Property Overview: 263 Hampton Street, Winnipeg

Key Characteristics & Appeal

This one-storey home on Hampton Street presents a practical opportunity in Winnipeg's King Edward neighbourhood. Its key appeal lies in being a well-situated, modernized property that stands out within its immediate context. Built in 1989, it is notably newer than most homes on its street and in the wider area, suggesting potentially fewer concerns with aging infrastructure. The living space (926 sqft) is average for the local area, fitting for a smaller household or first-time buyer. A significant feature is the renovated basement, adding functional space.

The home’s assessed value is above average for both the street and the neighbourhood, which often reflects recent improvements, desirable lot characteristics, or the premium for a newer build in an established area. The lot size is standard locally, offering manageable outdoor space. Recent sale history indicates steady value appreciation.

This property would suit a first-time homebuyer seeking a move-in-ready, low-maintenance home, or an investor looking for a modernized rental in a central location. Its above-average assessment for the area suggests it may appeal to those valuing financial prudence, as it likely represents a higher degree of modernization compared to neighbouring, older homes.

Frequently Asked Questions

1. How does the 1989 build year impact this home compared to others in King Edward?
Most homes in this area were built in the early to mid-1900s. A 1989 construction means major systems (like wiring, plumbing, and insulation) are decades newer, which can translate to greater reliability, better energy efficiency, and lower immediate repair costs than many neighbouring properties.

2. The assessed value is above average for the street. Is this a concern for property taxes?
While a higher assessment can influence taxes, it’s also a strong indicator that the municipality recognizes a higher property value, often due to the home’s condition, renovations, or lot attributes. It’s advisable to research the specific mill rate for the area to estimate the tax implication accurately.

3. What does the "renovated basement" likely include?
The listing specifies a renovated basement but not the details. This typically means the space has been finished into a livable area, such as a rec room, additional bedroom, or laundry area. It’s essential to confirm the work was permitted and the nature of the finishes during a viewing.

4. The home sold in 2021 and again is on the market. Should I be concerned?
A recent sale isn’t inherently a red flag. Life circumstances change quickly. However, it’s a valid point to explore. Reviewing the listing history (was it a quick flip or a several-year ownership?) and asking the seller about their reason for moving can provide helpful context.

5. There’s no garage. What are parking options like?
The property has no garage, which is common for many older Winnipeg neighbourhoods. Parking would be via on-street permit parking or a potential driveway if the lot allows. Checking with the city on street permit availability and observing parking congestion during different times is recommended.