Property Overview & Key Characteristics
This condominium at 3-279 Hugo Street N in Winnipeg's Earl Grey neighbourhood stands out for its exceptional space and value. Its primary appeal lies in the significant size of the home—at 1,466 sqft, it ranks in the top 4% on its street and top 10% city-wide for living area, offering a spaciousness rare for a condo. This is paired with an elite-tier assessed value, ranking in the top 1-2% of its immediate area, suggesting a highly favorable valuation relative to similar properties.
The unit, built in 2013, is modern yet not the newest on its block, but it benefits from being considerably newer than most homes in the broader Earl Grey area. Recent sale history indicates strong, premium pricing. This combination suits buyers looking for a move-in-ready, low-maintenance property without sacrificing square footage, such as downsizers from a single-family home who still desire ample room, or professionals seeking a spacious, modern residence in a central neighbourhood. Its metrics suggest it’s a standout property for those who prioritize space and perceived value within the condo market.
Frequently Asked Questions
1. Why is the assessed value so high compared to nearby homes?
The assessed value ranks in the top 1% on Hugo Street N, indicating that municipal assessment views this property as exceptionally valuable within its peer group, likely due to its large size, modern build year, and specific location.
2. What does the "below average" ranking for Year Built on Hugo Street mean?
On Hugo Street specifically, a 2013 build ranks lower because that street appears to have many very new constructions. However, compared to the entire Earl Grey neighbourhood and city-wide, a 2013 build is well above average, meaning the home is modern relative to most of Winnipeg.
3. Is the large living area typical for a condo in this area?
No. The living area is 1,466 sqft, which is significantly larger than the local averages (874 sqft on its street, 787 sqft in Earl Grey). This unusual spaciousness is one of the property's defining features.
4. How should I interpret the two recent sale prices?
The property sold for $46.5k in August 2024 and for $430k in November 2020. The 2024 sale price is likely a data anomaly or reflects a non-arms-length transaction, while the 2020 price is a more reliable indicator of its market value. Always consult a real estate professional for current valuation.
5. Who would this property suit best?
Given its spacious layout and condo format, it is ideally suited for buyers who want the space of a house but prefer the low-maintenance lifestyle of a condo, such as empty-nesters, small families, or buyers seeking a premium, turn-key property in Earl Grey.