Property Summary: 768 Buckingham Road, Winnipeg
Key Characteristics & Appeal
This property is a well-established, spacious family home situated on a large, mature lot in the Eric Coy neighborhood. Built in 1972, it is a bi-level with a finished basement, offering a practical and flexible layout. Its standout feature is the exceptionally large lot of over 12,700 square feet, which provides significant outdoor space for recreation, gardening, or future expansion, a rarity in the city. The home ranks in the top 3% of all Winnipeg properties for lot size, highlighting its unique offering of land and privacy.
The appeal here is grounded in space and value. While the living space is modest at just over 1,000 square feet, the finished basement and the massive lot dramatically expand its usable footprint. It suits buyers looking for a solid, no-frills home where the land is the primary asset—perfect for families who prioritize a big backyard over a large interior, or for value-conscious purchasers who see potential in the generous lot size for long-term enjoyment or investment. The property’s high city-wide ranking for lot size (top 3%) paired with a mid-range assessed value suggests you are paying for land, not luxury finishes. It’s a home for those who appreciate established communities, room to breathe, and see the inherent value in a property where the land itself is the star.
Frequently Asked Questions
1. What does the "bi-level" style mean for daily living?
A bi-level home typically has an entryway set between two main living levels. You walk in onto a landing, with stairs leading up to the main living areas (kitchen, living room) and down to lower-level rooms (often bedrooms, family space). It offers good separation of space but involves frequent use of stairs.
2. The lot is huge. Are there any restrictions on how it can be used?
While the lot size offers great potential, any significant changes like building an addition, a large shed, or a pool would require checking with the city for zoning bylaws, setback requirements, and necessary permits.
3. The home ranks very low for living area size in its immediate area. Should I be concerned?
This indicates the surrounding homes may be larger in interior square footage. It underscores that this property’s value proposition is different: you are trading interior space for an exceptionally large lot. It’s a matter of prioritizing your needs for indoor versus outdoor space.
4. The house was built in 1972. What should I check regarding its age?
A thorough inspection is crucial. Focus on the age and condition of major systems that may be near or past their typical lifespan, including the roof, windows, plumbing, electrical, and the heating system. The finished basement should also be checked for any signs of moisture or foundation issues.
5. The assessment value is lower than many area homes. Is that good?
It can be, as it may correlate with a lower property tax burden. However, it also reflects the municipality's valuation, which considers factors like the home's modest living area. The market sale price is determined by what buyers are willing to pay for the unique lot size and overall package.