Property Overview: 460 Hampton Street, Winnipeg
Key Characteristics & Appeal
This one-storey home on a 4,653 sqft lot in King Edward presents a practical and value-oriented opportunity. Built in 1959, its 948 sqft living area is typical for the immediate area but smaller than the Winnipeg average. A key feature is the renovated basement, adding functional space. The detached garage offers flexibility for parking or storage.
The appeal lies in its strong position within its established neighbourhood. The assessed value ranks well above average for both Hampton Street and the wider King Edward area, suggesting the property is well-regarded in its local context. The recent sale in 2024 at a price significantly higher than the assessed value indicates strong market interest. This home suits first-time buyers seeking an entry into a mature neighbourhood, or practical-minded investors or downsizers looking for a manageable footprint without sacrificing yard space. It’s a home that makes more sense when evaluated against its direct neighbours rather than city-wide averages.
Frequently Asked Questions
How does the living space compare to nearby homes?
At 948 sqft, it is slightly below the average for Hampton Street (~1,019 sqft) but very close to the average for the King Edward neighbourhood (~952 sqft). It offers a compact, efficient layout.
Why is the assessed value different from the recent sold price?
The assessed value ($30.20k) is for municipal tax purposes. The sold price range ($37.50k - $40.50k in 2024) reflects the actual market value at the time of sale, which was considerably higher, highlighting strong demand for the property.
What does "renovated basement" typically mean for a home of this era?
For a 1959 home, this usually indicates updated essentials like flooring, lighting, and drywall, potentially creating a livable rec room or utility space. It’s a significant advantage, as unfinished or dated basements are common in similar properties.
Is the lot size a benefit?
Yes. The lot is larger than most on Hampton Street and in King Edward, providing above-average outdoor space for gardens, play, or expansion, which is a valuable asset in an older neighbourhood.
Who might this property not suit?
Buyers needing substantial above-ground square footage or a modern, open-concept layout may find it limiting. It’s best for those who appreciate the character and location of an older area and see potential in the renovated basement and generous lot.