Property Overview
50 Hyatt Place is a two-storey home in Winnipeg's Dakota Crossing neighbourhood, built in 1984. With 1,220 sqft of living space and a renovated basement, it sits on a 3,409 sqft lot. The home has no garage or pool. It last sold in December 2024 for $370,000, a significant increase from its previous sale price of $31,300 in 2020. Its current assessed value is $34,600.
Key Characteristics & Buyer Appeal
This home’s primary appeal lies in its strong value proposition within its immediate locale. Its living space is notably above average for Hyatt Place (ranking in the top 9%), offering more room than most direct neighbours. The renovated basement adds functional space. While the lot is modest for the city, it is typical for the street. A key, less obvious perspective is its position as one of the original homes on the block (built in 1984, ranking #1 on the street for year built), which may suggest established landscaping and a mature streetscape compared to newer subdivisions.
The property suits practical, value-conscious buyers. It would be ideal for first-time homeowners looking for a move-in-ready space with a modernized basement in a settled neighbourhood. It also appeals to investors or downsizers seeking a manageable property without premium lot size or garage maintenance. The recent sharp appreciation in sale price indicates a market recognition of its updated condition.
Frequently Asked Questions
1. Why is the assessed value so much lower than the recent sale price?
Assessed values in Manitoba are for municipal tax purposes and are based on mass appraisal techniques from a prior base date. They often lag behind rapid market shifts. The December 2024 sale price is considered the current market value.
2. What does the ranking data (e.g., "Top 9%") mean for living area?
This means the home's living area is larger than 91% of the 32 comparable properties on Hyatt Place. It indicates you get more interior space than most homes on this specific street.
3. Is the lack of a garage a major drawback?
This depends on buyer needs. For the street and area, it is not uncommon. It reduces maintenance costs and may be acceptable for households with one vehicle or those who prioritize interior space over vehicle storage. On-street parking is likely the norm here.
4. The lot size is noted as "below average" for the city. Is that a concern?
The lot is smaller than the Winnipeg average, but is very typical for the Dakota Crossing area and is actually around average for Hyatt Place itself. It means less yard maintenance but also less private outdoor space.
5. Given the major price increase since 2020, is it still a good value?
The 2020 sale price was exceptionally low. The 2024 price reflects a updated, market-ready condition. Value is relative; while it has appreciated significantly, its price point remains accessible, and its interior space is strong for the immediate area, which buyers pay a premium for.