715 Magnus Avenue – Property Summary

Key Characteristics & Buyer Profile

This is a 1,421 sqft home built in 1909 on a 2,463 sqft lot, located on Magnus Avenue in the William Whyte neighbourhood. Its standout feature is living space: the home is significantly larger than most properties on its own street (top 11%) and well above the neighbourhood average. The assessed value of $181,000 is roughly in line with the street median but notably higher than the surrounding area (top 25%), reflecting the premium attached to that extra square footage. The land, however, is smaller than typical—both on the street and citywide—so outdoor space is limited. The building’s age is a real factor: it’s older than 95% of homes citywide, which will mean maintenance and possibly outdated systems.

The appeal here is straightforward: you get a lot of interior room for a relatively low price point, especially compared to citywide averages ($390k). The assessed value suggests this won’t compete with newer or more centrally located properties, but it may offer good value for someone who prioritizes indoor square footage over land or a modern finish. Because the lot is small, ongoing upkeep (roof, foundation, mechanicals) becomes even more critical—you can’t rely on land appreciation to offset repair costs. This property would suit a buyer who is comfortable with an older home, values space over yard, and is willing to invest in gradual upgrades. It may be less suitable for families wanting room to expand or for anyone seeking a move-in-ready property without potential deferred maintenance.

Five Possible FAQs

1. How does the assessed value compare to similar homes in the area?
The home’s assessed value of $181k is right around the street average of $178k, but well above the neighbourhood average of $149k. That gap reflects its larger-than-average living area. Citywide, though, it falls well below the median of $390k—so you’re getting more space for a lower price than many other Winnipeg neighbourhoods.

2. Is the small lot a concern?
It could be, depending on your needs. At 2,463 sqft, the lot is smaller than most on Magnus Avenue (bottom 18% on the street) and much smaller than typical city lots. This limits outdoor activities, gardening, or any future addition. On the plus side, less land means less yard maintenance.

3. What should I know about the home’s age?
Built in 1909, this is an older house even by local standards. The neighbourhood average construction year is 1927, and citywide it’s 1966. An older home can have charm and solid bones, but expect attention to wiring, plumbing, insulation, and possibly the foundation. A thorough inspection is strongly recommended.

4. Why is the assessed value higher than the neighbourhood average but so much lower than the city average?
Neighbourhood values in William Whyte tend to be below citywide medians. This home’s value rises above the neighbourhood average due to its above-average living area, but it still sits in a lower-cost area overall. The citywide average pulls up newer, larger homes in more expensive districts.

5. How does the living space compare to other homes in Winnipeg?
At 1,421 sqft, this home is in the top 35% citywide for living area, meaning it’s larger than roughly two-thirds of homes in the city. On its own street, it’s in the top 11%. So you’re getting a good amount of indoor space relative to most properties, especially for the price.