618 Magnus Avenue – Property Summary

What Makes This Property Stand Out

This is a 963 sqft home built in 2006 on a 3,571 sqft lot, with an assessed value of $270k. The property sits on Magnus Avenue in the William Whyte neighbourhood of Winnipeg. Its strongest features are the year built and the assessed value relative to the surrounding area. Built in 2006, it's significantly newer than most homes on the street (average build year 1937) and in the neighbourhood (average 1927). The assessed value sits well above both the street and neighbourhood averages, ranking in the top 9% on the street and top 4% in William Whyte. The lot size is slightly above the neighbourhood average but below the citywide norm. The living area is around average for the street and neighbourhood but below average citywide.

The main appeal is getting a relatively modern home in an older, established neighbourhood where most houses were built before 1940. The assessed value suggests the property has already appreciated or been improved beyond the typical home in the area, which may reflect updates, a finished basement, or other additions not captured in the square footage alone. This property would suit buyers who want a newer-construction home without leaving the central part of the city, or investors looking for a property that already stands out in a neighbourhood undergoing gradual change. It may also appeal to someone who values a larger-than-average lot within the neighbourhood, as the 3,571 sqft lot is in the top 14% locally.

Frequently Asked Questions

1. The living area seems small compared to citywide averages—is the house cramped for a family of four?
The 963 sqft is a common size for pre-war homes in central Winnipeg, and the 2006 build likely has a more efficient floor plan than older houses of the same square footage. However, it would be tight if you're looking for separate bedrooms for everyone and a dedicated home office. The lot size does offer some potential for a future addition, depending on zoning.

2. Why is the assessed value so much higher than the neighbourhood average if the living area isn't large?
The assessed value reflects more than just square footage—it considers the age, condition, and quality of construction. A 2006 build will typically have newer mechanical systems, insulation, windows, and roofing compared to homes from the 1920s and 1930s, which contributes to a higher valuation even without a larger footprint.

3. What does "top 4% in the neighbourhood" for assessed value mean in practical terms?
It means this property is among the most highly valued homes in William Whyte. This could be an advantage if you're concerned about resale value, but it also means you'd be paying property taxes based on a higher assessment than most of your neighbours. It's worth checking whether the assessed value aligns with recent sale prices for similar properties in the area.

4. How does the 2006 build date actually affect the condition of the home today?
A house built in 2006 is nearly 20 years old, so some major systems may be approaching replacement age—particularly the roof (if original asphalt shingles) and water heater. That said, compared to most homes in the area, it still has decades before major structural issues like foundation work or knob-and-tube wiring become concerns. The framing and building codes from 2006 are also more modern than those from the 1920s–1940s.

5. Is this property in a neighbourhood that's improving or declining?
The data shows a mix: the property is among the newest and most valuable on the street, but the overall citywide ranking for assessed value and living area is below average. That suggests William Whyte is not a high-demand area citywide, but individual properties like this one stand out. You'd want to look at recent development permits, local school ratings, and commercial investment along Magnus Avenue to get a clearer picture of the area's trajectory.