Property Overview: 419 Pacific Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This is a compact, one-storey home built in 1887, situated on a modest lot in the Centennial neighbourhood. Its key characteristics are its historical age, very small living space (630 sq ft), and an unrenovated basement. The lot size is smaller than most on its street and in the wider area.
The primary appeal lies in its exceptionally low assessed value, positioning it as one of the most affordable property entry points in the city. This is not a move-in-ready home for most; its appeal is for a specific buyer. It would best suit an investor, a builder, or a highly hands-on homeowner looking for a land-value opportunity or a total renovation project. The low property tax burden, based on its assessment, is a notable financial consideration. A thoughtful perspective for the right buyer is the potential in its constraints: its small size and historic fabric could inspire a clever, efficient redesign or a heritage-sensitive restoration, making it a unique proposition in a market of larger, modernized homes.
Section 2: Frequently Asked Questions
1. Is this a liveable home in its current state?
Based on the details provided, the home is likely in very basic or rough condition, noted by its small size, unrenovated basement, and assessed value significantly below the city average. It should be considered a project property.
2. Why is the assessed value so much lower than the city average?
The assessed value reflects the property's very small size, older age, and probable condition relative to the broader Winnipeg market. It ranks in the bottom tier of the city for assessed value.
3. What is the potential here for a buyer?
Potential is based on land value and redevelopment. A buyer could consider a full renovation, a rebuild (subject to zoning), or holding the lot as a long-term investment. The low entry cost allows budget for improvements.
4. How does the lot size compare to neighbours?
The land area of 1,937 sq ft is below average for Pacific Avenue and significantly smaller than the typical lot in both the Centennial neighbourhood and Winnipeg overall.
5. The home last sold in early 2020. What does that indicate?
The previous sale price was consistent with its current low assessment, indicating it has been positioned as a value-play property for some time. This history underscores its status as a long-term project rather than a standard residential sale.