Property Overview
58 Hyatt Place is a compact, one-storey home in Winnipeg's Dakota Crossing neighbourhood. Built in 1984, its key feature is a renovated basement, adding functional living space to the 890 sqft main floor. The home sits on a standard-sized lot for its immediate street but is smaller than typical lots in the wider area. It has no garage or pool. The home’s assessed value is notably modest for the city overall, positioning it as an accessible entry point into the market.
Key Characteristics & Appeal
This property’s primary appeal lies in its value and practicality. With a living area below the neighbourhood and city averages, it is a genuinely compact home, suited for minimalists, first-time buyers, or investors seeking a manageable property. The renovated basement is a significant functional upgrade, offering flexibility for a family room, home office, or additional storage.
Its strongest financial characteristic is its assessed value, which is around the city-wide median but ranks in the bottom tier for the Dakota Crossing area. This suggests the home is priced below the neighbourhood norm, potentially offering value in a community that might otherwise be less affordable. The lot size, while average for Hyatt Place, is smaller than most in Dakota Crossing, resulting in lower maintenance—a plus for those seeking a simpler yard.
The ideal buyer is budget-conscious and values function over size. It would suit a first-time homeowner ready to enter the market, a downsizer looking to reduce upkeep, or an investor seeking a rental property with a relatively low tax assessment. It’s a home for those who see the advantage in a smaller footprint and a modernized basement, without requiring extra features like a garage or large yard.
Frequently Asked Questions
1. Is the smaller living space a significant drawback?
It depends on your needs. The home's living area is below average for the neighbourhood and city, which means efficient use of space is key. However, the renovated basement effectively doubles the usable area, making the overall footprint more practical for a small household.
2. Why is the assessed value so much lower than the Dakota Crossing average?
The assessed value is based on the specific attributes of the home, including its smaller size (both living area and lot), age, and lack of features like a garage. It indicates this is a more modest property compared to the broader neighbourhood, which may include larger, newer, or more updated homes.
3. What does the "Elite" ranking for Year Built on its street mean?
This statistic shows that, compared to its immediate neighbours on Hyatt Place, this home is one of the newest, built in 1984. This can be an advantage, suggesting potentially newer core components (like wiring or plumbing) than older homes on the same block.
4. What are the implications of not having a garage?
Buyers should plan for street parking or the potential cost of adding a shed or carport. This is a common trade-off for affordable, compact homes and contributes to the lower property taxes.
5. How does the lot size compare, and what does it mean for me?
The lot is a standard size for Hyatt Place but is smaller than the typical lot in Dakota Crossing. This means less yard maintenance and gardening, which can be a benefit for those seeking a low-maintenance lifestyle, but offers less private outdoor space.