Property Overview
This 900 sqft, one-storey home at 492 Hampton Street in Winnipeg's King Edward neighbourhood presents a practical and affordable entry point into the city's housing market. Built in 1959, it sits on a notably generous 4,652 sqft lot for the area. Key features include a renovated basement, adding valuable functional space. The home lacks a garage or pool. Its assessed value is significantly below the citywide average, reflecting its modest size and the neighbourhood, but it ranks around or above average for its immediate street and area in terms of lot size, year built, and value.
Section 1: Key Characteristics & Appeal
The primary appeal of this property lies in its balance of a large, usable lot with a low-maintenance, single-level layout. The renovated basement effectively expands the living space beyond the 900 sqft main floor. It is a character home from the late 1950s, newer than many in the immediate vicinity, which may mean fewer concerns about extremely aged infrastructure.
This home would best suit first-time buyers, downsizers, or practical investors seeking an affordable footprint with room to grow outdoors. It’s for someone who values yard space over square footage and is comfortable with a home that requires personalization. The lack of a garage and a living area below the city average makes it less suitable for those needing significant indoor storage or ample room for a growing family. Its strength is as a solid, no-frills foundation in a mature neighbourhood.
Section 2: Frequently Asked Questions
1. Why is the assessed value so much lower than the citywide average?
The assessed value is based on the property's characteristics and local market. While the lot is large for the area, the home's modest size and the neighbourhood's overall affordability result in a value that is typical for King Edward but well below the average for all Winnipeg properties, which includes newer, larger homes in more expensive areas.
2. What does "renovated basement" likely include?
While specifics aren't listed, a renovated basement in a home of this era typically means it has been finished into a livable space, possibly with a recreation room, bedroom, or laundry area. It implies basic amenities like proper walls, flooring, and ceiling, but inquiries should be made about the quality, permits, and moisture control.
3. How does the lot size compare?
At 4,652 sqft, the lot is significantly larger than the average for both Hampton Street and the King Edward area. This is a standout feature, offering more outdoor space for gardening, entertaining, or future additions like a shed or deck than is common for nearby homes.
4. What can the 2019 sale price range tell me?
The previous sale in the $23.5k-$26.5k range provides a historical benchmark. It indicates the property has been an affordable option for some time. The current assessed value of $28.3k suggests a modest increase in valuation since then, in line with market trends.
5. Who would this property not suit?
Buyers looking for a move-in-ready home with modern finishes and ample built-in storage may find it lacking. The absence of a garage and the single-storey layout with a basement may not suit those with mobility issues if the basement is not fully accessible. It's also less ideal for anyone prioritizing a modern, open-concept floor plan.