Property Overview: 870 Hector Avenue, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home on Hector Avenue in the Ebby-Wentworth neighborhood presents a straightforward opportunity. Built in 1947, it offers 1,000 sqft of living space, which is typical for the immediate area, and sits on a 5,000 sqft lot. The home features a detached garage.
Its primary appeal lies in its land value and location-specific context. While the assessed value is notably below average for the street and city, the lot size is a standout feature within Ebby-Wentworth, ranking in the top 4% of the neighborhood. This suggests potential for the lot itself, whether for gardening, expansion, or future redevelopment, is a key asset. The home last sold in 2017 for $190,000.
This property would best suit a practical buyer who sees value in the underlying land and is comfortable with a home that requires updates. It’s a candidate for a first-time homeowner willing to renovate over time, an investor looking for a lot with an existing income-producing structure, or someone seeking a manageable footprint in a central Winnipeg neighborhood without paying a premium for the building itself.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than nearby homes?
The assessed value is based on the property's state as of a prior valuation date. A value significantly below area averages often reflects the age and condition of the home itself, indicating that the land constitutes a substantial portion of the total value.
2. How does the lot size compare to others?
At 5,000 sqft, the lot is larger than most in the Ebby-Wentworth neighborhood (ranking in the top 4%), but is closer to the average when compared just to Hector Avenue or city-wide. This is one of the property's strongest attributes within its local context.
3. What does the "one-and-a-half storey" design mean?
This typically indicates a home with a main floor and a second floor under a sloped roof, where the upstairs rooms may have partially sloped ceilings. It's a common, efficient design for homes of this era.
4. Is this a fixer-upper?
Given its 1947 build date and below-average assessed value relative to the building's size, it is very likely that the home requires modernization and maintenance. Prospective buyers should budget for updates.
5. What can the sale history tell me?
The property last sold in September 2017 for $190,000. This provides a historical price point, but market conditions and the property's condition have likely changed since then. It's a useful data point for understanding longer-term trends.