Property Overview
This 1897 one-and-three-quarter storey home on Pacific Avenue in Winnipeg's Centennial neighbourhood is a property defined by its historical character and its position as a land-value opportunity. With 1,139 sqft of living space on a 2,605 sqft lot, it sits on a street of similar vintage homes. Its key appeal lies in its very low assessed value, which is below average for its street and significantly below the city-wide average, suggesting potential for those looking for an entry point or investment. The home has a basement but it is not renovated, and there is no garage or pool.
This property would primarily suit a specific type of buyer: the value-driven renovator or investor who is less intimidated by a project. It's a candidate for someone looking to put their own stamp on a character home, or for a strategic land-buy in an established neighbourhood where the value is fundamentally in the property itself rather than in the current condition of the dwelling. It is less suited to those seeking a turn-key, modern property with ample parking and finished amenities.
A thoughtful perspective is that while the living area is above average for its immediate street, the home's age and condition mean systems, structure, and energy efficiency will be primary considerations over square footage. Its appeal isn't in outshining the neighbourhood, but in offering a chance to enter it at a base level, with the work required reflected in the price.
Frequently Asked Questions
1. What does "below average" assessed value really indicate?
It primarily indicates the home's value for municipal tax purposes is low relative to others, often due to age, condition, or specific market factors. It can signal an opportunity but is not a direct market price guarantee.
2. The home is older than most on the street. What should I consider?
A build date of 1897 means potential for historical charm but also necessitates thorough inspections for foundation, wiring, plumbing, and insulation. Renovation plans should budget for unforeseen issues common in homes of this era.
3. There's no garage. Is parking available?
The listing indicates no garage. You should investigate on-street parking regulations, permit requirements, and typical availability on Pacific Avenue directly with the city or by observing the street at different times.
4. The basement is "not renovated." What does that typically imply?
This usually means the basement is in a raw or utility state, with unfinished walls and floors. It may house the furnace, water heater, and electrical panel but is not configured as livable space. Check for moisture, ceiling height, and access.
5. How useful are the comparisons to nearby properties?
They provide context for lot size, age, and value within a few blocks. For example, seeing similarly low assessed values on the street suggests a neighbourhood trend, not an outlier. However, condition and interior layout cause the most significant value differences.