Property Overview: 280 Hampton Street, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This one-and-a-half storey home, built in 1918, presents a practical opportunity in Winnipeg's King Edward neighbourhood. Its key characteristic is a living space (1,154 sq ft) that is notably above average for both its immediate street and local area, offering more interior room than many comparable homes. This is balanced by a compact, low-maintenance lot (2,384 sq ft) and an unrenovated basement. There is no garage or pool.
The primary appeal lies in its value positioning. The home's assessed value is significantly below both the city average and recent sold price ranges, suggesting potential equity opportunity for the right buyer. It suits a pragmatic first-time homebuyer or an investor comfortable with a property that has older fundamentals. The above-average living area within a modest footprint could also appeal to downsizers seeking single-level living without feeling cramped, provided the basement condition is acceptable. It’s a home that prioritizes interior space over yard size, making it a grounded choice for those focused on essentials and location over premium finishes or amenities.
Frequently Asked Questions
1. What does "one-and-a-half storey" mean for this home?
Typically, this style features a main floor with principal rooms and a second floor under sloped roofs, often creating cozy bedrooms with potentially limited headroom in places. It's a classic Winnipeg design.
2. The assessed value seems very low compared to sold prices. Why?
Municipal assessed values for tax purposes often lag behind market values and use a different valuation method. The recent sold price range (2024) is a more current indicator of its market worth.
3. What are the implications of an "unrenovated" basement?
This usually indicates original or older conditions, which may include limited finishing, older mechanical systems (like plumbing or electrical), and potential moisture or insulation considerations. It represents both a cost-saving on the purchase price and a potential future project.
4. The lot size is noted as below average. How will this affect me?
The smaller yard means less outdoor maintenance, which can be a benefit for busy owners. However, it also limits possibilities for expansions, additions, or extensive landscaping, and offers less private outdoor space.
5. How do the rankings (e.g., "Top 20%") work?
These rankings compare this specific property against similar homes in three groups: on Hampton Street itself, in the wider King Edward area, and city-wide. For example, ranking in the "Top 20%" for living area on its street means 80% of comparable homes on Hampton Street have less living space. It’s a quick way to see the home's relative strengths and weaknesses within different contexts.