Property Overview: 520 Buckingham Road
Key Characteristics & Appeal
This is a classic, well-situated one-storey home built in 1960, offering a rare combination of space and privacy within the city. Its most defining feature is the exceptionally large, approximately 19,000 sqft lot, which places it in the top 2% of all properties in Winnipeg for land size. This provides immense outdoor potential for gardening, recreation, or future expansion. The home itself is a practical 1,152 sqft bungalow with a finished basement and a detached garage.
The appeal lies in its established, quiet setting and the premium of land value. It suits buyers looking for a solid, no-frills home where the true asset is the property itself—ideal for those who value privacy, outdoor space over interior square footage, or see long-term value in a sizable, developable lot. It would also resonate with downsizers seeking single-level living in a non-condo setting with room for hobbies or family gatherings outdoors. A less obvious perspective is that, while the house ranks average or below in its immediate area for size and age, its city-wide land ranking is exceptional, suggesting its greatest potential is unlocked by a buyer who envisions possibilities beyond the existing structure.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in the Eric Coy neighbourhood, and across all of Winnipeg. For example, being in the top 2% city-wide for lot size is a significant advantage, while the home's age and living area are more common locally.
2. Is the large lot usable, or is it challenging to maintain?
The nearly half-acre lot offers great potential but requires consideration. It provides ample space for additions like a workshop or extensive gardens, but maintenance (lawn care, landscaping) will be more demanding and potentially costly than a standard city lot.
3. Who might this property not suit?
It may not suit buyers seeking a modern, move-in-ready home with recent updates, or those who prefer a low-maintenance yard. The home's interior size is modest relative to the land, so buyers prioritizing large, updated living spaces may find it lacking.
4. How does the assessed value relate to the asking price?
The municipal assessment is $424,000, which provides a baseline for taxation. The listing price is set by the seller and reflects current market conditions, perceived land value, and home features, so it will often differ from the assessed value.
5. What are the implications of a detached garage?
A detached garage offers flexibility for use as a workshop or project space without affecting the main house. However, it means accessing your vehicle requires going outside, which can be a consideration during Winnipeg winters compared to an attached garage.