Property Overview: 676 Coventry Road, Winnipeg
Key Characteristics & Buyer Appeal
This is a well-established, single-storey home in the Eric Coy neighbourhood, built in 1975. Its primary appeal lies in its exceptionally large, private lot of over 15,000 sqft—a rare find that places it in the top 2% of all Winnipeg properties for land size. The home itself is a manageable 1,302 sqft with a finished basement and an attached garage, offering comfortable living space. Recent city assessments value the property at $488,000, ranking it in the top 20% city-wide for assessed value, which suggests solid underlying value for the area.
Beyond the obvious space, the property’s appeal is multifaceted. It suits buyers seeking a long-term family home with immense outdoor potential—think gardens, play areas, or future additions—without the premium of a newer suburb. It also represents a compelling opportunity for value-conscious buyers who prioritize land over a large or modern house, as the generous lot provides a unique asset that is increasingly scarce. The data indicates the home itself is older and average in size for its community, meaning the true draw is the land and location. This property would best suit practical buyers, growing families wanting room to spread out, or those with a vision to gradually update a home while enjoying one of the city’s more substantial private lots from day one.
Frequently Asked Questions
1. What does the ranking data (e.g., "top 2% for land") actually mean?
The rankings compare this property directly to others on its street, in Eric Coy, and across all of Winnipeg. For example, being in the "top 2% for land" means its lot size is larger than 98% of all residential properties in the city, highlighting its standout feature.
2. The house was built in 1975. What should I consider?
While the home has been maintained, buyers should budget for updates consistent with its age, such as windows, roof, or mechanical systems. A thorough inspection is essential. The upside is that the home’s classic layout and finished basement provide immediate, functional living space on a lot where building new would be significantly more expensive.
3. Who is the ideal buyer for this property?
This home is ideal for buyers who value outdoor space and privacy above a brand-new house. It’s perfect for families, hobbyists, or anyone who sees the long-term value in a large lot. It may also appeal to investors or buyers looking for a property with future redevelopment potential due to the lot size.
4. The assessment is $488,000. How does that relate to the listing price?
The assessed value is the city’s estimate for tax purposes, not a market price. However, ranking in the top 20% city-wide for assessment indicates the property is considered materially valuable by municipal standards. The final sale price will be determined by current market conditions, demand for large lots, and the home’s condition.
5. What are the pros and cons of such a large lot?
The pros are significant: unparalleled privacy, space for recreation, gardening, or expansion, and a unique, enduring asset. The cons include higher maintenance (lawn care, snow clearing) and potentially higher property taxes relative to homes on standard lots, as taxes are partly based on land value.