543 Pacific Avenue

Property Overview

This one-and-three-quarter storey home, built in 1882, presents a distinct opportunity in Winnipeg's Centennial neighbourhood. Its primary appeal lies in its generous 1,434 sqft living area, which ranks well above average for its street, offering more interior space than most comparable homes nearby. The property sits on a 2,603 sqft lot. It features a basement, though it is not renovated, and does not include a garage or pool. Recent data shows it sold for $24,800 in September 2024, with an assessed value of $21,700.

This home would suit a specific type of buyer: someone looking for a character home with good interior space relative to its immediate area, who is prepared for the realities of an older structure. It is likely a project property, ideal for a hands-on buyer interested in history and potential, rather than someone seeking a move-in-ready modern home. Its value proposition is rooted in its spacious interior for the locale and its very low price point, which trades modern amenities and updated systems for land and footprint in an established area.

Frequently Asked Questions

1. What does "one-and-three-quarter storey" mean?
This is a common architectural style for older Winnipeg homes. It typically means the second floor has sloped ceilings (following the roof line) and potentially dormer windows, creating full-height rooms in the center but with reduced headspace near the exterior walls.

2. The assessed value seems very low. Why is that?
The assessed value is for taxation purposes and is often significantly lower than market sale prices, especially for older homes. The recent sale price of $24,800 is a more accurate reflection of its current market value.

3. What are the main considerations with a home built in 1882?
Buyers should prioritize inspections for foundational integrity, wiring, plumbing, and insulation. While it offers charm and history, maintenance and potential upgrades (like the unrenovated basement) will be central considerations. Its age is notably older than almost all homes on its street and in the city.

4. How does the lot size compare?
At 2,603 sqft, the lot is around average for Pacific Avenue but below average for both the wider Centennial neighbourhood and the city overall. This suggests the home's value is more in its interior space than in its outdoor land area.

5. There's no garage. Is street parking readily available?
The listing notes no garage. Prospective buyers should visit the street at different times to assess on-street parking availability, which is common in older neighbourhoods, and check for any permit requirements or restrictions.