Property Summary: 526 Coventry Road, Winnipeg

Key Characteristics & Appeal

This is a classic 1955-built, single-story home situated on a remarkably large, nearly half-acre lot (19,793 sqft) in the Eric Coy neighbourhood. With 1,686 sqft of living space, it offers more room than the majority of homes in Winnipeg. Its primary appeal lies in the exceptional land size, which is a rare find within the city and ranks in the top 1% for total property area. The home itself presents a solid, spacious foundation.

The property suits two distinct types of buyers. First, it’s ideal for those seeking long-term potential and space over immediate modern finishes. The vast yard is perfect for gardening, recreation, or future expansion. Second, it appeals to value-driven buyers looking to enter a stable neighbourhood, willing to invest in updates over time to tailor the 71-year-old home to their tastes. It’s less suited for those seeking a turn-key, modern property or who prioritize a high-assessment value, as the current assessed value is on the lower end for the area.

Frequently Asked Questions

1. What does the ranking data actually tell me?
The rankings show the home’s position relative to others. For example, its lot size is in the 99th percentile city-wide (exceptional), but its assessed value is in the 37th percentile (modest). This suggests the value is primarily in the land, not the current structure.

2. Is the large lot a benefit or a burden?
It’s a significant benefit for privacy, outdoor space, and future potential. However, buyers should consider the associated maintenance (lawn care, snow clearing) and potentially higher property taxes based on land value.

3. Given its age, what should I budget for immediately?
While specifics require an inspection, a home from 1955 will likely need careful evaluation of its major systems (roof, plumbing, electrical, foundation) and insulation. Budgeting for essential updates rather than just cosmetic fixes is prudent.

4. Why is the assessed value relatively low compared to the lot size?
The assessment reflects the property’s current state as an older home. The significant disparity between the land value and the total assessment indicates the house itself contributes less to the valuation, which can present an opportunity for added value through renovation.

5. What is the neighbourhood like, and what are the zoning possibilities?
Eric Coy is a mature, established community. The R1 zoning typical for such a lot is primarily for single-family residential use. For any potential redevelopment or significant additions (like a secondary suite), you must verify specific zoning bylaws and regulations with the City of Winnipeg.