Property Overview: 1564 Hoka Street, Winnipeg

Section 1: Key Characteristics & Appeal

This home at 1564 Hoka Street in the Meadows neighbourhood presents a compelling, efficiency-focused profile. Built in 1984, it is a notably newer home compared to most on its street and across Winnipeg, suggesting potentially fewer concerns with aging infrastructure. With 1,112 sqft of living space, it offers above-average roominess for Hoka Street itself, fitting comfortably within the typical range for the broader area.

The property’s standout feature is its financial footprint. The assessed value of $39,500 is well above the street average, which often indicates the home is in better condition, has seen more updates, or is simply better appointed than its immediate neighbours. However, it’s important to note this is a relative strength; the assessment remains modest in absolute terms, pointing to a home with inherently manageable property taxes. The lot size is slightly smaller than others on the street, which translates to less yard maintenance—a practical perk for some.

This home would suit first-time buyers or downsizers seeking a move-in-ready property in a stable neighbourhood without a premium price tag. It’s particularly suited for those who value a newer build date and solid condition relative to the immediate area, and who prioritize interior space and modern systems over having a large yard. The recent sale history (2021, in the $400k-$450k range) confirms its marketability in this segment.

Section 2: Frequently Asked Questions

1. What does an "above average" assessed value on the street actually mean?
It means this home’s official city assessment is higher than most of its direct neighbours. This typically reflects factors like a newer construction date, better condition, or improvements that add value compared to other homes on Hoka Street. It’s a positive indicator of the home’s relative standing on the block.

2. The home sold in 2021. What can that price tell me?
The prior sale price (estimated between $400,000 and $450,000) provides a concrete, recent benchmark for the home’s market value, which can be more informative than the much lower municipal assessed value used for calculating taxes.

3. Is the smaller lot size a disadvantage?
It depends on your priorities. While the lot is below the street average, it is very typical for the wider Meadows area. A smaller lot generally means less outdoor maintenance and can be a practical advantage. It may limit expansion potential but contributes to a low-maintenance lifestyle.

4. How significant is the 1984 build year?
Very significant in this context. Being built in 1984 makes this home nearly 20 years newer than the average house on Hoka Street and newer than the Winnipeg average. This often translates to building materials, electrical systems, and insulation that meet more modern standards, potentially reducing immediate renovation needs.

5. Why is the city-wide assessed value average shown as $390k?
This appears to be a notable discrepancy in the data. The $390k city-wide average for "comparable homes" seems inconsistent with the local figures and the home’s own profile. It’s advisable to focus on the street and neighbourhood comparisons, which are more relevant benchmarks for this property.