Property Overview: 291 Hampton Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home in King Edward presents a classic Winnipeg character property with a distinct value proposition. Its key appeal lies in a significant, above-average land parcel of over 6,470 sqft—a standout feature that ranks in the top 5% of lots in the neighbourhood. This offers rare potential for gardening, expansion, or future development, subject to zoning. The house itself, at 935 sqft with an unrenovated basement and a detached garage, is modestly sized but sits on a premium lot.
The home suits practical buyers looking for a foothold in a central area, prioritizing land size over immediate move-in condition. It’s an ideal candidate for an owner-investor who values long-term land value and is comfortable with a project, whether that’s gradual updates, a future addition, or holding the asset. The assessed value is notably below both the neighbourhood and city averages, suggesting a lower entry point, but buyers should be prepared for the realities of a 1914-built home. Its charm is rooted in potential and space, not in modern finishes or square footage.
Section 2: Frequently Asked Questions
1. What is the true condition of the basement?
The listing specifies the basement is "not renovated." Prospective buyers should budget for potential moisture management, foundational updates, or finishing work, which is common for homes of this era.
2. How does the large lot impact value and utility?
The lot is substantially larger than most in the area. This increases the property's valuation based on land value and offers flexibility not found in newer infill properties, but it may also come with higher maintenance responsibilities or specific zoning restrictions on its use.
3. Is the assessed value a reliable guide for the selling price?
Not directly. The assessed value of $22.7k is for municipal tax purposes. The recent sold price range (July 2024) of $23.5k–$26.5k is a more current market indicator, but the final price will depend on market conditions, the home's condition, and the premium for the large lot.
4. What should I consider about the home's age?
Built in 1914, the home is older than 88% of those on its street. This can mean charming original features, but also necessitates thorough inspections for wiring, plumbing, insulation, and the roof. Renovation plans should account for potential unforeseen issues common in century-old structures.
5. Who are the most likely competing buyers?
Given the profile, competition may come from first-time buyers seeking a lower-priced home with future potential, investors interested in the land value for long-term holding or redevelopment, and hands-on owners who see the large yard as a primary asset for family or hobbies.