Property Overview & Key Characteristics
This one-and-three-quarter storey home on Hampton Street, built in 1918, presents a practical opportunity in Winnipeg's King Edward neighbourhood. Its primary appeal lies in its balance of modest scale and relative value. At 1,130 square feet, the living space is notably above average for both the immediate street and the broader neighbourhood, offering more room than many comparable homes. A key feature is the renovated basement, which adds functional living space.
The home’s assessed value is significantly below both the city-wide average and the averages for King Edward and Hampton Street itself. This discrepancy suggests a potential value proposition for a buyer comfortable with a home from the 1910s, as it may allow for investment in updates while maintaining a lower entry point. The lot size, while below the city average, is consistent with the neighbourhood.
This property would suit a first-time buyer, an investor, or a downsizer seeking a character home with established roots in a central community. It’s for someone who prioritizes functional interior space over a large yard and sees potential in a home with a recently updated basement but likely requires general maintenance or modernization consistent with its age.
Frequently Asked Questions
1. Why is the assessed value so much lower than nearby averages?
While the home's living area is above average for the area, the assessed value reflects other factors, including the home's age (1918), its specific condition, and market valuations for similar vintage properties. A below-average assessment can indicate a different property tax burden compared to newer homes on the same street.
2. What does "one-and-three-quarter storey" mean for the layout?
This style typically features a main floor and a second floor where the roofline slopes into the walls, creating some rooms with sloped ceilings or reduced headspace. It offers more character and potentially more space than a bungalow, but the upper-floor layout may feel cozier than a full two-storey home.
3. The basement is noted as renovated. What should I ask about this?
It's important to inquire about the scope, quality, and permits for the renovation. Also, ask about the basement's primary function (living space, utility, storage) and, crucially, its history with moisture or flooding, as this is a key consideration for homes of this era.
4. How does the lack of a garage affect daily living and resale?
On-street parking is the norm here. This suits many buyers in urban neighbourhoods but is a consideration for those with multiple vehicles or who prioritize private, covered parking. It can also be a factor for future resale to buyers with similar preferences.
5. The home is over 100 years old. What are the less obvious considerations?
Beyond expected maintenance, consider the efficiency and condition of major systems (plumbing, electrical, heating), which may have been updated at various times. Also, older homes like this often have solid construction and charm but may lack modern open-concept layouts, which is a trade-off for some buyers.