Property Overview: 357 Hampton Street, Winnipeg
Section 1: Key Characteristics & Appeal
This one-and-a-half storey home, built in 1949, presents a practical opportunity in Winnipeg's King Edward neighbourhood. Its primary appeal lies in a combination of a renovated basement and a notably generous lot. At over 6,500 square feet, the land area is a standout feature, ranking in the top tier for the local area and offering above-average outdoor space for the city. With 900 square feet of living space, the home is compact but in line with many comparable properties in the immediate vicinity.
The property suits buyers looking for a grounded, value-conscious entry into homeownership, particularly those who prioritize yard space over a large interior footprint. It would also appeal to an investor or handy homeowner who sees potential in the existing structure and the value of the land itself. The recent sale in late 2024 suggests a refreshed market valuation. A thoughtful perspective is that while the home's size is modest city-wide, its lot size offers a relative rarity—a chance for gardening, expansion, or simply more private outdoor room than is typical in this price segment, all within a mature neighbourhood.
Section 2: Frequently Asked Questions
1. How does the assessed value relate to the recent sale price?
The 2024 assessed value is $28.40k, while the home sold for between $34.50k and $37.50k in late 2024. This difference is common, as assessed values for tax purposes often lag behind current market sale prices, which reflect recent buyer demand.
2. Is the living space too small?
At 900 sqft, it is below the Winnipeg city average. However, it is very close to the average for the King Edward neighbourhood (~952 sqft). This indicates the home's size is typical for the area, making it a pragmatic choice for singles, couples, or small families looking specifically in this community.
3. What does the "renovated basement" include?
The listing confirms a renovated basement but does not specify the scope. A prospective buyer should inquire about the nature of the renovation, whether it includes legal egress, moisture control, and the quality of the finishes to understand its true value and functionality.
4. Why is the land area considered a significant feature?
The lot is over 6,500 sqft, placing it in the top 4% of properties in King Edward for lot size. This means you are getting a parcel of land significantly larger than most in the neighbourhood, which can provide more privacy, recreational space, and future potential.
5. What is the context of the home's age and condition?
Built in 1949, the home is older than the city-wide average. While it has a renovated basement, the main structure and systems (like plumbing, electrical, and the roof) are 77 years old. A thorough inspection is recommended to understand the condition and any needed updates or maintenance typical for a home of this era.