591 Magnus Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1954 home with 800 square feet of living space on a 2,727-square-foot lot. The property stands out most for its assessed value. At $195,000, it is priced above the neighborhood average of $149,100, placing it in the top 19% locally. This suggests a home that has been maintained or improved relative to its immediate surroundings. On its street, the value is around average, which means it fits in with its direct neighbours.

The appeal here is value within a specific context. You are getting a home that is more expensive than most in the area, but still well below the citywide average of $390,100. The lot is smaller than the street and neighborhood averages, and the living area is below average at all three levels. The house itself is older than many nearby, which could appeal to someone who appreciates established construction or is looking for a project with bones from that era.

This property would suit a buyer who is focused on the William Whyte neighborhood specifically and wants a home that is already above the local standard for assessed value. It is less suited for someone looking for maximum square footage or a large lot. A buyer here is likely trading space for a better-condition or well-updated property in a more affordable part of the city. It may also work for an investor who sees the assessed value as a floor and the below-average living area as an opportunity to add square footage through a renovation, provided zoning allows.

Frequently Asked Questions

1. The assessed value is above the neighborhood average, but the living area is below. Does that mean the house is overpriced?
Not necessarily. Assessed value reflects the market's estimate of what the property is worth, not just its size. A higher value with less square footage usually means the home has better finishes, recent upgrades, a preferred layout, or a stronger overall condition compared to others in the area. It is common for smaller homes in good shape to appraise higher than larger ones that need work.

2. How does the lot size compare to other homes in William Whyte?
The lot is 2,727 sqft, which is below the neighborhood average of 3,277 sqft and well below the citywide average for comparable homes. On its own street, it is around average. If a large yard is a priority, this property may feel tight. However, a smaller lot often means less upkeep and may suit someone who prefers a more compact outdoor space.

3. The house was built in 1954. What should I watch for with a home of this age?
Homes from that era are often solidly built but may have older electrical systems, plumbing, or insulation. The fact that the assessed value is above the neighborhood average suggests some updates have been done, but you should verify the condition of the roof, foundation, windows, and mechanicals. The age also puts it in an "above average" range locally, meaning it is newer than many of its immediate neighbours—some of which date to the 1930s.

4. What is the neighborhood of William Whyte like for a buyer?
William Whyte is a central Winnipeg neighborhood with a mix of older single-family homes and some rental properties. It is more affordable than many other parts of the city. The property’s assessed value being in the top 19% locally means it sits in a slightly higher-value tier within that area. This can be a good sign for stability, but you should still visit the street yourself at different times of day and check walkability to amenities like schools, transit, and grocery stores.

5. Why is the living area ranked so low citywide if the house is 800 sqft?
Citywide, the average living area for comparable homes is 1,342 sqft, and this property is ranked in the top 91%—meaning it is smaller than 91% of similar homes in Winnipeg. 800 sqft is a compact home by modern standards, but it can be perfectly livable for a single person, a couple, or someone downsizing. The ranking just reflects that most homes in the city, especially newer ones, are larger.