Property Overview: 217 Hampton Street, Winnipeg
Key Characteristics & Buyer Appeal
This one-and-a-half storey home, built in 1914, presents a practical opportunity in Winnipeg's King Edward neighbourhood. With 960 sqft of living space and a renovated basement, its size is very typical for the immediate area and offers a manageable footprint. The property sits on a 3,369 sqft lot, which is also standard for the locale. Recent sales data indicates steady value, with the home selling in the $29.5k–$32.5k range in 2023.
The primary appeal lies in its positioning as an affordable, no-frills entry point into the market. It suits buyers seeking a straightforward, low-maintenance base—such as first-time homeowners wanting minimal financial pressure, or investors looking for a stable rental property. A thoughtful perspective is that its very "averageness" for the street and neighbourhood is a strength; it suggests predictable costs and fewer surprises compared to more outlier properties. The renovated basement adds functional space, a valuable asset in a home of this size. It’s a property for those who value practicality and location over modern size or amenities, offering a chance to build equity without a large initial investment.
Frequently Asked Questions
1. What does the "assessed value" mean in this context?
The assessed value (listed as $25.70k) is the city's valuation for property tax purposes. It is typically lower than market value. The recent sold prices in the $30k range are a more accurate reflection of its actual market value.
2. Is the living space too small?
At 960 sqft, it is slightly below the city-wide average but is very much in line with the typical home size in the King Edward neighbourhood. It's a compact layout best suited for individuals, couples, or small families.
3. What are the implications of the home's age (1914)?
While the home has historic character, its age places it among the older homes in the area. Prospective buyers should prioritize a thorough inspection to understand the condition of major systems (like wiring and plumbing) and the roof, and budget for maintenance consistent with a century-old structure.
4. How does not having a garage affect daily living?
The lack of a garage is common for homes of this era in Winnipeg. Buyers should consider on-street parking availability, the cost and feasibility of adding a shed or sheltered parking, and preparedness for winter vehicle maintenance.
5. The sold price history shows a modest increase between 2021 and 2023. What does this indicate?
This suggests stable, gradual appreciation in line with the local market trends for well-priced, entry-level homes. It points to a property that holds its value without dramatic swings, which can be reassuring for buyers seeking a sensible long-term investment.