Property Overview: 1568 Hoka Street, Winnipeg
Section 1: Key Characteristics & Appeal
This home at 1568 Hoka Street in the Meadows neighbourhood presents a compelling profile defined by its clear standing within the community. Built in 1985, it is a notably newer construction compared to most homes on its street and across Winnipeg, suggesting potentially fewer major age-related concerns.
The property’s primary appeal lies in its combination of above-average space and a high assessed value relative to its immediate area. With 1,270 sqft of living area, it offers more space than most comparable homes on Hoka Street. The assessed value of $460k ranks in the top 3% on its street, indicating it is perceived as a premium property in its micro-market. The lot size of 5,654 sqft is also generous for the Meadows area.
This home would suit buyers looking for a well-established property that stands out on its block, offering more modern construction and square footage than its neighbours. It’s ideal for someone who values a strong positional value within a specific street or community, rather than just city-wide averages. The data suggests it may appeal to a buyer who sees value in a home that has likely been updated or maintained to a standard that commands a significantly higher assessment than surrounding properties.
Section 2: Frequently Asked Questions
1. How does the sold price history inform the current value?
The home sold between $400k-$450k in 2021. The current assessed value of $460k is higher, reflecting market changes and possible improvements since the last sale. This gap is a key point for valuation discussions.
2. What does its "Elite" ranking for assessed value on the street really mean?
It means that of 92 comparable homes on Hoka Street, only two have a higher assessed value. This signals that municipal assessors view this specific property as one of the most substantial on the block, which can be due to size, condition, upgrades, or a combination.
3. Being newer (1985) than neighbours is good, but are there any trade-offs?
While newer often means updated systems, a 41-year-old home will still require attention to major components like roof, windows, and HVAC, which may be nearing the end of their typical lifespans. Its newer age is relative, not absolute.
4. The living area is above average for the street, but average city-wide. How should I interpret this?
This highlights the importance of location context. You are getting a spacious home for the immediate area, which can be a comfort and resale advantage locally. For city-wide comparisons, it offers a standard amount of space.
5. Why is the land area ranking higher in the Meadows than on its own street?
The lot is consistently around 5,654 sqft. It ranks "around average" on Hoka Street because lots there are similarly sized. It ranks "above average" for the wider Meadows area because many lots in the broader neighbourhood are smaller, making this one comparatively larger.