Property Overview: 215 Hampton Street, Winnipeg
Key Characteristics & Appeal
This one-storey home on Hampton Street is defined by a compelling contrast: a modest, renovated house on an exceptionally large lot. Built in 1926, the 757 sqft living space is compact, ranking below average for size both locally and city-wide. However, its true standout feature is the land. The 6,737 sqft lot is in the top 3% of the King Edward neighbourhood and top 6% on its own street, offering a rare amount of private outdoor space that is uncommon in the city core.
The home’s appeal lies in this potential. The renovated basement adds functional living space, and the detached garage provides utility. With an assessed value that is average for its immediate area, it presents an opportunity centred on the land itself rather than the existing footprint. It would suit a practical buyer looking for a solid starter home with immense yard potential for gardens, recreation, or future expansion, or an investor who recognizes the long-term value of a large lot in an established neighbourhood. It’s a property for those who see the foundation and the space around it as the primary assets.
Frequently Asked Questions
1. Is the house in good condition?
The listing notes a renovated basement, suggesting updates have been made. As with any home nearing 100 years old, a thorough inspection is essential to understand the condition of major systems, the foundation, and the scope of the main-floor renovation.
2. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the local market in the King Edward area and is consistent with similar homes on the same street. The dramatically higher city-wide average is skewed by newer, larger homes in different suburbs; this assessment is based on direct neighbourhood comparisons.
3. What can I do with such a large lot?
The lot size is the property's most significant feature. It allows for possibilities rarely found centrally, such as extensive gardening, adding a substantial deck or patio, creating play or entertainment areas, or even planning for a future addition (subject to zoning and permit approvals).
4. How does the recent sale price compare to the assessment?
The home sold in late 2024 for between $235k and $265k. This sale price range aligns closely with its $253k assessed value, indicating the assessment is current and the market is stable for well-priced homes in the area.
5. What is the King Edward neighbourhood like?
King Edward is a mature, established neighbourhood near the city centre. It typically offers more affordable entry into homeownership with character homes, larger lots, and convenient access to downtown. The trade-off can be older infrastructure and homes that may require updates.