395 Magnus Avenue – Property Summary

Key Characteristics & Buyer Fit

This is a 1,369-square-foot home built in 1909 in the William Whyte neighbourhood, sitting on a 2,728-square-foot lot. What stands out most is the living area: it's well above the street average (1,017 sqft) and the neighbourhood average (1,158 sqft), ranking in the top 13% on Magnus Avenue and top 24% in the area. The assessed value, however, is notably low at $83,000—ranking in the bottom 6% on the street and near the very bottom citywide. That gap between generous interior space and low assessed value creates a unique situation. The lot is smaller than typical for the neighbourhood and city, and the home's age (1909) is older than most on the street and in the city.

The appeal lies in the combination of size and affordability. A buyer gets above-average square footage at an assessed value that suggests lower property taxes relative to larger or newer homes nearby. This could suit someone who prioritizes interior living space over yard size, doesn't need a modern build, and is comfortable in an older home that may need maintenance. It's less suited for buyers seeking a turnkey property, a large lot, or a newer construction. The low citywide ranking for assessed value (bottom 100%) also hints that this may be one of the more affordable options in Winnipeg by that metric—useful for a first-time buyer or someone looking to keep carrying costs low.

Five Possible FAQs

1. Is the assessed value of $83,000 accurate for a home this size?
Yes, it reflects the current municipal assessment. While the living area is above average in the neighbourhood, the low value likely factors in the home's age (1909), smaller lot, and possibly condition or lack of recent upgrades. It's not unusual for older homes in this part of the city to have low assessments relative to their square footage.

2. How does the age of the home affect things like insurance or renovations?
Homes built in 1909 may have older electrical, plumbing, or foundation systems. Insurance can be slightly higher depending on the insurer and any updates. Renovations may need to account for lead paint or knob-and-tube wiring if not already replaced. A home inspection is strongly recommended to understand what's original and what's been updated.

3. The lot is 2,728 sqft—is that enough for a garage or extension?
It's below the street and neighbourhood averages. Whether you can add a garage or an extension depends on zoning setbacks and lot coverage limits in the William Whyte area. Generally, a small detached garage may be possible, but a major addition would be tight. Check with the city's planning department for specific allowances on this property.

4. How does the neighbourhood compare to other Winnipeg areas?
William Whyte is an older, centrally located neighbourhood with a mix of early 1900s housing stock. It's not a high-demand area by price or prestige, but it offers proximity to downtown and the North End. Some blocks have seen reinvestment; others remain more affordable. The low assessed value relative to the city average ($390k) reflects broader neighbourhood dynamics.

5. What's the market like for homes with this kind of size-to-price ratio?
They can attract a specific buyer—someone who values indoor space over a big yard or a modern finish. It's a niche. The home may stay on the market longer than a similarly priced but smaller or newer property, but it could also appeal to investors or handy buyers looking to build equity through gradual upgrades. It's not a typical family home for someone wanting a large lot or a move-in-ready property.