Property Summary: 588 Buckingham Road, Winnipeg
Key Characteristics & Appeal
This is a well-situated, single-storey home built in 1960, offering a rare combination of a very large, private lot within the city. Its primary appeal lies in its exceptional land size of nearly 19,100 sqft, which places it in the top 2% of all properties in Winnipeg for lot size. This provides immense potential for gardening, recreation, expansion, or simply enjoying private outdoor space—a feature increasingly difficult to find. The home itself is modest in size at 1,062 sqft and includes a finished basement and a detached garage.
The property suits two main types of buyers: first, those who value land and privacy above a large or modern house, seeing the existing structure as a comfortable starting point with significant long-term potential. Second, it appeals to value-conscious buyers looking in established neighbourhoods, where the price may be driven more by the land asset than the dwelling. A thoughtful perspective is that while the house ranks lower locally for size and age, its city-wide land ranking is outstanding, suggesting its true value is as a land-holding property in a mature area, not just for its current floor plan.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in its neighbourhood (Eric Coy), 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 size and age are more typical for its immediate area.
2. Is the house in need of major updates?
Given its 1960 construction, buyers should anticipate elements typical of a home of this era. The condition of major systems (roof, wiring, plumbing) and the style/age of the finished basement should be verified through a professional inspection.
3. How can such a large lot be utilized?
Beyond a spacious yard, the lot could potentially allow for additions like a large workshop, extensive landscaping, or even future subdivision, subject to all City of Winnipeg zoning and bylaws. Its size is its most flexible feature.
4. Why is the assessed value a key data point here?
The assessment of $418,000 provides a municipal benchmark for value, which can be useful for understanding property taxes and comparing against the asking price. It sits in a moderate range for the city, suggesting the value is balanced between the land asset and the older home.
5. What are the considerations with a detached garage?
A detached garage offers flexibility and can be ideal for a workshop or storage separate from the house. However, it means going outside to access your vehicle, which is a factor to weigh during Winnipeg winters.