1391 Pacific Avenue W – Property Summary
Key Characteristics & Buyer Profile
This is a 768 sqft home built in 1955 on a 2,410 sqft lot in Winnipeg’s Weston neighbourhood. Its assessed value is $223,000.
The property’s main appeal is value. It’s assessed well above both its street and neighbourhood averages (ranking in the top 22% and top 20%, respectively), despite having a below-average living area and a smaller lot. This suggests a home that offers more equity or lower relative purchase cost per dollar of assessed value compared to nearby properties. The year built (1955) is also older than most citywide homes but newer than much of the street and neighbourhood, meaning it may have had updates or better original construction than its immediate peers.
The smaller footprint and lot size will not suit buyers looking for maximum square footage or a large yard. It is better suited to first-time buyers, investors focused on entry-level rentals, or anyone prioritizing affordability and location over space. The property is not for someone wanting a “move-in ready” status symbol; it looks like a practical, no-fuss asset in an older, established area where comparable homes tend to be smaller and older than city averages. One less obvious perspective: because the land area is very small (bottom 13% on the street, bottom 3% citywide), future redevelopment potential is limited, but maintenance costs (lawn care, roof area, utilities) will likely be lower than typical for the neighbourhood.
Five Possible FAQs
1. Why is the assessed value high if the house is small?
Assessed value reflects market conditions and comparable sales, not just size. This property likely benefits from being in a location where prices have risen, or its condition/updates may be better than the small size suggests. The data shows it ranks far higher for value than for living area, which often indicates a property where land or location is driving the valuation more than interior space.
2. How does the smaller lot impact resale or use?
A smaller lot means less outdoor space and lower privacy from neighbours. It also caps future additions (you likely won’t be able to expand the house much without exceeding lot coverage limits). On the positive side, yard maintenance is quicker and cheaper, and property taxes (based partly on land value) may be lower than for larger lots nearby.
3. Is this a good investment property?
It could be, particularly if it’s priced below the assessed value or if you can add value through cosmetic updates. But a small living area and low square footage can limit rental income potential compared to larger homes in the same area. The strong assessed value relative to neighbours suggests it may already be priced near its ceiling for the area.
4. How does this home compare to others in Weston neighbourhood overall?
It’s roughly average for living area within Weston (top 69%) and above average for assessed value (top 20%). It’s on the older side for the neighbourhood (top 16% for year built, meaning most nearby homes are older). The lot is below average for Weston, which is consistent with an older, established area where lots tend to be smaller.
5. What does “top 93%” for citywide living area mean?
It means that out of nearly 195,000 comparable homes in Winnipeg, this one ranks in the bottom 7%—only about 13,000 homes citywide have a smaller living area. It underscores that this is a very compact home by city standards, not just local ones. Buyers should expect less interior space than the typical Winnipeg house.