716 Pacific Avenue – Property Summary
Key Characteristics & Buyer Profile
This is a character-rich 1913 home in Winnipeg’s West Alexander neighbourhood, offering 1,580 square feet of living space on a notably large 4,491-square-foot lot. The property stands out most for its size: it ranks in the top 7% for land area on its street and top 21% within the neighbourhood, giving it significantly more outdoor space than most nearby homes. The living area is also well above average—top 4% on Pacific Avenue and top 27% citywide—so the interior feels spacious relative to typical homes in the area.
Where the appeal lies is in value and potential. The assessed value sits at $261,000, which is above average for the street and neighbourhood but well below the citywide average of $390,100 (bottom 20% citywide). This suggests the property is priced affordably relative to the broader market, despite offering more space both indoors and outdoors. The age of the home (1913) is older than most in the city, but fairly typical for its immediate street and neighbourhood. For buyers who appreciate older construction, original details, and established neighbourhoods, this is a plus rather than a drawback.
This property would suit buyers who prioritize square footage and yard space over a modern build or a move-in-ready interior. It’s a strong fit for someone willing to invest in updates or renovations, particularly given the below-citywide assessed value. It may also appeal to buyers who want a home with character in a denser, older part of the city, rather than a newer suburban development. Investors or first-time buyers looking for an affordable entry point with room to add value should take note.
Five Possible FAQs
1. How does the assessed value compare to actual market price?
The assessed value of $261,000 is an official estimate, not a sale price. It ranks above average on the street and in the neighbourhood, but well below citywide averages. Actual market value could differ depending on condition, recent sales, and demand—so it’s worth comparing with similar homes that have recently sold.
2. Is the 1913 build a concern for maintenance?
Older homes often require more upkeep, especially with systems like plumbing, electrical, and insulation. However, the year built is typical for both Pacific Avenue and the West Alexander area. Many homes of this vintage have been updated over time. A thorough home inspection would clarify the current condition of major systems and whether any costly updates are overdue.
3. Why is the lot size considered a standout feature?
At 4,491 square feet, the land area is more than 50% larger than the average on the street (2,925 sqft) and top 7% locally. In older urban neighbourhoods, larger lots are less common, so this offers rare outdoor space—good for gardening, additions, or simply having room between neighbours.
4. How does the neighbourhood compare to the rest of Winnipeg?
West Alexander ranks in the top 27% for living area and top 11% for assessed value within the neighbourhood, meaning it’s a relatively strong area for both space and home values. But citywide, the property’s assessed value is in the bottom 20%, which likely reflects the neighbourhood’s overall price level rather than the home itself. It’s an area where you get more space for your dollar.
5. Could this property be a good candidate for a renovation or addition?
Yes, especially given the large lot and older structure. The land area could support an extension, a garage, or a garden suite, depending on zoning. The older build also means there may be potential to update interiors and increase value—just be sure to check permits, heritage restrictions, and the home’s structural condition before planning major work.