This well-established, single-storey home in Winnipeg’s Eric Coy neighborhood presents a compelling opportunity defined by its generous lot and solid foundation. Built in 1976, the property sits on a notably large, approximately 13,355 sqft lot, ranking it among the top 3% for land size in the entire city. The 1,480 sqft home features a finished basement and a detached garage. Its city assessment value of $511,000 places it well above average for Winnipeg, indicating strong underlying value. The appeal here is less about flashy updates and more about space, stability, and long-term potential. It would particularly suit buyers looking for a manageable single-level layout with ample outdoor space for gardening, recreation, or future expansion, as well as value-driven investors or families attracted by the lot size and the established, quiet character of the area.
-
Given the age of the home, what should I budget for immediate or near-future updates?
With the home being 50 years old, prospective buyers should prioritize a thorough inspection. While systems may be functional, planning for updates to major components like the roof, windows, or furnace is prudent. The finished basement also warrants a careful check for moisture management.
-
How does the large lot size impact my costs and responsibilities?
The nearly one-third-acre lot offers great privacy and space but also means higher property taxes relative to smaller lots and more yard maintenance. It’s a significant asset, but one that comes with ongoing time and cost commitments.
-
What is the neighborhood’s character and who lives here?
Eric Coy is a mature, established community. The rankings show the home’s lot size is exceptional, but its living area and age are more typical for the area, suggesting a neighborhood of modest, well-kept homes. It likely attracts long-term residents and families seeking stability.
-
Why is the assessed value significantly higher than many Winnipeg homes?
The assessment reflects the city’s valuation of the property, heavily influenced by the extremely large lot size. This suggests the land itself is a major driver of value, which can be a positive for equity but also means property taxes are calculated on this higher value.
-
Is this a good candidate for a renovation or addition?
The large lot and single-storey design could provide an excellent canvas for a significant renovation or lateral addition, subject to zoning bylaws. For a buyer willing to invest in modernization, the property offers a rare combination of space and structural foundation to build upon.