sweat equity exists if the structure is sound.

Five Possible FAQs

1. Why is the assessed value so low compared to the street average?
Assessed value reflects the city’s estimate of market value based on comparable sales, size, condition, and location. At 616 sqft and built in 1905, this home is both smaller and older than most properties on Magnus Avenue, where the average home is 1,017 sqft and built around 1937. Condition also plays a role—without recent upgrades, the assessment will stay low.

2. Is a 2,278 sqft lot considered small for Winnipeg?
Yes. The average lot in William Whyte is about 3,277 sqft, and citywide it’s over 6,500 sqft. This lot is roughly 65% of the neighbourhood average. It’s not unusable, but it limits expansion options and outdoor space compared to typical lots in the area.

3. How does this property compare to others on the street in terms of age?
It’s older than most. Magnus Avenue homes average a 1937 build year; this one dates to 1905, putting it in the oldest 17% on the street. At the city level, it’s in the top 98% for age—meaning very few homes in Winnipeg are older.

4. Could the assessed value increase significantly with renovations?
Possibly, but there are limits. Renovations that increase living area or modernize systems can raise assessed value, but the small lot and older structure cap how much the city will revalue. Any increase will also depend on broader market trends in William Whyte, which has below-average values citywide.

5. What type of buyer typically looks at a property like this?
Buyers who are less concerned with square footage or curb appeal and more focused on low initial cost and location. It’s common to see investors targeting rental income with minimal capital outlay, or buyers willing to do significant work themselves. Someone expecting a move-in-ready home with modern amenities would likely look elsewhere.