476 Hampton Street

Property Summary: 476 Hampton Street, Winnipeg

Key Characteristics & Appeal

This one-storey home on Hampton Street in the King Edward neighbourhood presents a practical and value-oriented opportunity. Its key appeal lies in a combination of a renovated basement, a detached garage, and a land area that is notably larger than many local comparables. With 900 sqft of living space, the home is comfortably sized for the area, though it sits below the city-wide average, suggesting a more efficient, manageable footprint.

The data reveals a nuanced position: while the home's living area is average for its immediate street and neighbourhood, its assessed value ranks consistently above average in those same local contexts. This indicates it may be perceived as offering good value within King Edward. The lot size of 4,652 sqft is a standout feature, offering above-average outdoor space for the area—a significant asset for gardening, recreation, or future expansion. Built in 1959, the home is newer than many in the immediate vicinity, which can be advantageous for certain mechanical systems or overall structure.

This property would suit first-time buyers or downsizers seeking a solid, no-frills home in a central Winnipeg neighbourhood without a premium price tag. It’s also a candidate for a long-term holder who values the potential of a larger lot over a larger house. The renovated basement adds immediate functional living space, making it move-in ready for those needing a suite or family room.

Frequently Asked Questions

1. How does the assessed value compare to the recent sale price?
The home was sold in October 2023 for an estimated $24.5k to $27.5k, which is below its current assessed value of $29.4k. This discrepancy is worth investigating, as it could relate to the specifics of that sale or subsequent municipal assessment changes.

2. Is the larger lot a common feature in King Edward?
No, the lot size of 4,652 sqft ranks in the top 30% for both the street and the broader King Edward neighbourhood, meaning it is significantly larger than many surrounding properties. This is one of the home's less obvious advantages.

3. What does the "above average" assessed value ranking mean for taxes?
While the assessed value is above average for the local area, it remains well below the city-wide average. This suggests property taxes should be relatively manageable and aligned with the neighbourhood, not the broader city market.

4. The home is described as "one storey." Does it have any upstairs space?
The listing specifies it as a one-storey (or bungalow) style home. All primary living areas are on the main floor, with additional renovated space located in the basement.

5. How does the living area compare to a brand-new home nearby?
For reference, a newly built home on Marjorie Street in the same neighbourhood (2023) has 1,535 sqft of living area. At 900 sqft, this home offers a more compact layout, which translates to lower utility costs and less maintenance, but significantly less interior space.