Key Characteristics & Buyer Profile

This is a 1905-built home with 1,020 sq. ft. of living space on a 2,727 sq. ft. lot, located on Magnus Avenue in the William Whyte neighbourhood of Winnipeg. Its most notable feature is the extremely low assessed value for tax purposes—$73,000—which places it in the bottom 2% on its street and bottom 1% citywide. The living space is close to the street average but slightly below the neighbourhood and city medians. The lot is modest, and the house is older than most in every comparison bracket.

The appeal here is straightforward: low holding costs. Property taxes based on a $73,000 assessment will be significantly less than those for a typical Winnipeg home, which averages a $390,000 assessment. For a buyer who is handy or willing to invest in renovations, this could mean acquiring a property with a very low monthly tax burden in an area where neighbouring homes have higher assessed values. It suits a buyer focused on cash flow, long-term sweat equity, or someone looking to enter the market with a lower fixed overhead—not someone seeking a move-in-ready, modern home in a high-demand area. The trade-off is clear: lower taxes come with an older structure and a lot that is undersized compared to city norms.

Five Possible FAQs

1. How much would I actually pay in property taxes?
Property taxes are based on the assessed value of $73,000. You would need to confirm the current mill rate with the City of Winnipeg, but this assessment puts the tax bill well below the city average. Expect a figure proportionate to a home valued in that range, not what a typical William Whyte or Winnipeg home pays.

2. Is an 1905 house a risky purchase?
It depends on maintenance history. A house of this age will likely have original systems or older replacements. A thorough home inspection—especially for knob-and-tube wiring, foundation condition, and lead paint—is essential. The age itself isn’t a dealbreaker, but it does mean you should budget for unplanned repairs.

3. Why is the assessed value so much lower than the neighbourhood average?
The data shows the street average assessment is $178,000 and the neighbourhood average is $149,000, while this property is at $73,000. This could reflect deferred maintenance, a smaller structure, or a previous assessment that hasn’t caught up to recent sales. It’s worth researching recent sale prices on the street to understand if the assessment is accurate or outdated.

4. The land is smaller than average. Does that matter?
If you plan to expand the house or build a garage, the 2,727 sq. ft. lot is restrictive. Citywide, the average lot is 6,570 sq. ft. The lot is near the median for the street but below average for the neighbourhood. For a standard single-family home with a yard, it’s workable. For anything beyond that, check zoning setbacks first.

5. How does this compare to other homes on Magnus Avenue for resale?
Most homes on the street have a higher assessed value and were built more recently (average is 1937). Your resale buyers would likely be people specifically looking for a low-tax entry point or a renovation project. The house won’t compete with updated properties on the same street, but it could be attractive to investors or first-time buyers priced out of higher-assessment homes.