Property Overview: 767 Buckingham Road, Winnipeg
This well-situated one-storey home in the Eric Coy neighbourhood presents a compelling opportunity defined by its generous lot and established community. Built in 1964, the 1,177 sqft bungalow features a finished basement and a detached garage. Its standout characteristic is the expansive 19,033 sqft property, which offers exceptional outdoor space and privacy for the area. While the home itself is modest in size relative to its land, its appeal lies in the balance of a manageable, single-level living space with the rare potential for expansion, gardening, or simply enjoying a large, private yard. The property’s assessed value positions it as a practical entry into a mature neighbourhood.
This home would suit a buyer looking for a solid foundation in a quiet area, prioritizing land size over a large interior footprint. It’s ideal for first-time homeowners comfortable with a property of its era, downsizers seeking single-level living with ample outdoor space, or long-term investors who recognize the inherent value and future potential of such a sizable lot in the city.
Key Questions for Consideration
1. What is the true value of such a large lot?
Beyond privacy and space, a lot of this size (nearly half an acre) is uncommon in the city. It offers long-term potential not reflected in the current home's footprint, whether for future additions, landscaping projects, or simply as a valuable asset in a land-scarce market.
2. How should I interpret the provided rankings?
The rankings compare this property to others on its street, in Eric Coy, and across all of Winnipeg. Notably, while the home's size and assessed value are middle-of-the-road locally, its land size ranks in the top 2% city-wide. This highlights where the property's unique strength lies.
3. What are the considerations for a home built in 1964?
Prospective buyers should budget for a thorough inspection. While the home has been maintained, a structure of this age may require updates to major systems like plumbing, electrical, or the roof, which should be factored into planning.
4. Is the finished basement a legal suite?
The listing states the basement is finished but does not specify it as a legal secondary suite. This is a crucial distinction for those considering rental income, and verification with the city would be an essential step.
5. Who might this property not suit?
Buyers seeking a modern, move-in-ready home with a large interior or an attached garage may find the layout and era of the home limiting. The value here is primarily in the land and location, with the house representing a functional starting point.