Property Overview: 1864 Pacific Avenue W, Winnipeg
Key Characteristics & Appeal
This is a classic, one-storey home in Winnipeg's Brooklands neighbourhood, built in 1915. It sits on a 2,594 sqft lot, which is a generous and fairly typical size for Pacific Avenue, offering good outdoor space relative to many city properties. The home itself is modest in size at 709 sqft of living area, with an unrenovated basement and a detached garage. Its assessed value is positioned below the citywide average, reflecting its scale and the neighbourhood.
The primary appeal lies in its value as a land-holding property or a straightforward, functional home. It suits first-time buyers or investors looking for an entry point into the market with lower carrying costs. The lot size presents a key opportunity: it offers potential for expansion, a garden, or future redevelopment, which is a significant asset not always available in this price range. For a buyer comfortable with a project, the unrenovated basement and the home's vintage character provide a blank canvas to add value over time. It’s a practical choice for those who prioritize location and lot potential over immediate move-in finish and square footage.
Frequently Asked Questions
1. What is the true potential of the lot?
At 2,594 sqft, the lot is larger than many in the city and is actually around the average for Pacific Avenue itself. This suggests room for additions, a sizable yard, or future development, subject to local zoning bylaws.
2. How does the age of the home (1915) affect it?
While the home is over a century old, its construction date is around the average for its immediate street. This indicates the character of the area but means buyers should budget for maintenance and updates expected for a home of this era, including systems like wiring and plumbing.
3. Is the assessed value a reliable indicator of the sale price?
The current assessed value is $160,000. The home last sold for $120,000 in 2016. Market conditions, property demand, and the home's condition will determine the final sale price, so the assessed value is a guideline rather than a fixed price.
4. Who would this property not suit?
It may not be ideal for buyers seeking a large, modern, or immediately turn-key home without renovation work. The living area is compact, and the basement is unrenovated, so it requires a willingness to live with or improve its current state.
5. How does it compare to the broader neighbourhood and city?
The data shows this property is consistently below the Winnipeg city averages for size and value, but it is more aligned with—or even above—the averages on its own street. This highlights that Brooklands and Pacific Avenue offer more affordable options compared to the wider city market.