Property Overview & Appeal
This property is defined by its exceptionally large, half-acre lot in the Eric Coy neighborhood, which places it in the top 1% of all Winnipeg homes for land size. The single-story home itself is a comfortable 1,516 sqft with a finished basement, built in 1969. Its primary appeal is the rare combination of a massive, private yard within the city—a blank canvas for gardening, recreation, or future expansion—coupled with the practicality of an attached garage and established community. The home’s value is strongly tied to its land, as the lot size ranks significantly higher than the home's interior living area relative to other properties.
It would suit buyers prioritizing outdoor space over a brand-new build, such as families seeking room for children and pets to play, or hobbyists wanting space for gardens or workshops. It also appeals to those looking for a property with long-term potential where the land itself is a primary asset. A thoughtful perspective is that while the house is from the late 60s, its consistent recent sale prices just below the current assessed value suggest a stable market perception, indicating it’s seen as a solid property rather than a fixer-upper or a speculative tear-down.
Key Questions for Consideration
1. What does the "finished basement" include?
The listing notes a finished basement but not the extent. It's important to clarify the quality, ceiling height, legal egress, and whether it includes a separate entrance or additional bedrooms.
2. How is the property zoned, and what are the rules for the large lot?
With over 23,000 sqft, understanding the R1 zoning and any applicable bylaws is crucial for anyone considering adding a structure like a large shed, garage, or even a future subdivision.
3. What are the annual property taxes?
The assessment is $510,000. Prospective buyers should request the current year's tax amount to accurately budget for carrying costs.
4. Why is the land value ranking so much higher than the home's?
The lot is in the 99th percentile for size in Winnipeg, while the living area is in the 73rd. This indicates the premium is for the land itself, and the house may be modest relative to the property's scale—a key point for valuation.
5. Has the home had major system updates?
Given its age, the condition and age of the roof, windows, plumbing, electrical, and heating systems are important factors that will influence immediate and future investment.