Property Overview: 1150 Hector Bay W, Grant Park, Winnipeg
Key Characteristics & Appeal
This is a well-positioned, one-storey home in the established Grant Park neighbourhood. Built in 1957, its key strength lies in offering above-average space and value within its immediate context. With 1,240 sqft of living area and a 5,657 sqft lot, it ranks in the top 25-30% of similar homes on its street and in the wider Grant Park area for both size and assessed value. The home features a renovated basement and a detached garage.
Its appeal is grounded in offering more house and land than many comparable properties in a desirable area, suggesting a solid value proposition. It would particularly suit first-time buyers or downsizers looking for a manageable single-level layout in a mature neighbourhood, without compromising on indoor and outdoor space relative to nearby options. A thoughtful perspective is that while its citywide rankings for size and value are around average, its standout performance within Grant Park indicates you are paying for a premium lot and home for that specific community, which can be a wiser investment than a similarly priced home that is average or below-average in a more expensive district.
Frequently Asked Questions
1. What does the "above average" ranking actually mean for this home?
It means that compared to similar homes directly on Hector Bay W and in the Grant Park area, this property has more living space, a larger lot, and a higher assessed value than most of its immediate peers. This suggests it's a stronger-than-typical offering in its local market.
2. The home was built in 1957. What should I consider?
While the building age is typical for the area, a home of this vintage will likely have original components, like windows, plumbing, or electrical systems, that may need evaluation or updating. The renovated basement is a positive, but the condition of the main structure and other major systems should be a focus of a professional inspection.
3. How useful is the sold price history from 2016?
The 2016 sale price provides a historical benchmark, but it is not indicative of current market value. Its primary use is to understand the property's price trajectory over a long period. For a current valuation, you should rely on a comparative market analysis of recent sales in Grant Park.
4. The assessed value is listed as $39.50k. Is that the market value?
No. Municipal assessed values in Manitoba are typically much lower than market value and are used for calculating property taxes. The market value is determined by what buyers are currently willing to pay, which is often significantly higher. The key takeaway from the assessment data is that this home is assessed higher than many of its neighbours.
5. Who would this home not suit as well?
Buyers seeking a modern, turn-key home with no renovation projects may find the 1957 build date a drawback. Additionally, those who prioritize a massive city-sized lot or ultra-modern open-concept layouts might find better options in newer suburban developments, albeit potentially at a higher price per square foot in a less central location.