Property Overview & Key Characteristics
This is a well-situated 4-level split home in the Eric Coy neighbourhood, built in 1961. Its primary appeal lies in its generous 13,590 sqft lot, which is significantly larger than most properties in Winnipeg, offering ample outdoor space and privacy. With 1,528 sqft of living space and an unfinished basement, it provides a solid foundation for customization. The home ranks highly for its lot size and living area within the city, suggesting good value for space. Its character is that of a classic, established property with strong potential, suited for buyers who value a large yard over a modern, turn-key home. It would particularly suit a handy buyer or family looking to put their own stamp on a property over time, or those seeking a long-term investment in land value within the city.
Frequently Asked Questions
1. What are the main advantages of a 4-level split layout?
This design offers good separation of living spaces, often creating distinct zones for living, sleeping, and recreation. It can provide more privacy than an open bungalow but with shorter flights of stairs than a traditional two-storey.
2. The home is 65 years old. What should I prioritize in an inspection?
Given the age, a thorough inspection of major systems is key. Focus on the condition of the roof, foundation, plumbing, and electrical wiring to understand any immediate or upcoming investments needed.
3. The lot is large, but what does that mean for maintenance and potential?
A lot of this size offers fantastic potential for gardens, play areas, or future additions like a deck or workshop. However, it also requires more time and resources for lawn care, landscaping, and snow clearing compared to a standard city lot.
4. The assessment value is lower than the asking price. Why is that?
Municipal assessments are for tax purposes and often lag behind the current market. The sale price is determined by what buyers are willing to pay in today's market, which can be influenced by factors like the desirable lot size and recent comparable sales.
5. The basement is unfinished. What are the considerations for developing it?
An unfinished basement is a blank canvas but requires a significant investment. Check for ceiling height, window well sizes for egress, and the condition of the foundation walls. Also, verify if any permits were previously pulled for work down there.