340 Magnus Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1,507-square-foot home built in 1907, sitting on a 3,561-square-foot lot on Magnus Avenue in Winnipeg’s William Whyte neighbourhood. The key selling point is its above-average living space for the area—it ranks in the top 7% on the street and top 16% in the neighbourhood, meaning it’s noticeably roomier than most homes nearby. The lot size is also above average for the neighbourhood (top 18%), though small by citywide standards.

At an assessed value of $127,000, it’s below the street and city averages but roughly in line with the neighbourhood. That gap between size and price is where the appeal lies: you get more indoor space than most houses in the area for what appears to be a below-market valuation. The home is old—over a century—so the structure and mechanicals will demand attention, but the combination of generous square footage and relatively low assessed value could work for a buyer who values space over a move-in-ready finish.

This property would suit:

• Someone looking for a larger-than-average home in a central Winnipeg neighbourhood, willing to take on a project or older home maintenance.
• Buyers priced out of higher-ranked areas who still want above-average room sizes.
• Investors or handypeople who see value in a property with good bones and a low assessed value relative to its living area.

Five Possible FAQs

1. Why is the assessed value so low compared to the living area?
The assessed value ($127,000) likely reflects the home’s age (1907), condition, and the overall market for the William Whyte neighbourhood. Even though the interior is spacious, the property ranks low citywide for value. The gap suggests there may be deferred maintenance, or simply that the area doesn't command high prices. It’s worth getting a building inspection to see if the low value is tied to structural or system issues.

2. How does the lot size compare to other homes in Winnipeg?
At 3,561 sqft, the lot is above average for the neighbourhood (top 18%) but well below the citywide average of 6,570 sqft. That’s typical for older, central neighbourhoods where lots were subdivided long ago. If you’re hoping for a large yard or future expansion, this is not oversized, but it’s more space than many nearby homes offer.

3. What should I expect from a home built in 1907?
Expect old-house quirks: potential knob-and-tube wiring, lead paint, plaster walls, and an older foundation. The ranking data suggests the home is older than 96% of properties citywide, so while it’s not unique for the area (many homes on Magnus Avenue and in William Whyte date from the early 1900s), you should budget for ongoing maintenance and upgrades. A pre-purchase inspection focused on the roof, electrical, plumbing, and foundation is strongly recommended.

4. Is the neighbourhood improving, or are values stagnant?
The data doesn’t show trends directly, but the assessed value being below the street and city averages while the living area ranks high suggests the market hasn’t fully priced in the square footage. That could mean opportunity—or it could mean the neighbourhood hasn’t appreciated as much as others. Look at recent sale prices of similar homes in William Whyte and check for any development plans nearby.

5. How is the property ranked overall, and what do the rankings actually mean?
The rankings compare this home to all properties within the same category (both residential). A higher percentage means you outperform more homes. For example, being in the top 7% on Magnus Avenue for living area means only 7% of homes on the street are larger. But being in the top 98% citywide for assessed value means only 2% of homes are valued lower—so the rank is “bad” from a value perspective, but “good” if you want a low assessment for tax or purchase reasons. Always read whether “top” refers to being among the highest or lowest.