Property Overview: 197 Hallfield Bay, Winnipeg
Key Characteristics & Appeal
This is a well-maintained, one-storey home in the Dakota Crossing neighbourhood, built in 1992. Its key features include a renovated basement and an attached garage. The home’s primary appeal lies in its efficient, manageable scale. With 1,270 sqft of living space on a 5,213 sqft lot, it offers a low-maintenance footprint without feeling cramped, particularly suited for individuals or small families.
The property presents a compelling value perspective. While its size and assessed value are below average for its immediate street—a street of larger, newer homes—it holds its own within the broader Dakota Crossing area and stands out positively in a city-wide comparison. This suggests you may be acquiring a solid, updated home in a desirable area at a relative value. The recent sale in October 2024 also provides clear, current market pricing.
This home would best suit first-time buyers, downsizers, or pragmatic investors seeking a turnkey property in an established neighbourhood. It’s for those who prioritize location and a renovated condition over sheer size, and who appreciate the financial efficiency and simpler upkeep of a bungalow.
Frequently Asked Questions
1. How does this home’s size compare to others in the area?
At 1,270 sqft, the living area is smaller than most direct neighbours on Hallfield Bay, where comparable homes average 1,840 sqft. However, it is much closer to the average for both the Dakota Crossing area (1,483 sqft) and the entire city (1,342 sqft), indicating a more standard, manageable size.
2. What does the assessed value tell us about this property?
The assessed value of $47.40k is below the street average but aligns with the Dakota Crossing average. Notably, it ranks in the top 24% city-wide, suggesting the property holds significant value compared to the broader Winnipeg market, which is a positive indicator for long-term equity.
3. Is the lot size a disadvantage?
The lot is 5,213 sqft, which is smaller than others on the street but very close to the neighbourhood average. It provides adequate outdoor space for gardening or recreation without the burden of extensive lawn maintenance, which can be a benefit for many buyers.
4. How does the year built affect this home?
Built in 1992, the home is older than the average on its street but newer than the average home across Winnipeg. This typically means it benefits from modern construction standards while likely having mature landscaping and established community infrastructure.
5. Are the recent sale prices of nearby homes comparable?
The home sold in October 2024 for $52.10k. Nearby reference properties with similar assessed values have recently sold in the $54k-$58k range, but these homes often have more living space or newer construction dates, helping to contextualize this property’s price point.