Property Overview: 794 Buckingham Road
Key Characteristics & Appeal
This is a classic, well-maintained one-storey home on an exceptionally large, mature lot in the Eric Coy neighborhood. Built in 1969, the 1,396 sqft bungalow features a finished basement and an attached garage. Its standout characteristic is the nearly half-acre (19,099 sqft) property, which places it in the top 2% of all Winnipeg homes for lot size. This offers rare potential for privacy, gardening, expansion, or simply enjoying expansive green space within the city.
The appeal lies in a combination of established community, solid fundamentals, and significant land value. While the home itself offers comfortable living space, the true value proposition is the land itself—a substantial and increasingly scarce asset in Winnipeg. It ranks highly for lot size and assessed value within its area, indicating a strong foundational investment.
This property would best suit buyers who prioritize land over lavish finishes. It’s ideal for someone seeking a long-term family home with room to grow, a hobbyist or gardener dreaming of a large yard, or a value-oriented investor who recognizes the inherent worth and future potential of a large urban lot. It’s a home for those who see the opportunity in the space around the house, not just the walls within it.
Frequently Asked Questions
1. What does the ranking data actually mean?
The rankings compare this property against others on its street, in Eric Coy, and across all of Winnipeg. For example, being in the "top 2%" for lot size in Winnipeg means only 2% of homes have a larger lot. This data helps gauge how specific features stack up in the broader market.
2. Is the house dated, given its age?
Built in 1969, the home is from an era of solid construction. While some updates may be desired, it offers a functional layout and a finished basement. The value here is balanced more toward the land, with the house representing a liveable canvas for personalization over time.
3. What can I do with such a large lot?
Beyond a spacious yard, the lot size opens possibilities not found with standard parcels. Think substantial gardens, adding a large workshop or shed, creating distinct outdoor living areas, or even future expansion (subject to zoning and permits). It provides a rare sense of openness and flexibility.
4. How does the assessed value relate to the asking price?
The municipal assessment of $492,000 is a tax valuation snapshot from a prior date and serves as one market indicator. It shows the property is valued well above the Winnipeg median. The final sale price will be determined by current market conditions, demand for large lots, and the home's specific condition.
5. What are the less obvious considerations?
A lot of this size requires more maintenance (lawn care, landscaping) which can be a cost or a joy, depending on your perspective. It also likely means longer driveways and more exterior upkeep. However, it also offers a unique legacy asset—a sizable piece of land in the city that can be enjoyed for generations.