Property Overview: 31 McDowell Drive, Winnipeg
Key Characteristics & Appeal
This is a well-maintained, single-storey home in the Eric Coy neighbourhood, built in 1975. Its primary appeal lies in its generous, mature lot of nearly 7,900 sqft—a significant size that ranks in the top 12% of all properties in Winnipeg. The home itself offers 1,309 sqft of living space with a finished basement and an attached garage. While the house’s age and interior size are fairly typical for the immediate area, the property stands out for its land value and established setting.
The home would suit practical buyers looking for space and stability over modern finishes. It’s ideal for first-time buyers or downsizers who want a manageable single-level layout without sacrificing outdoor space for gardening, play, or quiet enjoyment. The strong city-wide ranking for lot size suggests a solid long-term investment in the land itself, appealing to those who see value in potential future development or simply in owning a larger piece of a mature community.
Frequently Asked Questions
1. How does the 2021 sale price compare to the current assessment?
The home sold for $520,000 in November 2021. The current total assessed value is $468,000. It’s important to consult with a real estate professional to understand current market conditions and how assessment values relate to potential listing prices.
2. What does the ranking data actually tell me?
The rankings compare this property to others on its street, in Eric Coy, and across all of Winnipeg. For example, its lot size ranks in the top 12% city-wide, which is a notable strength. Its living area size is more average locally but still ranks above median for Winnipeg overall. This data helps identify where the property’s strengths lie relative to the market.
3. Is the basement a legal suite?
The listing states the basement is finished but does not specify if it is a legal, rentable suite. This is a crucial point to verify with the seller and the local municipality if secondary income is a priority.
4. What are the advantages of a 1970s-built home?
Homes from this era often feature simpler, robust construction and practical floor plans. The mature lot with established trees is a direct benefit of the home’s age. Buyers should budget for updates to aging components like windows, roof, or major systems, which are common for a home of this vintage.
5. How does the property balance value between the house and the land?
The data suggests a significant portion of the property’s value is in the land. The lot size is exceptionally high-ranking, while the house’s size and age rankings are more modest. This indicates a property where the land is a key asset, which can be attractive for its future potential or simply for enjoying more private outdoor space than is commonly available.