Property Summary: 582 Dieppe Road, Winnipeg
Key Characteristics & Buyer Appeal
This property is defined by a compelling contrast. The 1,053 sqft, one-storey bungalow, built in 1963, offers a modest and functional living space with a finished basement. Its primary appeal lies not in the house itself, but in the extraordinary, nearly one-acre (44,604 sqft) lot it occupies within the Eric Coy neighbourhood. This lot size is exceptionally rare for the area, placing it in the top 1% of all properties in Winnipeg. The appeal is for a buyer with vision—someone who values immense outdoor space, privacy, and long-term potential over immediate move-in luxury. It perfectly suits an owner-builder looking to eventually replace or significantly expand the existing home, a multi-generational family planning a future compound, or an outdoor enthusiast seeking a private urban oasis for gardens, recreation, or hobbies. While the home ranks average or below in metrics like age and living area for its community, the land is its undeniable and dominant asset, offering a blank canvas that is almost impossible to find elsewhere in the city.
Frequently Asked Questions
1. What is the true value proposition here?
The value is almost entirely in the land. You are purchasing a rare, large parcel in a developed city neighbourhood. The existing house provides usable living space while you plan for the future.
2. Is the lot usable as-is, or are there restrictions?
While the lot is massive, prospective buyers must verify zoning (R1) with the city to understand permissible uses, building setbacks, and any potential easements or environmental considerations that might affect buildable areas.
3. The house is older; what should I budget for immediate updates?
Given the age (1963), a thorough inspection is crucial. Budget for potential updates to major systems like roof, plumbing, electrical, and windows to ensure comfort and efficiency while you occupy the existing structure.
4. How does the lack of a garage impact daily living and value?
The absence of a garage is a practical consideration for vehicle storage and workshop space. For the right buyer, this is seen as an opportunity to design and build a new garage or outbuilding as part of their long-term plans for the property.
5. The rankings show the house is below average for the area. Is this a concern?
Not for the target buyer. These rankings confirm that the house itself is not the primary attraction. The investment thesis is that the value of the unparalleled lot size far outweighs the condition of the current dwelling, which is viewed as adaptable or replaceable.