Property Overview: 742 Coventry Road, Winnipeg
Key Characteristics & Appeal
This is a well-established, single-storey home in the Eric Coy neighbourhood, built in 1963. Its most defining feature is the exceptionally large, nearly 20,000 sqft lot, which places it in the top 1% of all properties in Winnipeg for land size. The home itself is 1,076 sqft with a finished basement and an attached garage. Recent market activity shows it was purchased in August 2023 for $390,000, which aligns with its current assessed value.
The primary appeal lies in its rare combination of a modest-sized home on a vast, private parcel of land within the city. It offers tremendous potential for expansion, gardening, outdoor recreation, or simply enjoying generous space and privacy—a rarity that’s increasingly hard to find. While the house ranks in the middle to lower range for size and newer features within its immediate area, the land itself is a standout asset. This property would perfectly suit buyers who value space over square footage, such as downsizers seeking a manageable home with room for hobbies, families looking for a safe, expansive yard, or long-term investors who recognize the intrinsic value and future potential of such a large lot in a mature community.
Frequently Asked Questions
1. Is the large lot a benefit or a burden?
It’s a significant benefit for privacy, potential uses, and future value, but buyers should consider the associated maintenance (like lawn care or snow clearing) and whether the property taxes reflect the premium land size.
2. How does the 2023 purchase price affect current value?
A very recent sale at the assessed value provides excellent clarity on the home’s current market worth, reducing speculation. It suggests the property is priced steadily, though it also means less potential for immediate equity gain from a quick resale.
3. What does the "finished basement" include?
The listing notes a finished basement but does not specify the extent (e.g., legal suite, number of rooms, ceiling height). This would be a key point for verification during a viewing to understand the true liveable space.
4. The home ranks lower for size locally. Is it too small?
This depends on your needs. The layout and functionality of the 1,076 sqft main floor and finished basement are more important than the ranking. For many, the trade-off of a smaller home for a much larger yard is a desirable one.
5. What’s the neighbourhood like?
Being in the established Eric Coy area, you can expect mature trees, settled communities, and typical amenities for a Winnipeg suburb. The high land ranking within the neighbourhood itself (top 28%) indicates this is a particularly spacious parcel even compared to nearby properties.