Property Overview: 412 Hampton Street, Winnipeg
Key Characteristics & Appeal
This one-storey home on Hampton Street in King Edward presents a compelling mix of established neighbourhood character and standout financial metrics. Built in 1961, it is a newer construction compared to many homes on its street and in the area. With 942 sqft of living space and a 3,720 sqft lot, its size is very typical for King Edward. A key feature is the renovated basement, adding functional living space. The home includes a detached garage.
Its primary appeal lies in its exceptional assessed value profile. With an assessment of $40,600, it ranks in the top 1% on its street and top 4% in the King Edward neighbourhood, indicating it is considered a high-value property relative to its immediate peers. This suggests potential for strong equity positioning. Recent sale data shows it sold in late 2024.
This property would suit a practical buyer looking for a solid, move-in-ready home in a mature neighbourhood without the maintenance concerns of a century-old house. It’s also well-suited for value-focused buyers who appreciate the financial upside of owning one of the most highly assessed properties on the block, which can be advantageous for borrowing power and long-term investment. The renovated basement and detached garage add functional appeal for small families, couples, or downsizers.
Frequently Asked Questions
1. How does the assessed value compare to the recent sale price?
The home sold for between $33.5k and $36.5k in December 2024, which is below its $40,600 assessed value. This difference can be due to market conditions at the time of sale and is a point for discussion with a real estate professional regarding current valuation.
2. Is the living space sufficient for a family?
At 942 sqft (plus a renovated basement), the living area is slightly below the neighbourhood average for comparable homes. It would be cozy for a family but could work well for a small family, couple, or individual, especially with the additional basement space.
3. What does the "Elite" assessed value ranking mean for me?
Ranking in the top 1-4% for assessed value on your street and in King Edward generally means the municipal property assessment is significantly higher than nearby homes. This often reflects updates, lot desirability, or condition. It can be a positive for home equity lines of credit, but it's wise to confirm this assessment aligns with current market appraisals.
4. How does the 1961 build year affect the home?
Built in 1961, this home is newer than many in King Edward, potentially meaning fewer issues with extremely aged plumbing, wiring, or foundations common in early 1900s homes. However, it is still over 60 years old, so a thorough inspection of its major systems and roof is essential.
5. Are the lot size and detached garage advantages?
The lot size is standard for the area, offering typical backyard space. The detached garage provides secure storage or workshop space but means dealing with snow removal on a separate path in winter—a small trade-off for the flexibility it offers.