376 Magnus Avenue – Property Summary

Key Characteristics & Ideal Buyer Profile

This is a 1913 home with 1,465 square feet of living space and a 3,561-square-foot lot. What stands out immediately is the generous floor plan: it ranks in the top 9% on its street and top 18% in the William Whyte neighbourhood for living area. The lot itself is also above average for the area, landing in the top 18% locally. However, the property’s assessed value tells a different story—it ranks in the bottom 13% on its street and bottom 21% in the neighbourhood, sitting at $99,000 versus a local average of $149,100. This disconnect between physical size and valuation is the property’s defining feature. The appeal lies in the fact that you’re getting a relatively large home and lot for a price that reflects the area’s lower valuation. The year built (1913) is older than most nearby homes, which may mean original character or higher maintenance needs, depending on updates. This property would suit a buyer who values square footage and outdoor space over a move-in-ready, modernized interior—likely someone comfortable with renovation work or willing to live with the quirks of an older home. It’s also a strong fit for investors or flippers who see the gap between size and assessed value as untapped potential. Less obviously, the citywide data shows this home sits in the bottom 20% for lot size citywide, so while the lot is generous for the neighbourhood, it’s not oversized by broader standards—meaning any expansion plans should stay realistic.

Five Possible FAQs

1. Why is the assessed value so low compared to similar homes nearby?
The assessed value likely reflects the home’s condition, renovations (or lack thereof), and overall market trends in William Whyte. Since the living area and lot size are above average locally, the low value suggests the interior may need significant updating or repairs. It’s worth requesting the full assessment report to see what factors were weighed.

2. Is this home suitable for a renovation or a complete gut job?
It depends on the current state, which isn’t included in this data. A home built in 1913 with a below-average assessed value often means systems (electrical, plumbing, roof) may be original or outdated. A structural inspection is essential. The large floor plan and lot make it a strong candidate for a full renovation, but budget accordingly for both work and unexpected surprises.

3. How does the neighbourhood, William Whyte, compare to other areas for resale value?
William Whyte is an older, centrally located neighbourhood with a mix of character homes and lower property values relative to the city average. The assessed values here are below many other areas, but the living area—which ranks well—can be a selling point if marketed to buyers who prioritize space over location prestige. Resale will depend on how the home is improved and whether the area continues to see investment.

4. Could I add a secondary suite or subdivide the lot?
The lot is 3,561 square feet, which is above average for the neighbourhood (top 18%) but below average citywide. Zoning and setback rules in William Whyte would determine feasibility. A lot this size might accommodate a small secondary suite or garage apartment, but likely not a subdivision into two separate lots. Check with the city’s planning department before making any assumptions.

5. Is a 1913 home likely to have issues with insulation, wiring, or foundation?
Yes, it’s common for homes of this era to have knob-and-tube wiring, lead or galvanized plumbing, and limited insulation in walls. Foundations were often fieldstone or brick, which can be prone to moisture or cracking. Ask about any recent upgrades—new windows, roof, or electrical panels are good signs. An older home can be solid if maintained well, but prepare for higher utility bills and ongoing upkeep.