Property Overview
This home is defined by its substantial, mature lot and its position in a highly desirable area. The nearly one-third acre property in Eric Coy is its most compelling feature, offering rare space and privacy within the city. The house itself is a classic 1.5-storey design from 1949 with a finished basement, providing functional living space. Its appeal lies in the combination of a prime location and the exceptional potential of the land itself—whether for gardening, expansion, or simply enjoying expansive green space. It suits buyers looking for a character home in a top-tier neighborhood who value land size over modern finishes, and who may see the property as a long-term investment in a fantastic location. A thoughtful perspective is recognizing that while the home's living area is modest relative to the lot, this presents a clear opportunity: the value is significantly anchored in the land, making it a property where future renovations or additions could be strategically justified.
Key Details & FAQs
- Key Characteristics: A 1,494 sqft 1.5-storey home built in 1949, situated on a 13,331 sqft (0.31-acre) lot in the Eric Coy neighborhood. It features a finished basement and no garage. The property ranks in the top 3% in Winnipeg for lot size.
- Appeal & Buyer Suitability: The primary appeal is the exceptionally large, private lot in a sought-after area. It is ideal for buyers seeking space, potential, and location over a turnkey modern home. It would suit families, gardeners, or long-term investors who appreciate character and have a vision for utilizing or enhancing the property over time.
Frequently Asked Questions
1. What is the true standout feature of this property?
The lot size is the unequivocal standout. At over 13,000 square feet, it is significantly larger than most urban lots, placing it in the top 3% of all properties in Winnipeg. This offers unparalleled privacy, space for recreation, and potential for future landscaping or construction.
2. The home was built in 1949. What should I consider?
While the home has been maintained and the basement is finished, a building of this age will likely require updates to mechanical systems (like plumbing or electrical) and insulation over time. A thorough inspection is essential to understand the condition and plan for any modernizations.
3. Is the price reflective of the house or the land?
The recent assessment and sale history suggest the value is heavily influenced by the land. The property offers a solid, livable home, but the premium price point for its square footage is largely due to the lot's size and the prestige of the Eric Coy location.
4. There's no garage. Is adding one feasible?
Given the vast size of the lot, there is ample space to add a garage or a sizable workshop. Any addition would need to comply with local zoning bylaws regarding setbacks and lot coverage, but the physical space is certainly available.
5. Why did the property sell for nearly double its 2020 price in 2021?
The sharp increase reflects strong market appreciation during that period, particularly for desirable neighborhoods with unique features like large lots. It underscores the high demand for properties in this area and the lasting value assigned to substantial land parcels.