Property Overview & Key Characteristics
This is a well-maintained, single-storey home in Winnipeg's Eric Coy neighbourhood, built in 1979. Its primary appeal lies in its generous 6,421 sqft lot and spacious 1,438 sqft living area, which both rank highly within its immediate street and the broader city. The home features an unfinished basement and an attached garage. The property shows a notable strength in its physical size and newer age relative to many local comparables, though its assessed value is more modest in its immediate area. This creates an interesting value proposition—a larger, newer home on a big lot in an established community.
The home would suit a buyer looking for solid space and a sizable yard in a mature neighbourhood, without the premium price tag of a fully renovated or newer build. It’s ideal for someone comfortable with a home that has good bones but may benefit from personal updates over time. The unfinished basement also presents a clear opportunity for future expansion to add significant value.
Frequently Asked Questions
1. What is the neighbourhood like?
Eric Coy is a long-established residential community in Winnipeg. The high lot-size ranking suggests the area features spacious properties, offering more privacy and yard space than newer subdivisions.
2. Is the unfinished basement a drawback?
Not necessarily. While it requires an investment to finish, it provides flexible, blank-canvas space for future recreation, storage, or additional bedrooms. It also means you avoid paying a premium for someone else’s renovation choices.
3. How does the assessment value compare to the likely asking price?
The assessment of $413,000 ranks lower on its street but higher across Winnipeg. This can indicate the property offers good value city-wide, but that values on this specific street may be elevated or that this home is assessed more conservatively—a point for discussion with your realtor.
4. What does the "age ranking" mean for a 47-year-old home?
Ranking newer than most comparable homes means it was built later than many in the area. This can suggest more modern construction standards for its era and potentially less immediate concern for major age-related replacements compared to older peers.
5. What are the main trade-offs with this property?
You are trading move-in-ready, modern finishes for greater square footage and land size at a potentially more accessible price point. It’s a classic "sweat equity" scenario where the value is in the space and lot, with cosmetic updates left to the buyer's preference and timeline.