Property Overview: 264 Hatcher Road, Mission Gardens, Winnipeg
Section 1: Key Characteristics & Appeal
This 872 sqft bungalow, built in 1975, presents a specific and practical value proposition. Its key characteristic is a notably low municipal assessed value ($25,100), which places it in the bottom 1% of its immediate street. This suggests a potentially lower property tax burden, a significant ongoing cost savings for an owner. The home sits on a modest, manageable lot just under 3,000 sqft, reducing exterior maintenance. While its living space is below the area average, it represents a compact and efficient layout.
The primary appeal lies in its position as an accessible entry point into the Mission Gardens neighborhood. It suits first-time buyers or pragmatic investors seeking to build equity in a established area without a high initial tax assessment. It may also attract downsizers looking to minimize both space and annual property tax obligations. A less obvious perspective is that a home with such a low assessment relative to its street could represent a "blank canvas" opportunity; any meaningful updates or additions might disproportionately increase its value from a low base, assuming the assessment adjusts accordingly over time.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the homes around it?
Municipal assessments are based on a mass appraisal system considering factors like size, age, condition, and recent sales. This assessment suggests the city’s valuation model views this property as having a lower market value than most on its street, potentially due to its smaller size, lot, or specific condition.
2. What does the sold price history indicate?
Public records show it last sold between $200,000 and $250,000 in 2021. This indicates the market price was significantly higher than the current assessed value, which is common. For the exact sale price, you can request it via email from the listing source.
3. Is the smaller lot size a major drawback?
It depends on your priorities. The lot is smaller than most in the area, which limits expansive outdoor space but also reduces yard work and maintenance. It’s a practical fit for those who prefer low-maintenance living.
4. How does the living area compare for the neighborhood?
At 872 sqft, the home is smaller than the average for Mission Gardens (approx. 1,162 sqft). It is a compact bungalow, best suited for individuals, couples, or small families who prioritize efficient use of space over square footage.
5. Where can I see more context about this specific location?
You can open the provided neighbourhood analysis page to see this property on a map alongside nearby homes, comparing details like year built, lot size, and assessed value directly with its immediate neighbors.