Property Summary: 650 Buckingham Road, Winnipeg
Key Characteristics & Appeal
This is a well-established, single-storey home on an exceptionally large lot in the Eric Coy neighborhood. Its primary appeal lies in its generous 11,223 sqft property—a rare find that ranks in the top 4% of all residential lots in Winnipeg for size. The home itself, built in 1950, offers 1,204 sqft of living space with a finished basement and a detached garage. While the house is older and its interior space is modest relative to the lot, its assessed value is solid, outperforming 68% of Winnipeg properties.
This property would best suit a specific type of buyer: someone who values expansive outdoor space for gardening, recreation, or future expansion over a large or modern interior. It’s a compelling opportunity for a long-term holder who can appreciate the inherent value of the land and is comfortable with a home that may require updates over time. The large lot also presents a less obvious appeal for multi-generational living, with potential for additions or secondary suites (subject to approvals).
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. For example, its lot size is larger than 96% of Winnipeg homes, making it a standout feature. Conversely, the building age is older than 75% of city homes, indicating a classic property that may need more maintenance.
2. Is the house in need of major renovation?
Built in 1950, the home is certainly not new. While it has a finished basement, the age suggests that core systems (like plumbing, electrical, or the roof) should be carefully inspected, as updates may be needed or could be part of a buyer's long-term plan.
3. What are the possibilities with such a large lot?
Beyond a spacious yard, the lot size offers potential for significant landscaping, adding a workshop or shed, creating expansive gardens, or even future expansion of the home itself. It’s important to verify zoning bylaws for any specific plans.
4. How does the assessment value relate to the asking price?
The city’s assessment for tax purposes is $415,000. A buyer should use this as one data point, but the final sale price will be determined by the market, considering factors like the unique lot size, the home's condition, and current buyer demand.
5. Who is the ideal buyer for this specific property?
The ideal buyer values land size above all else. This could be a family wanting a huge private play area, a hobbyist gardener, or a strategic buyer who sees the long-term value in a large urban lot. It may not suit someone seeking a modern, low-maintenance, or maximized interior square footage.