1623 Pacific Avenue W – Property Summary

Key Characteristics & Suitability

This is a compact, older home in the Weston area of Winnipeg, built in 1929. At 738 square feet of living space, it is significantly smaller than both the street average (986 sqft) and the citywide average (1,342 sqft). The land is also on the smaller side at 2,475 square feet, though this is less unusual for an urban infill lot. The assessed value stands at $211,000, which is notably higher than the street and neighborhood averages (around $185,000) but well below the citywide average of $390,000.

The appeal here is straightforward: affordability relative to the broader market. This is not a home that competes on space or a large yard. Its value lies in being a lower-cost entry point into a mature neighborhood with established streets. The assessed value ranking suggests the property holds its worth relative to immediate neighbors, even if it lacks square footage. It would suit a first-time buyer, someone downsizing from a larger home but wanting to stay within an older neighborhood, or an investor looking for a rental property with lower entry costs. A less obvious angle: for a buyer who values craft or renovation potential, the 1929 construction date suggests solid materials (often old-growth timber, quality brickwork) compared to mid-century builds. You are paying for location and structure, not space.

Frequently Asked Questions

1. Is this a good property for a renovation or addition?
The home is small and on a lot that’s below average size for the area. Any addition would be constrained. However, the 1929 build likely has good bones. You would need to check for knob-and-tube wiring, foundation condition, and local zoning setback rules before planning significant work.

2. How does the assessed value compare to similar homes nearby?
The assessed value ($211k) is above the street and neighborhood averages (around $185k), meaning it is considered higher-value than many comparable homes in the immediate area. Citywide it ranks low, reflecting that Winnipeg has many larger and more expensive homes overall.

3. What does “living area” mean for a home this size?
738 square feet is small by modern standards—roughly the size of a one-bedroom apartment. For a detached home, this typically means a compact bungalow with two small bedrooms, a combined living/dining area, and a single bathroom. It is well below the city average of 1,342 sqft.

4. Why is the assessed value high relative to the street if the home is so small?
Assessed value considers more than just square footage. Factors like recent renovations, lot desirability, roof condition, mechanical systems, and the general price level of similar homes on the street all play a role. This home may have been updated or benefit from being on a well-maintained block.

5. Is this property a good investment for rental income?
Given the low purchase price relative to city averages—and the fact that assessed value is above the local median—there may be solid rental demand in this price bracket. However, the small size limits your tenant pool to singles or couples. Check local rental rates for two-bedroom homes in Weston before assuming a strong yield.