Property Overview: 701 Harstone Road
This single-storey home in Winnipeg's Eric Coy neighbourhood presents a unique proposition centered on its expansive, nearly half-acre lot. Built in 1968, the 965 sqft house itself is modest in size, but its primary appeal lies in the exceptional scale of the land (17,989 sqft), which ranks in the top 2% of all properties in Winnipeg. The home features a finished basement and sits on a quiet street, offering a rare blend of urban convenience and substantial outdoor space. Its 2019 sale price was $300,000, with a current assessed value of $367,000.
Key Characteristics & Appeal
The defining characteristic of this property is its vast, flat lot. This isn't just a backyard; it's a blank canvas offering privacy and potential that is increasingly hard to find within the city. The home itself is a practical, no-frills bungalow, well-suited for those who prioritize land over lavish interior square footage. Its finished basement adds valuable functional living space.
This property would perfectly suit a specific type of buyer: the visionary, the hobbyist, or the growing family seeking room to breathe. It's ideal for someone with plans for extensive gardening, outdoor recreation, or future expansion (subject to approvals). It also appeals to the value-driven buyer who understands that land is a permanent asset, while a house can be renovated or expanded over time. The strong city-wide ranking for lot size indicates this is a standout feature that will always underpin the property's value.
Frequently Asked Questions
1. Is the house too small for the lot?
While the living area is below average for the area, the property is best viewed as a "land play" with a liveable house. The value and appeal are disproportionately tied to the lot, making it perfect for those whose lifestyle or long-term plans extend outdoors.
2. How does the 2019 sale price relate to the current assessment?
The assessed value of $367,000 is a municipal valuation for tax purposes and is not a market price. The 22% increase since the 2019 sale ($300,000) reflects broader market trends and the enduring premium for large lots.
3. What does the "ranking" data mean?
The rankings compare this property against others on its street, in Eric Coy, and across all of Winnipeg. Key takeaways: its lot size is exceptional (top 2% in Winnipeg), while the house is older and smaller than many comparables. This highlights the trade-off at the heart of this listing.
4. Is the lack of a garage a significant drawback?
For some buyers, yes. However, the enormous lot provides ample space to add a garage, workshop, or shed, which is a compelling advantage over properties with smaller, already-developed yards where adding structures is impossible.
5. Who is this property not for?
It's likely not a match for buyers seeking a turn-key, modern home with low maintenance. This property appeals to those willing to invest sweat equity, embrace outdoor living, or view the existing house as a starting point with the land as the long-term asset.