533 Buckingham Road

Property Overview & Key Characteristics

533 Buckingham Road is a well-established, one-storey home in Winnipeg's Eric Coy neighbourhood, built in 1958. Its primary appeal lies in its exceptionally large, private lot of over 19,000 square feet—a rare find that places it in the top 2% of all properties in Winnipeg for land size. The home itself offers 1,363 sqft of living space with a finished basement and a detached garage. While the house is of average size for the area and its age places it among the older homes in the community, the extraordinary lot is the defining feature. The property’s overall assessed value is competitive, ranking higher than most of the city.

This home would perfectly suit a buyer prioritizing outdoor space and privacy over a modern, turn-key house. It’s ideal for someone with a vision for gardening, landscaping, or future expansion, who appreciates the character of a mature neighbourhood. It could also appeal to a family seeking ample room for children and pets to play, or an investor who recognizes the long-term value of such a sizable parcel of land in the city.

Frequently Asked Questions

1. What does the ranking data actually mean?
The rankings compare this property to others on its street, in Eric Coy, and across all of Winnipeg. For example, being in the "top 2%" for land size means only 2% of Winnipeg properties have a larger lot. Conversely, rankings for age show it is older than most homes in its immediate area.

2. Is the large lot a benefit or a burden?
It's a significant benefit for privacy, space, and potential, but it also means greater responsibility for maintenance (lawn care, snow clearing) and potentially higher property taxes tied to land value. It's a premium feature that requires a commitment to upkeep.

3. Who might this property not suit?
Buyers seeking a modern, low-maintenance property or those unwilling to take on potential updates common to a home of this age (68 years) may find it less appealing. The value here is in the land and potential, not in a recently renovated interior.

4. What is the significance of a "finished basement" in a 1958 home?
While it adds liveable space, the finish and condition may reflect older styles and standards. It's important to clarify the quality of the finish, ceiling height, and ensure it meets current moisture and safety standards.

5. How should I interpret the assessment value?
The municipal assessment of $416,000 is for tax purposes and is a historical snapshot. It can be a general indicator, but the market value is determined by current buyer demand, condition, and recent sales of comparable properties, especially those with similarly large lots.