Property Overview: 514 Coventry Road, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This is a well-established, two-storey family home in the Eric Coy neighbourhood, built in 1972. Its key characteristics include a generous 7,911 sqft lot, 1,867 sqft of living space, a finished basement, and an attached garage. The home presents a compelling value proposition based on its space and land size, ranking in the top 13% of Winnipeg for living area and on a lot that surpasses 88% of the city in size. This combination of a spacious interior on a large, private lot is its primary appeal.
The property suits buyers looking for established character, room to grow, and outdoor potential in a mature community. It’s ideal for a family that values interior space and a sizable yard over a brand-new build. A thoughtful perspective is that while the home is over 50 years old, its above-average rankings for size and lot offer a solid foundation; the value here is in the space and land, with the understanding that a home of this age may benefit from updates over time. It represents a classic trade-off: more physical space and a established neighbourhood feel, in exchange for taking on a property that will require ongoing maintenance and potential modernization.
Frequently Asked Questions
1. What do the ranking percentages actually mean?
They show how this property compares to others in its immediate street, wider neighbourhood, and all of Winnipeg. For example, ranking in the “top 13%” for living area in Winnipeg means 87% of homes in the city are smaller. This helps you gauge the home’s relative strengths, like its notably large lot and living space.
2. Is the 1972 build year a concern?
While the home is not new, its core structure has stood for over five decades. The key consideration is the condition and age of major systems (like roof, windows, plumbing, and electrical), which may have been updated over time. A thorough inspection is essential to understand the state of these components.
3. Who is the Eric Coy neighbourhood suited for?
Eric Coy is a mature, established community. It typically appeals to families and long-term residents seeking stability, larger lots, and a quiet, residential atmosphere. It offers a sense of space and permanence sometimes absent in newer subdivisions.
4. What is the significance of such a large lot?
A nearly 8,000 sqft lot provides exceptional outdoor space for gardening, recreation, play, and entertaining. It also offers potential for future expansions like a deck, shed, or even an addition, subject to local bylaws. This is a rare feature in many modern developments.
5. How should I interpret the assessed value?
The municipal assessment of $464,000 is used for calculating property taxes and is not necessarily the market value. It is a data point, but the final sale price will be determined by current market conditions, the home’s specific state, and buyer demand.