Property Overview
This well-established two-storey home in Eric Coy offers a practical and spacious family living environment. Built in 1978, it sits on a large 6,139 sqft lot and features 1,812 sqft of living space, including a finished basement. The home includes an attached garage and has no pool. Recent market activity shows stable value, with a sale in January 2024 at $530,000, closely aligned with its current assessed value of $529,000.
Key Characteristics & Appeal
The primary appeal of this property lies in its generous interior and exterior space, offering more room than the majority of homes in Winnipeg. Its finished basement and large lot provide immediate utility and potential for family living or entertaining. The home suits buyers looking for a move-in ready, spacious property in a mature neighbourhood without the premium price tag of newer builds. It’s particularly well-suited for a growing family needing room to spread out, or for someone who values a sizable yard.
A less obvious perspective is its competitive positioning within its immediate Eric Coy community. While it ranks highly for size and value locally, its age means it ranks in the middle of the pack for newer homes on its own street. This suggests a street with a mix of older and potentially renovated or newer homes, offering a stable, varied streetscape. The consistent value growth between its 2020 and 2024 sales indicates a resilient investment in this specific area.
Frequently Asked Questions
1. How does the home’s age affect its condition and potential costs?
Built in 1978, the home is nearly 50 years old. While it offers established charm and a mature lot, buyers should budget for potential updates to major aging components like the roof, windows, or HVAC system, which may be nearing the end of their service life.
2. What does the "finished basement" include?
The listing confirms a finished basement but does not specify the details. A viewing is essential to determine the quality of the finish, ceiling height, legal egress, and whether it includes a bathroom or separate entrance, as these factors greatly impact its utility and value.
3. The home ranks very high for size in Winnipeg but lower for newness on its street. What does this mean?
This indicates the home is larger than most in the city, offering great space for the price. The lower "newness" rank on its street suggests some neighbouring properties may be newer or more recently renovated, which could be a positive for overall street appeal but means this specific home might be one of the older ones on the block.
4. Has the property value increased?
Yes. It sold for $480,000 in July 2020 and $530,000 in January 2024. This represents a steady appreciation over a 3.5-year period, consistent with broader market trends during that time.
5. Who is the ideal buyer for this property?
The ideal buyer is likely a practical, space-seeking individual or family. They value more square footage and a larger yard over a brand-new home and are prepared for the maintenance that comes with a mature property. It's a strong fit for those prioritizing interior and outdoor space within a established community.