Property Overview
This 1959-built bungalow at 729 Coventry Road presents a unique opportunity defined by its exceptional lot size and solid foundational value. Its primary appeal lies in the nearly 20,000 sqft property—a rare urban parcel that ranks in the top 1% for size across Winnipeg. The home itself is a modest 1,046 sqft one-storey with a finished basement and an attached garage, offering functional living space. Its strongest suit is for a specific buyer: someone who sees beyond the current house and values long-term potential. This would perfectly suit a homeowner-planner, perhaps a young family looking to eventually build their dream home, or an investor who recognizes the irreplaceable value of land. The appeal is less about immediate luxury and more about strategic ownership, offering a canvas for future expansion, gardens, or outdoor living that is increasingly hard to find within the city.
Key Details & Questions
Key Characteristics & Ideal Buyer
- Land as the Asset: The dominant feature is the 19,803 sqft lot, placing it in the 99th percentile for size in Winnipeg. This is the property's core value proposition.
- Modest Home, Solid Base: The 1,046 sqft bungalow is functional and updated with a finished basement. It ranks average to below-average in size among peers, indicating the opportunity lies in the land, not the current structure's footprint.
- Established Location: Situated in Eric Coy, the property benefits from mature neighbourhood character. Its rankings show it outperforms 74% of area homes for lot size but is an older, smaller home within the community context.
- Ideal For: The pragmatic buyer or long-term planner. This suits those willing to live in a comfortable, older home while holding a massive lot, or an investor banking on land appreciation and redevelopment potential. It's less ideal for seekers of a large, modern living space ready today.
Frequently Asked Questions
1. What does the ranking data actually tell me?
The rankings compare this property to others on its street, in Eric Coy, and across all Winnipeg. They confirm the lot size is exceptionally rare city-wide, while the house itself is older and smaller than most in the immediate area, clarifying where the value is concentrated.
2. Is the house in good condition for its age?
The listing notes a finished basement, suggesting some updates. However, as a 67-year-old home, a thorough inspection is essential to understand the condition of major systems like roof, plumbing, and foundation, which is typical for a property of this vintage.
3. What can I do with such a large lot?
The possibilities are a major draw. Beyond extensive gardening and private outdoor space, the lot size could potentially accommodate future additions, a garage/workshop, or even subdivision, subject to all city zoning and bylaw approvals.
4. How does the assessment value relate to the asking price?
The municipal assessment is $411,000 for tax purposes, a helpful benchmark. Market price is determined by current demand, the unique lot value, and comparable sales, which often differ from the assessed value.
5. Why is the lot size so significant for future value?
In an established city, large, vacant-ready lots are scarce. This property offers "option value"—the ability to enjoy it now while retaining a future opportunity to significantly enhance or redevelop the property, which is a durable form of equity.