Property Overview: 345 Hampton Street, Winnipeg
Key Characteristics & Appeal
This one-and-a-half storey home in King Edward presents a compelling mix of classic charm and practical value. Its key characteristic is an unusually large lot—approximately 6,600 sqft—which ranks in the top 4% of the neighbourhood. This offers significant outdoor space, a rarity in the area, and provides ample room for gardening, recreation, or future expansion. The home itself, built in 1949, is of average size for the local area at 931 sqft and features a renovated basement and a detached garage.
The primary appeal lies in this land-to-building ratio. While the house is comfortable, the true value is in the property's potential. It suits a buyer who sees beyond the current footprint, whether that's a first-time homeowner wanting a generous yard, an investor recognizing the value of the land, or a long-term planner envisioning additions or redevelopment. It’s a property where the land is the standout asset, offering a sense of space and possibility that is hard to find within city neighbourhoods.
Frequently Asked Questions
1. How does the assessed value compare to recent sale prices?
The home was last sold in December 2023 for an estimated $26.5k to $29.5k, which aligns closely with its current assessed value of $28.40k. This suggests a stable and transparent valuation in the local market.
2. Is the living space sufficient for a growing family?
At 931 sqft, the living area is typical for King Edward but below the Winnipeg city average. It may suit a small family, a couple, or a single buyer comfortably. The renovated basement provides additional flexible space, but the larger lot is a key feature that compensates by offering expansive outdoor living potential.
3. What does the "Elite" ranking for land area actually mean?
This statistic means the lot size is in the top 4% of all properties in the King Edward neighbourhood. Simply put, very few homes in the immediate area offer this much land, making it a distinguishing and valuable feature.
4. What are the implications of a 1949 build date?
Built 77 years ago, the home is older than the city average. This typically means character and established neighbourhoods, but it also warrants a thorough inspection to understand the condition of major aging components like the roof, plumbing, and wiring, even with a renovated basement.
5. How does this property fit within the wider Winnipeg market?
Citywide, this home sits below average for living space and assessed value, but above average for lot size. This profile indicates it represents a more affordable entry point into the market, with its value heavily anchored in its land rather than its structure, which is an important consideration for financing and future value.