Property Summary: 220 Hampton Street, Winnipeg
Key Characteristics & Buyer Profile
This is a compact, one-and-a-half storey home built in 1928, situated on a smaller lot in Winnipeg's King Edward neighbourhood. Its key features include a renovated basement and a detached garage. With 980 square feet of living space, it is very typical for its immediate street and area, offering a manageable footprint. The home’s assessed value is also squarely average for the local market, suggesting it is priced in line with neighbourhood norms rather than standing out as a premium or fixer-upper opportunity.
The appeal lies in its practicality and location. It represents a straightforward entry point into homeownership, likely requiring less maintenance and lower utility costs than a larger property. The renovated basement adds valuable functional space. It would best suit first-time buyers, downsizers, or pragmatic investors seeking a stable, no-surprises property in an established area. A less obvious perspective is that its very "averageness" in the local context can be a strength—it’s a known quantity in the market, which can simplify both the purchase decision and future resale.
Frequently Asked Questions
1. How does the lot size impact this property?
The land area is notably smaller than most in the city and even below average for the local area. This means lower exterior maintenance but also limited potential for expansions or large outdoor amenities.
2. What does the sold price history indicate?
The home sold in 2016 and again in 2021. The price increase between those sales aligns with broader market trends, showing steady, unexceptional appreciation. This history supports its profile as a stable, mainstream property.
3. Is the assessed value a reliable guide for the selling price?
In this case, likely yes. The assessed value is average for the street and area, meaning the property isn't an outlier. It provides a solid benchmark, though final sale price will always depend on current market conditions.
4. Who might this home not suit?
Buyers seeking a large yard, extensive space for growing a family, or a project home with significant "sweat equity" potential may find the compact lot and average-condition profile too limiting.
5. What is the significance of the "renovated basement"?
While a positive, it's important to clarify the scope. A renovation can range from cosmetic updates to full legal suite development. This added living space is a functional benefit, but specifics on permits and finish quality should be verified.