Property Overview
This 768 sqft home, built in 1955 on a 4,199 sqft lot at 506 Hoka Street in Victoria West, presents a specific value proposition. Its key characteristic is its position as a more affordable entry point within its context. The home's assessed value for taxes is notably below the average for its street and the city, and its living space is compact compared to broader averages. However, within the immediate Victoria West community, its metrics—for assessed value, lot size, and build year—are much closer to the neighbourhood norm. This indicates the property is typical for the area rather than an outlier.
Its appeal lies in its accessibility. It suits first-time buyers or investors seeking a lower-cost foothold in a well-established neighbourhood, where they can potentially add value through updates. It may also appeal to downsizers looking to rightsize without leaving the community. A less obvious perspective is that a smaller home on a reasonably sized lot offers a manageable outdoor space with lower maintenance, and its "below-average" size and assessment could translate to relatively lower utility and property tax burdens.
Frequently Asked Questions
1. Is this house significantly smaller than its neighbours?
On Hoka Street, yes—its living area is below the street's average. However, within the wider Victoria West community, its size is much more in line with typical homes, suggesting the street itself has larger properties.
2. What does the assessment ranking mean for property taxes?
The assessment for tax purposes is below the average for both the street and the entire city, which is a strong indicator that your annual property tax bill should be comparatively lower than many other single-family homes in Winnipeg.
3. The house was built in 1955. What should I be aware of?
While the build year is older than the street average, it is very close to the average for the Victoria West area, meaning many homes nearby are of a similar vintage. A thorough inspection for era-specific systems (like original plumbing or wiring) and updates over the years will be essential.
4. How does the lot size compare?
At just over 4,000 sqft, the lot is smaller than the street and city average but is nearly identical to the typical lot size in Victoria West. It provides a decent outdoor space that is consistent with the neighbourhood's character.
5. Are these rankings a measure of quality?
Not directly. They are statistical comparisons of specific, measurable data points (size, value, year). A home that ranks "below average" in size or assessed value can represent excellent value for a buyer whose priorities are affordability, location, and a manageable property.