Property Summary: 782 Coventry Road, Winnipeg
Key Characteristics & Appeal
This is a classic, well-maintained one-storey home built in 1950, situated on an exceptionally large, private lot of nearly 20,000 square feet—a rarity within the city. Its appeal lies in this generous outdoor space, offering immense potential for gardening, recreation, or future expansion. The home itself features a practical layout with 1,286 sqft of living space and a finished basement, providing comfortable living areas. The rankings highlight a compelling contrast: while the house is older and modest in size compared to many, the property value is fundamentally anchored by its land. It ranks in the top 1% of Winnipeg for lot size, yet its assessed value remains accessible, suggesting an opportunity for buyers who prioritize land over a modern or large house. This property would perfectly suit a buyer looking for a quiet retreat with room to breathe, a hobbyist or gardener craving space, or a long-term investor who understands the intrinsic and enduring value of a large parcel of land in a developed city.
Frequently Asked Questions
1. What does the ranking data actually tell me?
The rankings compare this property to others in its immediate area and across Winnipeg. The key takeaway is the land's outstanding size (top 1% in the city) versus the home's more modest age and footprint. This indicates you are primarily investing in the land, with a solid, livable house included.
2. Is the older build year (1950) a concern?
While the home ranks as older than most in its direct neighborhood, it has been maintained and features a finished basement. A thorough inspection is always recommended to understand the condition of major systems, roof, and foundation, which is typical for any home of this vintage.
3. Who would this property not be suitable for?
It may not suit buyers seeking a modern, turn-key home with contemporary layouts and finishes, or those who prefer a low-maintenance yard. The appeal here is space and potential, which often comes with a higher degree of upkeep and personalization.
4. What are the implications of such a large lot?
Beyond privacy and space, a lot of this size can offer flexibility. It could accommodate additions like a large workshop, garage, or garden suite (subject to zoning and permits). It also likely means higher property taxes relative to the house size alone, as taxes are based on the land and improvement value together.
5. How should I interpret the assessed value in relation to the listing price?
The municipal assessment ($390,000) is for tax purposes and reflects a mass appraisal from a prior date. It’s a useful benchmark but not a market price. The listing price will be set based on current market conditions, the unique lot size, and the home's specific features. The assessment confirms the significant value attributed to the land itself.