Property Overview: 1850 Pacific Avenue W, Winnipeg

Section 1: Key Characteristics & Appeal

This is a modest, one-storey home in Brooklands, built in 1925. Its primary appeal lies in its land value and location within a well-established neighbourhood. The house itself is compact at 730 sq ft of living space and features an unrenovated basement and no garage. The lot, however, is a generous 2,593 sq ft—larger than many on its street—offering clear potential for expansion, gardening, or outdoor living.

The property suits specific buyer types. It’s a practical entry point for a first-time buyer or investor comfortable with a home that needs updates. Its below-average assessed value and historically low sale price point to a lower barrier to entry. A thoughtful perspective is that this home represents a "blank canvas" on a solid piece of land; its value is less about its current condition and more about the future potential it holds, whether as a long-term hold, a renovation project, or a strategic land purchase in a mature area.

Section 2: Frequently Asked Questions

1. Is the price reflective of a "tear-down"?
While the home is smaller and older, the data does not explicitly state it’s a tear-down. The price and value are significantly below averages, which often indicates a property valued largely for its land. A professional inspection would determine the feasibility of renovation versus replacement.

2. What does "below average" for assessed value mean for my taxes?
A lower assessed value generally correlates with lower property taxes compared to higher-valued homes in the same city. This can be an ongoing cost advantage, but it’s essential to get current tax figures from the city, as assessments are just one factor.

3. The home last sold in 2020 for $11,500. Is that relevant today?
That sale price is a historical data point and likely reflects a very different market or specific sale conditions. It underscores the property’s long-standing position as a lower-value asset but should not be used as a direct indicator of its current market value.

4. How significant is the lack of a garage?
For this type of property, the absence of a garage is consistent with many older, compact homes. Buyers should budget for alternative parking or the potential cost of adding a shed or garage in the future, subject to local bylaws.

5. The lot is larger than average for the street. How much of an advantage is this?
This is a key feature. A larger lot in an older neighbourhood provides flexibility that smaller lots do not. It allows more room for additions, decks, landscaping, or detached structures, potentially increasing the utility and future value of the property more than a standard lot would.