Property Overview & Key Characteristics
This is a well-established, single-storey home on an exceptionally large, mature lot in the Eric Coy neighbourhood. Its primary appeal lies in the rare combination of a generous 10,721 sqft property with a fully finished basement, offering significant space and potential. The home itself, built in 1947 with 910 sqft of living space, presents a classic footprint that may appeal to those looking for a project or a manageable layout.
The standout feature is the land itself—a lot size that ranks in the top 5% of all Winnipeg properties. This provides immense privacy, room for gardening, expansion, or outdoor living, a rarity within the city. The fully finished basement adds valuable functional space. Its strong ranking for lot size against city-wide comparables suggests a unique value proposition that is land-centric.
This property would best suit a buyer who values outdoor space and long-term potential over turn-key modern finishes. It's a match for a handy homeowner comfortable with gradual updates, a family seeking a large, secure yard, or an investor recognizing the inherent value in the land. The very competitive lot size, contrasted with the home's age and modest assessment value, indicates an opportunity where the greatest asset is the ground it sits on.
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, being in the top 5% for lot size in Winnipeg confirms the lot is a major asset, while the lower rankings for building age and size are typical for the neighbourhood's vintage.
2. Is the house in need of major updates?
Given its 1947 construction, buyers should budget for updates to major systems like plumbing, electrical, or the roof. The value here is positioned more in the land and location than in new construction or high-end finishes.
3. How does the finished basement add value?
It immediately provides extra living, recreational, or utility space without the need for a costly renovation, making the home feel larger than its main-floor square footage suggests.
4. What are the implications of such a large lot?
Beyond privacy and space, it means higher property taxes relative to smaller lots, potential for subdivision (subject to city bylaws), and more maintenance. It's a feature that offers both benefits and responsibilities.
5. Why is the assessed value relatively low compared to the lot's ranking?
Municipal assessments often reflect the current state and size of the home itself. The significant disparity here suggests the market value may be strongly influenced by the land's redevelopment or enjoyment potential, which isn't fully captured in the assessment figure.