Property Overview: 760 Buckingham Road, Winnipeg
Key Characteristics & Appeal
This is a modest, one-storey home built in 1950, sitting on a remarkably large, approximately 12,728 sqft lot in the Eric Coy neighborhood. Its primary appeal lies in the significant land size, which places it in the top 3% of all properties in Winnipeg for lot area, offering exceptional outdoor space and future potential. The home itself is compact at 792 sqft, with a finished basement adding functional living space. While the house ranks lower for its age, size, and assessed value within its immediate area, this presents a clear value proposition: you are purchasing land with a liveable structure. It suits buyers looking for an affordable entry into the market with a "blank canvas" lot for gardening, expansion, or future redevelopment, as well as investors or builders who see value in the land itself. The appeal is less about the current home's features and more about the rare opportunity to secure a large parcel in the city.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property to others on its street, in Eric Coy, and across all of Winnipeg. For example, being in the "top 3%" for lot size city-wide confirms the lot is exceptionally large. Conversely, rankings near the bottom for living area or building age highlight that the existing house is smaller and older than most comparables.
2. Is the land subdividable?
This is a critical question given the lot size. Interested buyers must consult directly with the City of Winnipeg's planning department to investigate subdivision potential, zoning bylaws, and any associated costs or restrictions.
3. What is the condition of the finished basement?
The listing notes a finished basement but provides no details on quality, ceiling height, moisture control, or legal egress. A thorough inspection is essential to determine if it is a dry, comfortable living space or a basic renovation.
4. Why is the assessed value relatively low compared to the opportunity?
The City's assessment typically reflects the current state and size of the dwelling more than speculative land value. The lower assessment relative to the lot size suggests the city sees a significant portion of the property's current value in the land itself.
5. What are the immediate costs or projects to consider?
Given the home's age (76 years), buyers should budget for potential updates to major systems like roofing, plumbing, and electrical. The large lot also implies ongoing maintenance or landscaping costs that are higher than for a standard city plot.