Here is the summary based on the property data provided.
1518 Pacific Avenue W – Property Summary
Key Characteristics & Ideal Buyer Profile
This is a newer infill home built in 2020, which stands out sharply in an area dominated by homes from the 1930s. It is ranked in the top 1% for newness on its street and neighborhood, and top 3% city-wide. The living area is 1,706 sqft, making it significantly larger than the typical home on Pacific Avenue (where the average is 986 sqft) and in the Weston neighborhood (average 936 sqft). Its assessed value of $399k is the highest on the street, reflecting the premium placed on modern square footage in this older, established area.
The appeal here is value relativity. You are getting a house that is large and new compared to its immediate surroundings, but its assessed value is only around average when compared to the rest of Winnipeg. This suggests it may offer more house for the money than a similar property in a newer subdivision, though the trade-off is a modest land area (2,491 sqft) that is smaller than both the neighborhood norm and the citywide average.
This property best suits a buyer who prioritizes interior space and a modern, low-maintenance build over a large yard. It is ideal for someone who wants a move-in-ready home in a central, established neighborhood with character, without the renovation headaches common to older homes in the area. Families or professionals who value square footage and location over a sprawling lot will find this appealing.
Frequently Asked Questions
1. Why is the assessed value so high for the street but average for the city?
The street and neighborhood have older, smaller homes with lower average values (around $185k). Your home is new and large, so it outranks all of them. However, when compared to the entire city, $399k is a mainstream price point because Winnipeg has many large, expensive homes in newer subdivisions. You are getting top-tier value for your specific location, not for the city as a whole.
2. The land area seems small. What does this mean practically?
The 2,491 sqft lot puts you in the bottom 20% for your neighborhood. This means the yard is modest, with limited space for gardening or large play structures. However, it also means less maintenance. This is a common trade-off for infill homes built on lots that were subdivided or are located in older, tighter street grids.
3. How does the "Top 2%" living area ranking work exactly?
It means that of the 323 homes comparable to yours on Pacific Avenue, only about 6 have more square footage than you do. The same logic applies to your neighborhood of 1,736 homes. This ranking does not compare you to mansions; it compares you to the typical stock of homes in that specific area, which are much smaller on average.
4. Is the "2016 built" average for the city misleading?
Not misleading, but worth understanding. The city-wide average year built is 1966, which includes many very old homes. Your 2020 build puts you in the top 3% city-wide. The "2016" figure likely comes from a different data set or a typo in the raw data, but the key takeaway is that your home is newer than nearly all others in Winnipeg.
5. How reliable is the assessed value for pricing the home?
The assessed value of $399k is a useful benchmark set by the municipality, but it is not a market valuation. It is based on mass appraisal and may lag behind recent sale prices. It is excellent for understanding property tax implications, but you should treat it as a starting point, not a definitive price tag.