Property Overview: 586 Dieppe Road, Winnipeg
Key Characteristics & Appeal
This is a classic, one-storey home built in 1949, situated on an exceptionally large, half-acre lot (21,777 sqft) in the Eric Coy neighborhood. Its primary appeal lies in the land itself—the property ranks in the top 1% in Winnipeg for lot size, offering rare space and potential in the city. The home is modest, with 768 sqft of living space and a finished basement, presenting itself as a solid, no-frills canvas. There is no garage or pool.
The property suits two distinct types of buyers. First, it's ideal for a value-driven buyer or renovator seeking a large yard for gardens, pets, or family space, who sees the home itself as a project with great equity potential in the land. Second, it could appeal to an investor or builder who recognizes the long-term redevelopment potential of such a sizable parcel in the city. It’s a property where the value is fundamentally in the dirt, not the dated structure, appealing to those with vision over those seeking immediate modern finishes.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property to others on its street, in Eric Coy, and across all of Winnipeg. Key takeaways: its lot size is in the 99th percentile city-wide (extremely large), while the house itself is older and smaller than most comparable properties.
2. Is the house in livable condition?
The listing confirms a finished basement, suggesting basic habitability. However, given its age (77 years), small size, and assessment value rankings, buyers should budget for updates and anticipate the need for a thorough inspection focused on aging systems.
3. What can you do with such a large lot?
Beyond a spacious backyard, a lot of this size offers uncommon flexibility for city living. Potential uses could include adding a large garage or workshop, creating extensive landscaping or gardens, or, subject to zoning, future expansion or redevelopment.
4. Why is the assessed value relatively low compared to the lot size?
The assessment reflects the current state and size of the 768 sqft home. The significant value of the land is somewhat offset by the older, smaller dwelling, resulting in a moderate total assessment. This dynamic often creates opportunity for value growth through improvements.
5. Is there potential to add a garage?
While there is no existing garage, the vast lot size provides ample room to add one. Any buyer should verify setback requirements and obtain proper permits, but the physical space is a major advantage of this property.