374 Hampton Street

Property Overview: 374 Hampton Street, Winnipeg

Key Characteristics & Appeal

This is a compact, one-and-a-half storey home built in 1918, offering 850 square feet of living space on a 2,792 sqft lot in the King Edward neighbourhood. Its key characteristics are its modest scale and very low municipal assessed value ($17,300), which places it in the bottom tier of homes locally and citywide for valuation. The basement exists but is unrenovated, and there is no garage or pool.

The appeal lies primarily in its position as an entry-point property. It suits a specific type of buyer: those seeking absolute minimum upfront property tax liability, or investors or handy homeowners looking for a small-scale project with a low financial barrier to entry. Its size and value metrics suggest it is one of the more affordable options in the area. A less obvious perspective is that a home of this age and valuation, while needing updates, often possesses a simpler structural character that can be appealing for a gradual, DIY-friendly restoration. It’s not a home for those needing ample space, but rather for those prioritizing location within a budget or a straightforward investment footprint.

Frequently Asked Questions

1. What does the assessed value tell me about this property?
The assessed value of $17,300 is significantly below averages for the street, neighbourhood, and city. This typically indicates a very modest home, likely in need of updates, and results in lower property taxes. It is a strong indicator of the home’s positioning as a budget-friendly option.

2. How does the living space compare to other homes?
At 850 sqft, the living area is below the average for similar homes on Hampton Street (~1,019 sqft) and Winnipeg overall (~1,342 sqft). This confirms it is a compact home, better suited for individuals, couples, or small families.

3. Is the basement finished?
No. The listing specifies the basement is "not renovated," meaning it is in a raw or utility state and would require investment to become finished living space.

4. What can the sale history tell me?
The home sold in September 2020 for an estimated range of $16,500-$19,500. This historical price is close to its current assessed value, suggesting a stable, low-value market segment. For the exact sale price, you must request the information via email from the source.

5. How does the lot size impact potential?
The lot is 2,792 sqft, which is smaller than many city lots but near the neighbourhood average. It provides a modest outdoor space but may limit possibilities for large additions or detached structures, focusing potential instead on the existing home's renovation.