Property Overview: 704 Coventry Road, Winnipeg
Key Characteristics, Appeal & Ideal Buyer
This property is defined by its substantial, mature lot of nearly half an acre (19,005 sqft), a rare find within Winnipeg that places it in the top 2% of the city for land size. The home itself is a 1961-built, 1,020 sqft bungalow with a finished basement and a detached garage. Its primary appeal lies in the exceptional outdoor space and long-term value of the land itself, offering privacy and potential not available in newer subdivisions. While the house is modest in size and typical of its era, it presents a solid foundation.
The property would best suit a buyer with a vision for the land or a willingness to update the home over time. This could be a family seeking space for children and gardens, a long-term investor valuing land appreciation, or a purchaser looking for a "blank canvas" property where the true asset is the ground it sits on. It’s a practical choice for those prioritizing lot size and location within a established neighborhood over move-in-ready modern finishes.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in Eric Coy, and across all of Winnipeg. For example, being in the top 2% city-wide for lot size is a significant advantage, while the home's living area and age are more typical for the area, indicating the value is heavily weighted toward the land.
2. Is the house in need of major updates?
Built in 1961, the home likely requires modernization to suit contemporary tastes. Buyers should budget for updates to systems, kitchens, and bathrooms. The finished basement adds liveable space but may also reflect the style of its finishing period.
3. What are the possibilities for the large lot?
The vast lot offers multiple opportunities: extensive gardening, adding recreational structures like a shed or workshop, or simply enjoying expansive private outdoor space. It's wise to check local zoning bylaws for any restrictions on additions or new structures.
4. How does the assessed value relate to the asking price?
The city's assessed value for taxation purposes is $397,000. Market conditions, property demand, and the unique lot size will influence the final sale price, which may differ from this assessment.
5. What is the neighbourhood like?
Eric Coy is an established, mature neighbourhood. The high lot-size ranking suggests a mix of larger, older properties, offering a more secluded feel than newer, densely packed areas. Prospective buyers should visit at different times to gauge traffic and community atmosphere.