Property Summary: 625 Magnus Avenue, Winnipeg

Section 1: Key Characteristics & Appeal

This is a classic one-and-a-half storey home in the William Whyte neighbourhood, built in 1907. Its key appeal lies in its value proposition and potential. The home sits on a larger-than-average lot (4,090 sq ft), offering more outdoor space than 74% of properties on its street. While the living area is compact at 792 sq ft, it is efficiently sized and ranks within the top 10% for space compared to all Winnipeg homes. A detached garage and a full, unrenovated basement add functional utility.

The property’s most striking characteristic is its financial profile. It possesses an exceptionally low assessed value ($9,700), placing it in the top 1% of Winnipeg for low property tax assessment. It last sold for $90,000 in May 2023, a price point that was notably low even for its immediate area at the time. This combination suggests a true entry-point opportunity.

This home would suit a specific type of buyer: a hands-on first-time purchaser, an investor looking for a hold-and-renovate project, or someone seeking a minimal property tax footprint. Its appeal is not in turn-key luxury, but in solid fundamentals—a large lot, a historic structure, and a very low cost base—offering a canvas for customization or a straightforward, affordable entry into homeownership.

Section 2: Frequently Asked Questions

1. Why is the assessed value so much lower than the recent sale price?
Municipal assessed value for property taxes is not the same as market value. A low assessment can indicate lower annual tax costs, but the sale price reflects what a buyer was recently willing to pay in the open market, which can be influenced by many factors not captured in the tax assessment formula.

2. What does "Yes, not renovated" for the basement mean?
This indicates the home has a full basement, but it is in its original or utilitarian state. Buyers should expect a functional space that may require moisture management, cosmetic updates, or structural review to be finished as living space. It represents potential rather than a completed feature.

3. The home sold for $90k in 2023. What does that price context mean?
The data shows that sale was in the top 8% for lowest sale prices on its street at that time. This suggests it was a notably affordable purchase even within its own neighbourhood, which could indicate a as-is condition, a motivated seller, or a unique circumstance that a buyer should seek to understand.

4. Who is the William Whyte neighbourhood suited for?
William Whyte is a historic, central Winnipeg neighbourhood. It typically appeals to value-conscious buyers, investors, and those who appreciate older home character and proximity to the downtown core. As with any urban area, prospective buyers are encouraged to visit at different times to gauge the community feel for themselves.

5. How significant is the lot size?
At 4,090 sq ft, the lot is a standout feature. It is larger than most on the street, offering more private outdoor space, better potential for gardening, parking, or future additions like a shed or deck, which is uncommon for homes of this vintage and price point in the city.