688 Pacific Avenue – Property Summary
1. Key Characteristics & Buyer Profile
Size and Space
This is a notably large home for its street. With 1,620 sqft of living area, it ranks in the top 3% on Pacific Avenue, where the average home is under 1,000 sqft. The land is also generous: 4,885 sqft places it in the top 6% on the street and top 17% in the West Alexander neighbourhood. Citywide, the lot size is near average, but in this part of Winnipeg, larger lots are uncommon.
Value and Age
The assessed value of $252k is above average for the street and neighbourhood—both of which sit around $186k–$187k—but well below the citywide average of $390k. That gap suggests the property offers good value relative to newer or more centrally located homes, though it also reflects the age of the house (built in 1907). Compared to other homes on the street, it's among the older ones (top 78% older), but within the neighbourhood, it's around average age.
What Makes It Stand Out
The combination of a large living area and a big lot on a street where both are typically much smaller is the property’s main asset. It’s a house that offers uncommon interior and exterior space for the immediate area, but without the price tag you’d expect for that size in newer parts of the city.
Who It Would Suit
Buyers who value space over modernity. Families or individuals who want room to spread out—both inside and outside—and are comfortable with an older home that may need updates or maintenance. It’s less suited for someone looking for a move-in-ready, low-maintenance property or a newer build. Also worth noting: the low citywide ranking for assessed value (top 82%) means the property is relatively affordable compared to much of Winnipeg, which could appeal to buyers priced out of central or newer neighbourhoods.
2. Frequently Asked Questions
1. How does this property compare to others on Pacific Avenue?
It’s one of the largest homes on the street—top 3% for living area and top 6% for lot size. It’s also one of the older homes, built in 1907 versus an average of 1936 for the street. The assessed value is above average, reflecting its size advantage.
2. Is the assessed value of $252k accurate for this area?
Yes, it’s in line with the neighbourhood average ($187k) and above the street average ($186k), but well below citywide averages. The lower citywide rank (top 82%) suggests the home is priced affordably relative to the broader Winnipeg market, likely due to its age and location.
3. What condition is a 1907 home likely to be in?
The data doesn’t cover condition, but age alone suggests systems (roofing, wiring, plumbing, foundation) may be older and could need inspection or eventual replacement. Homes from this era often have solid bones but require ongoing upkeep. A thorough home inspection is strongly recommended.
4. How big is the lot, and what could it be used for?
4,885 sqft is well above the street average of 2,925 sqft. It’s a sizable city lot, offering room for a large garden, addition, or outbuilding (subject to zoning). Citywide it’s slightly below average, so it’s not oversized by Winnipeg standards, but in West Alexander it’s generous.
5. Would this property be a good investment?
That depends on your goals. The low assessed value relative to citywide averages means there may be room for appreciation if the area improves or if you renovate. However, older homes can carry higher maintenance costs. The property’s size and relative affordability for its street are its main draws, but it’s not a new build or a turnkey asset.