This is a classic 1961-built bungalow situated on a remarkably large, nearly half-acre lot in the Eric Coy neighbourhood. The home itself offers 999 sqft of living space with an unfinished basement and a detached garage. Its standout feature is the land: at 19,807 sqft, the property size ranks in the top 1% of all homes in Winnipeg, offering exceptional outdoor potential. While the house ranks lower in relative size and modernity within its immediate area, the sheer scale of the parcel presents a unique value proposition. The appeal lies in the rare opportunity to own a substantial piece of land within the city, suited for a buyer with vision—whether that's for extensive gardening, future expansion, or simply enjoying expansive private outdoor space. It would particularly suit a hands-on buyer or developer looking for a property where the land is the primary asset, who is comfortable with a home that may require updates, and who values long-term potential over immediate move-in perfection.
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What is the true value proposition here? The data suggests the value is heavily weighted toward the land. Buyers should assess whether the price reflects the cost of a similar-sized lot plus the existing home, or if it offers a discount for the renovation opportunity.
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Given the lot size, what are the possibilities for expansion or addition? A key question would be zoning regulations and the feasibility of adding to the existing bungalow or even building a new primary residence while potentially retaining the original structure.
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How does the unfinished basement factor into future plans? While it requires investment to finish, it represents significant potential for adding affordable living space, a workshop, or storage, which is a valuable asset on a property of this scale.
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What are the annual costs associated with a lot this size? Property taxes and maintenance (like lawn care or snow clearing) for a 19,807 sqft lot will be considerably higher than for a standard city plot, which should be factored into long-term budgeting.
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Why is the home's assessed value ranking lower than its land size ranking? This discrepancy typically confirms that the current assessment reflects the older, modest-sized home more than the premium land value, which could be a point of discussion regarding municipal valuation and future tax implications.