Property Summary: 517 Buckingham Road, Winnipeg
Key Characteristics & Appeal
This is a well-established, single-storey home on an exceptionally large, mature lot in the Eric Coy neighborhood. Built in 1954, the 1,314 sqft residence features a finished basement and sits on nearly half an acre of land (19,044 sqft), a rarity within the city. Its standout characteristic is the sheer size of the property, which ranks in the top 2% of all lots in Winnipeg, offering immense privacy and space for gardens, recreation, or future expansion.
The appeal lies in a unique combination of a modest, manageable home paired with a premium, expansive yard. It suits buyers who prioritize outdoor space and long-term potential over a move-in-ready modern interior. This property is ideal for a growing family seeking room to play and grow, a hobbyist or gardener craving a private oasis, or a value-conscious buyer viewing the land itself as the primary asset with the existing house as a solid foundation. It represents an opportunity to own a parcel of land seldom available in the urban market, with the home itself offering functional living space to build upon.
Frequently Asked Questions
1. What does the ranking data (e.g., "top 2% in Winnipeg") actually mean?
This data compares specific metrics of this property against others in its immediate street, neighborhood, and the entire city. For example, its land size is larger than 98% of all residential lots in Winnipeg, highlighting its extraordinary scale, while the home's age and living area are more typical for its area.
2. Is the large lot a benefit or a burden?
It's a significant benefit for privacy, space, and potential, but it also means greater responsibility. Maintenance (lawn care, snow clearing) will be more demanding and potentially costly than for a standard city lot. The value is for those who will actively use and appreciate the space.
3. What are the implications of a 1954 build date?
Buyers should budget for updates to older mechanical systems, windows, or insulation to improve comfort and efficiency. A thorough inspection is essential. Conversely, homes of this era often feature solid construction and simpler, more adaptable floor plans.
4. There's no garage. How big of an issue is this?
For some buyers, this is a major drawback. However, the vast lot presents a clear opportunity to add a detached garage or workshop, subject to local zoning and permits. The land size turns this missing feature into a potential customization project.
5. Who determines the $443,000 assessed value, and how does it relate to the sale price?
The assessed value is set by the municipal government for property tax purposes. It is a useful benchmark but does not dictate market value. The sale price will be determined by current market conditions, the property's unique appeal (especially the lot), and buyer competition.